When Big things wobble

On Friday August 5^th, Standard and Poor’s announced the downgrade of the U.S. Credit Rating for the first time ever from AAA to AA+. Although the AAA rating has withstood two World Wars, a Cold War, the Great Depression and 911, it could not withstand the recent irresponsible over-spending and over borrowing (14 trillion dollars) of the federal government. The Heritage Foundation projects that the federal government will spend over 1.5 trillion dollars more than they receive in 2011. This equates to about 3 ½ billion dollars each day or $1.60 for every $1.00 received. That is a LOT of money!! Is it any surprise why Standard and Poor’s lowered the rating?

I thought it was interesting, (although not surprising) that the political initial reaction was to blame everyone else for the downgrade. The Bible is clear in warning of the dangers of debt, and the path the US Government has embarked upon is simply unsustainable and irresponsible. It does not matter if it is an individual, business, church, ministry or “Most Powerful Economy in the World” God’s principles apply. It is a scary thing when the foundation of our economy and investments starts to wobble.

This may be a good time to review the principles laid out in the Word of God about money management, God’s Way.

Here are a few reminders from God’s Economy in the middle of the Economic Storm that the Credit Rating Downgrade has introduced.

1. God has told us that our trust must not be in anything other than Jesus Christ. 1 Timothy 6:17 says …”do not fix our hope on the uncertainty of riches, but only on God who richly provide with all things to enjoy”. If we are trusting in a social security check, disability check pension check or some other check and not the God that supplies those checks then our trust is misplaced. Use this opportunity to redirect our trust to where it belongs.
2. If we are in debt; get out as quickly as possible. About two years ago, we spent a bit of time in this blog discussing why God discourages debt. Here is a link to one of those postings if you need a quick refresher course. Although not forbidden in God’s word, debt certainly can be a tool that Satan will use to disrupt our fellowship with God. So if we are in debt, work to get out of it as quickly as possible.
3. Be content with a lifestyle you can afford. Philippians 4:11,12 and Hebrews 13:5 remind us to be content. Contentment is so contrary to the world’s economy that says live large and use your credit cards to get there.
4. Save for the future. Proverbs 21:20 and Proverbs 6:6-8 are two verses that encourage us to save. But also remember Ecclesiastes 5:13 which warns us that savings too much becomes hording. Many times God will bless us to meet someone else’s need or the need of a ministry.
5. Don’t forget to give. Give to others and give to the Lord’s work. Giving and specifically tithing is the starting point of living by God’s Economy. Luke 6:38 says give and it shall be given unto you.
6. Remember that God is faithful and He will take care of us. When the “world’s strongest economy” begins to wobble, it is reassuring to remember that our God (and not the government) is faithful and will provide for our needs (Philippians 4:19).

No matter what happens to the Credit Rating of the US Government, we as followers of Jesus Christ never have to concern ourselves with an eternal Credit Downgrade. Paul tells us in Romans 4: 20-25 that God will credit us righteousness (salvation) as a result of believing in Jesus Christ as Lord and Savior of our lives.

Isn’t it reassuring to know that while the credit worthiness of the “most powerful economy in the world” may wobble (and possibly even fail) the credit worthiness of the hope that our future and salvation in Jesus Christ is built upon cannot wobble or fail? Matthew 7:24-31