It has been said, that the reason many American families don't have an elephant is that they have not been offered one for a $l down and easy weekly payments.
Last week in our Sunday school class, we tried to uncover how our federal government got us into the massive debt we are in. Simply stated it is the same way the individual American or the American family has gotten into the massive debt we are in. Each year that you spend more money than you bring in will lead you deeper into debt.
In the 1980's our government was the worlds number one lender. Today we are the worlds number one borrower. In the 1970's and 80's the individual American bought savings bonds, and treasury notes, and most had a savings account with a local bank. But today we save less than 1% of our income, and the average savings per year is $397, with a balance of around $1,000 per family.
It seems that the individual American has followed the same pattern that the federal government has followed or vice versa. The "national federal debt" is over $14 trillion, while the "nations total household debt" rose from $7.8 trillion in 2002 to nearly $14 trillion in 2008. The household income did not increase by 80% during those 6 years, but our average household debt did. Are we the richest people on earth or are we just living like it on borrowed money? In 1952 the average debt to income ratio was 40%, but by 2006 that had increase to 126%.
How can the individual blame Wall Street or the federal government for his personal debt? Is debt not typically a free choice? If it is, then the Christian must ask himself: "Does the Lord have anything to say in this matter of my finances?"
“…..for in the land the Lord your God is giving you to possess as your inheritance, He will richly bless you. If only you fully obey the Lord your God and are careful to follow all these commands I am giving you today. For the Lord your God will bless you as he has promised, and you will lend to many nations but will borrow from none. You will rule over many nations but none will rule over you.”
Romans 13:8 "Owe no man anything, but to love one another: for he that loveth another hath fulfilled the law."
So He does have a word to the nation, and a word to the individual. Let's decide right now, we are not going to let someone sell us an elephant for $1 down and easy weekly payments.
Those that were in Sunday school last week, be sure to fill out your discussion questions. Now those that did not come last week, please plan to be there at 9:30 this Sunday and enjoy these lessons by Dr. David Jeremiah. God bless you and yours and never forget that you are loved!!!
Henry D. is from Southern Indiana and writes these wonderful daily devotionals to encourage those at the Dogwood Community Church located in Paoli, Indiana. Henry has graciously agreed to share these wonderful devotionals here at Without Excuse Ministries to encourage you our valued guest!