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The Nation's Pulse
The Bible vs. the Bailout
Some years ago, I was asked to speak to a Christian homeschooling conference -- my wife and I have homeschooled our six children -- and during the question-and-answer session after the speech, I faced a question for which I was unprepared.
"How has your Christian faith influenced your political beliefs?"
This stunned me into silence for a second. Then I answered: "Well, I guess it comes down to that part about 'Thou shalt not steal.'"
From there I proceeded to discuss the basic immorality of the welfare state, how it is wrong for government to take money that one man has worked for and give it to someone who hasn't earned it.
Whereas transactions in a market economy are voluntary and peaceful, the actions of government are essentially coercive, backed with the threat of violence to those who disobey. What government does, it does "at the point of the bayonet," so to speak. Therefore, the fearsome power of government ought to be constrained to limited and specific purposes -- defending the life, liberty and property of citizens.
When government begins to meddle in the economy, picking winners and losers, using appropriations and fiscal policy to transfer money from one group of citizens to another, it divides society into two classes, taxpayers and tax consumers, punishing the former in order to reward the latter.
Such a policy is not merely misguided, it is immoral -- indeed, it is sinful, as I told the Christian homeschoolers -- and by displaying the spectacle of government engaging daily in legalized theft, the welfare state tends to corrupt the morals of its citizens.
THAT LONG-AGO SPEECH came to mind yesterday as the Senate prepared to vote on the mortgage bailout plan. Why, after all, are so many Americans so fiercely opposed to this plan, even though bailout proponents warn that the alternative is a complete meltdown of the economy?
The president has told us that "the government's top economic experts" believe the bailout is necessary to avert an economic collapse. The plan is supported by leaders of both parties in Congress, and endorsed by both John McCain and Barack Obama. One eminent pundit has denounced bailout opponents as "nihilists."
Yet I cannot escape the conclusion that the bailout is wrong. Not just wrong as a matter of politics or policy, but wrong as a matter of morality. And I suspect that the same moral instinct fuels the fervor of many citizens who have been burning up the Capitol Hill switchboard with calls demanding that lawmakers vote against this bill.
Ordinary Americans cannot ignore the "still small voice" telling them that what is being proposed is nothing less than government-sponsored grand theft, and that in a government "of the people, by the people, for the people," this crime is to be carried out in their name.
The fact that similarly massive expropriations -- from farm subsidies to Medicare Part D -- have been official federal policy for decades does not deter these opponents of the welfare state from rising up to shout "no!" when, as on this occasion, the proposition of a new swindle puts the fundamental issue into stark relief.
SOME SUPPORTERS of the bailout have said that it is "irresponsible" to oppose the plan, since failure to pass it would lead to a financial panic, a deep recession and economic hardship for millions. Supporters insinuate that opponents are ignorant of these potential consequences, having been whipped into a know-nothing frenzy by demagogues. If ordinary Americans were properly informed, say the bailout proponents, they would support the plan.
Those who suppose that ignorance motivates widespread resistance to the bailout may be underestimating the common sense of common people. Isn't it possible that grassroots opposition is both fully informed and completely sincere? Has it never occurred to bailout proponents that many of their fellow citizens would perhaps prefer an honest recession to a false prosperity?
Although much opposition seems to be driven by class-warfare resentment of a "bailout for billionaires," at least this brings into focus the underlying redistributionist principle. If it is right to give "disability" payments to winos and Social Security checks to affluent retirees, why is it wrong to give $700 billion to Wall Street financiers in their moment of need? Perhaps someone should put that question to left-wing bailout opponents like Michael Moore and Dennis Kucinich.
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Mark Seay| 1.16.09 @ 4:18PM
What does the Bible say about the Bailout?
By Mark Seay
“The Lord will open for you His good storehouse, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you shall lend to many nations, but you shall not borrow” (Deuteronomy 28:12). The Bible also says the borrower is slave to the lender. When you are in debt to another, you enter into a slave/master relationship with your creditor. Proverbs 22:7 reads: "The rich rule over the poor, and the borrower is servant to the lender".
