Imagine you are a banker. Mr. and Mrs. America owe you a large sum of money. Mr. America comes to your office to inform you that they don't presently have the money to pay what they owe. You ask where Mrs. America is and soon find out that she has moved back to her mother's house. Things aren't going so well in the America house. They don't have enough money, and they don't have the ability to dwell peacefully in the same household with one another.
But they have a plan to pay you. Mr. America informs you that there is another bank that he has talked to that is willing to loan them the money to pay you. All he has to do is get Mrs. America to agree to sign the paperwork. Hmmm. Red flags go up in your head (as they should!)
You begin to think. "So they are borrowing money to pay me. That's not good." And, "They don't even like each other right now. How is he going to get her to agree to that? That ain't good either." Whether you like it or not, Mr. and Mrs. America were just downgraded in your book. You are more worried about their ability to pay you than you were before.
I understand that analogies fall short at some point. This one may very well fall short completely. But it makes sense. Reflecting on our nation's recent credit downgrade and our government's response to it, I'd like to mention four brief thoughts.
Reality. If any individual were to conduct their finances in this manner, they would receive a downgrade on their credit report. Raising a "debt ceiling" will cause anyone's score to go down. Credibility is not merely about if we have paid our debts. Other factors, like ratios, inquiries and so on, inform lenders of the borrower's ability to pay in the future. The reality of the situation is that we deserve a downgrade.
Repercussions. If a child doesn't study for a test and performs poorly, he deserves a bad grade. A responsible parent will use this repercussion as an opportunity for repentance and reform. Repercussions are opportunities. An irresponsible parent, however, will blame the teacher for giving a overly difficult test or will blame the child's inability to concentrate. These excuses simply invalidate the repercussions. And repercussions that are merely pushed into the future only grow in size.
Responsibility. People who take no responsibility for their actions hardly gain the trust of those around them. Mr. Obama as well as other government officials may not be personally guilty for the downgrade. But the President as well as the officials (and the people!) are responsible. Blame-shifting has to stop. The reality of the situation, as well as the repercussions that have followed, are our responsibility.
Repentance. Therefore, we must repent. Using debt to pay obligations is not a responsible or repentant way for a household to operate. When we do not repent of our sinful behavior, we communicate that it is a right way to do things. We teach others that when we sin we should deny the reality of the situation and take no responsibility for our actions. Others should repent, and until that happens, we will just borrow money to delay the repercussions.
This reality does not all begin from the top and work its way down. It begins with the family unit and rises to the top. As families in America our tendency, when we selfishly overspend, is to deny the reality of the situation - that our selfishness has resulted in our inability to provide groceries. We don't want to accept responsibility for the repercussion, so we blame others saying, "Its not our fault our pantry is empty. Our jobs aren't paying enough and taxes are too high!"
Because it is someone else's fault, we don't feel the need to repent of our sinful behavior. We are innocent victims of a debt crisis in our country. And so the cycle goes...until we hit bottom. Bankruptcy.
Instead of entering this vicious cycle, we should accept the reality that we are in trouble. Our selfish lifestyles have brought repercussions to our front door. We should accept responsibility for these things and repent. When our pantries are empty, we must go to the Lord in prayer and repentance. Then we must resist the temptation to swipe the credit card, and go to our brother or sister in Christ and as ask for food.
I have said it before and I will say it again. We cannot borrow enough money to purchase our redemption. Repercussions are painful and are designed to bring us to our knees in prayer. Repentance and faith alone will do. For in these humble actions, Someone Else suffers the penalty we are due. And that same Someone Else purchases our freedom to live fulfilled lives. His Name is Jesus Christ, not China.
Well said, and good analogy. Now, budgeting & responsible spending don't apply to your book budget do they? ;-)
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