I, like many Americans, have been carefully following what's going on with the financial crisis and proposed bail out bill. I'm not an economic expert, but I think I grasp the basic principles behind what's going on. I have a number of concerns with the proposed bill. I fear a knee jerk reaction that centralizes power in the executive branch (this seems to be a common response to crisis in the current administration). I'm worried about the continued devaluation of the dollar as the government takes on more debt, and I'm worried that if the bill passes it will place a band-aid over our current problems without addressing the deeper problems in our economic situation.
Many people have argued about what the underlying causes of the economic crisis. I don't think the blame can be placed on any one group of people, but I do think the problems we're seeing now are symptoms of a more significant condition lying underneath the surface of our nation. It is much, much harder to identify and respond to these deeper problems, but I think it is vitally important that any proposed solution makes an attempt to treat the disease rather than just the symptoms.
And here is where what's going on at the national level ties into my own life. There have been some pretty ugly symptoms bubbling up to the surface of my life lately, and it's easy to just push them to the side or treat them on an individual basis. However, they're indicative of a deeper problem, and I have to address the real issues if I hope for any long term resolution. The problems that I see are, I believe, a form of God's grace. By creating me in such a way that problems with my heart will inevitably bubble up so that I can't ignore them, He has created a sort of self-correction mechanism in the very fabric of my being. If I could ignore my sin, I could continue on a path that leads me farther from the Creator for whom my soul truly longs. But I cannot, so I am constantly led back to Him.
If the problems in our nation are an act of grace, what are they calling us to? Certainly they put the lie to the notion that money is a good place to place our security. They show us the consequences of living unwisely, and the inevitable result of allowing greed to run amok. How can we, as a nation, address these issues? I think the primary result on a national level should be to ensure that we are good stewards with the resources we have been given. I honestly believe that wise investment of our money in the priorities of our nation will have a positive impact on the general health of the world around us AND our economic markets. My understanding of the bill presented to Congress doesn't indicate attention to any of these matters - it seems like an attempt to grasp more tightly to wealth that is already slipping through our fingers.
So, I shall pray for a heart that is open to what God is speaking to my own life, and I will pray that the leaders of our country will likewise seek after wisdom. May we see our current crises, whatever they are, as acts of grace, a chance to repent, and an opportunity to draw closer to God our father.
2 comments:
Jeromie, an honest question:
How do you see the bailout devaluing the dollar? Wouldn't that require us to print money instead of shouldering the debt on the taxpayers? Isn't it more likely that the dollar will lose value if our credit markets stay frozen?
You could be right - I'm honestly not an economic expert.
My reasoning is this: when you take on 700 billion dollars of debt with money you don't have, you _are_ printing money, whether the treasury turns up the printing presses or not. As our nation becomes increasingly mired in risky debt, it makes investment in the dollar a bad choice for other countries. There's a limit to how many IOU's we can have out in the wild and have people expect us to actually pay them back one day.
Now obviously, a completely frozen credit market has the same effect. Something has to be done, but the currently proposed solution reminds me of the people buying houses on credit with the expectation that their old one will sell - and you see where _that_ has gotten us.
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