Replies to Megan and Teresa
Megan
You are right to point out that an important practical pressure affecting public sector budgeting is a higher debt level because it does represent a burden on future interest fees and principal repayment. As government debt levels have increased in recent years, so too has the amount of interest that must be paid on that debt (Mikesell, 2018). This is an important factor to consider when developing a budget, as it can have a significant impact on the amount of money available for other expenditures. In addition, when debt levels are high, it can be more difficult to obtain financing for new projects, as lenders may be hesitant to lend to governments with high levels of debt. Therefore, it is important for government officials to carefully consider the implications of taking on new debt when developing their budgets.
From a biblical standpoint, government should really think about the debt that is mounting when planning a budget. Proverbs 22:7 states, The rich rules over the poor, and the borrower is the slave of the lender. This should be a warning to the US administration: for who buys the debt the US sells to pay for the expenditures in its public budget? Is the US selling itself into slavery under foreign countries in order to fund public programs? Is it a slave to the banks that buy up the debt? This is an important consideration that...
…is important for citizens to be involved in the budgetary process. As 1 Timothy 5:8 states, But if anyone does not provide for his relatives, and especially for members of his household, he has denied the
faith and is worse than an unbeliever. This is a strong statement, but it underscores the importance of taking care of ones loved onesand also the community of ones nation. The
family is the basic unit of
society, and those who are able to care for their families are generally better able to contribute to the wider community. For this reason, believers should be quick to help those who are struggling to make ends meetand that means we are all bound to take care…
