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Our Debt Crisis Introduction: on August 2, 2011 Congress finally passed a bill raising the National Debt by 2.5 trillion dollars. Currently it is or was at 14.3 trillion dollars and was raised to $16.7 trillion. This means as a nation we spend $4 billion a day more than we take in. Or 41% of what we are spending is borrowed. What does this mean? We owe over $130,000 per tax payer. I) Understanding Debt & Reaction To Debt A) Debt is what we owe. 1. Normally we realize that we have to eventually pay back what we borrow plus some interest. 2. Our national debt is truly a staggering amount of money. Beyond our comprehension. B) How congress or people tried to deal with debt. 1. Some denied a debt problem. Just print more money, raise more taxes. 2. Some tied to blame previous congresses for the problem. In other words, "Since we did not create the problem we should not have to deal with it." 3. Some tied to kick the can down the road. Therefore, let the next congress deal with the problem. Most of the cuts and sacrifices will not come until 8 to 10 years from now. 4. Some tried fancy accountings tricks such as increasing the amount being spent but count it as a cut because they cut the amount of increase. 5. Stop borrowing and start paying it off. 6. Let someone else pay for our debt. Raise taxes on someone else, i.e. the rich. C) Problem 1. Cannot pay off the national debt by only taxing a few people. Eventually everyone will have to pay the price. 2. Previous congresses have a responsibility to but the debt has dramatically increase with this congress. 1957 the national debt was $270 billion, now it is $14.3 trillion. 3. Eventually the debt will have to be paid. Either by this generation or the next generation of tax payers. II) Our Debt Problem A) Sin is debt we all owe, Romans 3.9-10, 23 1. Cannot redefine sin so as to make it obsolete or non-existent. 2. Sin is transgression of God's law, 1 John 3.4. Missing the mark, rebellion, ignorance, weakness, etc. 3. The link between sin and its cost is undeniable, Ezekiel 18.4. B) How some have tried to handle their debt problem 1. We cannot blame others and escape our responsibility a. Adam tried to blame Eve and God for eating the forbidden fruit. b. King Saul tried to blame the people for not sacrificing everything as commanded by God in 1 Samuel 15. i. Many will try to blame their unfaithfulness on: the brethren, their spouse, their children, their friends, society, etc. i. We as free moral agents are responsible for what we do. 3. Some want to deal with their soul and sin some later time. Acts 24.25 a. Today is the day of your salvation, 2 Corinthians 6.2. b. Tomorrow is a crutch people use to not obey today. 4. Some try to rely on false accounting. Imputed righteousness, in that they believe God imputes to them the good works of Jesus. The fact is God sees our works and our need of forgiveness, Romans 4.7-8. 5. Some will try to pay off their own debt by their own works, Romans 4.4, Ephesians 2,8-9 a. Being self righteous, Romans 10.1-3. b. All the good works one may do cannot pay off their debt problem. 6. Some will try to have others pay the price for their sin. a. One's parents, spouse, children, friends, etc. cannot pay for your sins. Because they have the same sin problem. To pay off a debt one must have the ability and will to do so. b. We cannot be redeemed with money, or gold, or silver, or some other currency. Takes something much more valuable, 1 Peter 1.18-19. c. Jesus is the only one who can pay the debt we owe. Eph. 1.7; Colossians 1.14. e. We must be willing to receive the payment. d. We must then stay out of debt, sin.
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