Likewise, God wants us to lend to others. Obviously, this is difficult if you don’t have anything to lend. "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" (Deuteronomy 15:6). Also, Matthew 5:42 instructs us to "Give to the one who asks you, and do not turn away from the one who wants to borrow from you".
We are required to pay back what we borrowed. It is easy to take this lightly, but if we borrowed it, we should pay it back. "The wicked borrow and do not repay, but the righteous give generously" (Psalm 37:21). And too, Ecclesiastes 5:4 speaks loud and clear on God's expectations: "When you make a vow to God, do not delay in fulfilling it. He has no pleasure in fools; fulfill your vow".
On the other hand, the Bible does not say that it is a sin to be in debt. As aforementioned, it is not God’s best for us, but the Bible does not say that it is a sin. One could even argue the point that Jesus came to set us free from the bondage of sin. We were slaves to sin, until He set us free. If He wanted to set us free in one area, why would He want us to be slaves in another?
However, there is one instance in the Bible where God provides through a loan that can be found in II Kings 4:1-7. These few verses tell the story of an impoverished widow that was on the verge of losing her sons because of the debt of her late husband. In verse 3, the prophet Elisha instructs her to “Go, borrow vessels from everywhere, from all your neighbors—empty vessels; do not gather just a few.” God then proceeded to use the vessels to supernaturally provide the funds to redeem her sons from slavery and to provide for the needs of her household.
In fact, the size of this miracle was limited to how many vessels the widow could borrow! It is easily revealed that God’s provision offered a far greater blessing than just the settling of her miniscule debt. Our God is a God of MORE than enough!! (Note: Although God used what the widow already possessed, we are not limited from God’s blessings based on what we DO NOT have.) While the Bible generally does not encourage debt, this passage does indicate that there are instances in which it is appropriate, and even encouraged!
In keeping true to a keen sense of objectivity, let me propose the following argument as an advocate of our Lord's sovereignty. God grants us all different gifts and talents. And too, God deals with many of His children differently, although he mainly does this based on the principles of reaping. For His Word promulgates “Do not be deceived, God is not mocked; for whatever a man sows, that he will also reap. For he who sows to his flesh will of the flesh reap corruption, but he who sows to the Spirit will of the Spirit reap everlasting life. And let us not grow weary while doing…” (Galatians 6:7-9). Could it be that God deals with the issue of debt on a case-by-case basis? I'm not as resolute as I would like to be on this one.
However, I cling tightly to II Chronicles 7:14. If my people, which are called by my name, shall humble themselves, and pray, and seek my face, and turn from their wicked ways; then will I hear from heaven, and will forgive their sin, and will heal their land. We all have daily choices and we all need to make sure each choice in life falls in line with the Word of God. Remember, with every "IF" there comes a "THEN".
I may not know the right answer. I may not even discover the truth while I'm still in this body. But in the meantime, I'll keep working on my list of "IFs". When I arrive at my Father's Kingdom, I'm sure to get the answer to the "bailout" question. Hope to see you "THEN"!!
Mark Seay| 1.16.09 @ 4:19PM
These are some really informative posts.
Blessings,
Mark Seay
www.LighthousePrayerLine.org
Pingback| 3.14.09 @ 11:57PM
Robert Stacy McCain: “The Bible and the Bailout” « Prydain links to this page. Here’s an excerpt:
D R Sanchez| 6.18.09 @ 11:12PM
Bailout 2008 by David Jeffrey
Like a bloodied warrior,
laying broken and torn.
Like a dying soldier, hopeless and forlorn.
But the blood, it be green,
the color of money.
And the soldier is an economy,
and it is anything but funny.
Broken are it's people and shattered are their dreams.
Thanks to the ultra rich and their full proof schemes.
It is a tragedy with more pain to come.
Finance will be Hell, and their wills will be done.