As I was first learning the biblical principles of finance, I encountered many Bible verses that deal with money and wealth (there are hundreds). One of the verses that most impacted me was Proverbs 22:7. It reads, “The rich rule over the poor, and the borrower is slave to the lender (NIV84).” If you have ever had trouble with debt and creditors, you understand well what this verse is communicating. To be a slave to debt is a sad reality for far too many Americans today.
The debt of our federal government is well known. Many state and local governments have not fared much better—some even worse. We are in such a position for a myriad of reasons, but I believe that when it comes to debt (as is the case with most issues) our government is simply a refection of our culture. We have governments addicted to debt because far too many families and individuals in the
are addicted to debt. U.S.
When governments are swimming in debt, especially when it gets to the point of bankruptcy, the consequences are far reaching. There is no better example than the city of
With liabilities totaling about $18 billion, Detroit ’s Chapter 9 filing in the summer of
this year was easily the nation’s largest municipal bankruptcy. Detroit
With public services slashed, a fire-sale of city assets, and cuts to benefits for
Detroit employees, ’s citizens are in
the midst of a whirlwind of financial chaos and uncertainty. True to the
warning issued in Proverbs 22:7, a very
recent L.A. Times column noted
that the misery in Detroit
had some citizens describing their situation as enslavement. Detroit
Of course, when dealing with something described as “enslavement,” as is typical of a liberal publication such as the L.A. Times and with the liberal mindset of the vast majority of
“racism” is the frequent cry when lamenting the sad reaping the Motor-City is
now enduring. Detroit
To further push the racism narrative, The Times found several individuals willing to use the “slavery” analogy: “‘We still remember—we haven't forgotten—that we are only a few footsteps away from slavery,’ said Monica Lewis-Patrick, a community activist who works at Hush House, a shelter in one of Detroit's most embattled neighborhoods.” Also testifying in court, Sheilah Johnson tearfully wondered, “When my 9-year-old grandson asks me, ‘Grandma, are they trying to make us slaves again?’ how do I answer that child?” Johnson added, “We do not need a slave owner, and I am not a slave.”
The Times piece ends with Hickey concluding, “But racism is still a huge issue. It's a hard conversation to have, but it's an important one, and we need to have it.”
Yes, there is a conversation to be had, and yes, we are dealing with a form of enslavement. However, racism has virtually nothing to do with it.
The most common themes with municipalities facing dire debt consequences are billions in unfunded pension and healthcare liabilities. Also, according to Stephen Moore, senior economics writer for The Wall Street Journal, of the
cities in the most trouble
financially, “the vast majority are located in states with forced unions,
non-right-to-work states.” U.S.
As Moore explains, “For at least the last 20 years major U.S. cities have been playgrounds for left-wing experiments—high taxes on the rich; sanctuaries for illegal immigrants; super-minimum wage rules; strict gun-control laws (that actually contribute to high crime rates); regulations and paperwork that make it onerous to open a business or develop on your own property; crony capitalism with contracts going to political donors and friends; and failing schools ruled by teacher unions, with little competition or productivity.”
Over 80% of
citizens are black. Anyone with an attention span greater than that of a Miley
Cyrus fan knows the overwhelming rate at which Detroit blacks vote for liberals. As
more and more state and local governments draw ever closer to their day of
reckoning with their debt masters, just as in U.S. , they too will learn the hard lessons
of Proverbs 22:7. And any U.S. citizen, whatever the skin color, who doesn’t
want to find himself feeling like a slave needs to get off the Big Government