The Real Cause of the Debt Crisis

Why are so many countries and families on the edge of financial disaster? Is it poor financial planning? A tax code that is too liberal or conservative? Absolutely not! The real cause of our financial problems is not the budget deficit, but a deficit of true knowledge. It’s because neither politicians nor people know or follow the Bible.

What does the Bible say about personal and public finance? A lot more than you might imagine!

The Bible tells us a lot about work. It tells us…

  • to work (1Thessalonians 4:11)
  • why to work (1Thessalonians 4:12; Ephesians 4:28)
  • how to work (Colossians 3:23-24; 1 Peter 2:18-20) 
  • when to work (Exodus 20:9)
  • when not to work (Exodus 20:10).

The Bible contains work regulations regarding…

  • how employers must treat employees (Deuteronomy 24:14; Colossians 4:1)
  • how employees must treat employers (Ephesians 6:5-8; Titus 2:9-10)
  • what will happen if either violates these regulations (Malachi 3:5; Luke 16:11-13).

The Bible includes a system to care for the poor (and even aliens) through…

  • paying at certain times a specified portion of our income (Deuteronomy 14:27-29; 26:11-15)
  • giving privately to those in need (Deuteronomy 15:7-10)
  • providing for our own families (1 Timothy 5:3-8).

It even provides examples of how to fund worthy public works (2 Chronicles 24).

Regarding debt, the Bible advises us to…

  • stay out of debt if we can (Proverbs 22:7)
  • pay back our debts if we have them (Psalm 37:21)
  • eventually relieve those who are unable to repay their debts (Deuteronomy 15:1-2; 31:10-11).

Unlike laws invented by partisan politicians, the Bible provides a perfect balance between discipline (2 Thessalonians 3:10-14) and mercy (2 Thessalonians 3:15; Leviticus 19:10).  It encourages generosity (Proverbs 19:17) and diligence (Proverbs 21:5; 27:23), while warning against stinginess (Proverbs 11:24), laziness (Proverbs 6:6-11; 10:4) and greed (Proverbs 28:8).

Believe it or not, the Bible even commands us to pay a specified portion of our income to God (Malachi 3:8-10; Proverbs 3:9-10; Luke 11:42) and to save money every year to spend on good food and good times with friends and family, while attending God’s annual worship services (Deuteronomy 14:22-26. See also our free booklet “The Meaning of God’s Fall Holy Days”).

There are well over 3 million words in the U.S. tax code. Yet, as events of the past weeks have proven, it has not produced sustainable personal and national prosperity. In less than 800,000 words, however, the Bible provides comprehensive, compassionate, proven instructions on every aspect of private and public life.  Those who know, understand and practice them have a wonderfully peaceful, happy, prosperous and eternal future ahead of them (Revelation 22:12, 14).

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