Fox News reports that the United States’ national debt surpassed $36 trillion today (11/22/2024) for the first time in history, as the federal government continues to accumulate debt at a record-setting pace. New data from the U.S. Treasury Department indicates that as of this afternoon, the gross national debt hit $36,034,994,586,981.97.
The total U.S. debt is the amount of debt held by the public – a metric favored by economists and that excludes debt held in intragovernmental accounts like the Social Security trust funds. The total debt is projected to reach 99% of the size of the U.S. gross domestic product this year.
The Fox News article may be read in full HERE.
My brothers and sisters, one does not need to be a financial expert to realize that debt in an amount exceeding $36 trillion (and increasing) and which currently approaches 100% of the U.S. gross domestic product for the year is a PROBLEM!
The Bible makes it clear that the borrower becomes the slave of, or is subservient to, the lender.
Deuteronomy 28:12-13 (Amplified Bible)
Moses’ Instructions to the Israelites After Nearly 40 Years in the Desert
“The Lord will open for you His good treasure house, the heavens, to give rain to your land in its season and to bless all the work of your hand; and you will lend to many nations, but you will not borrow [emphasis mine]. The Lord will make you the head (leader) and not the tail (follower); and you will be above only, and you will not be beneath, if you listen and pay attention to the commandments of the Lord your God, which I am commanding you today, to observe them carefully.”
Proverbs 22:7 (NKJV)
“The rich rules over the poor, [a]nd the borrower is servant to the lender [emphasis mine].”
Got Questions speaks about what it means to be ‘the head and not the tail,’ stating that from the context of Deuteronomy 28:13, we know it is better to be the head than the tail. In the previous verse, the lender has wealth and power while the borrower is subservient. Being the head would have a similar meaning. The head is the leader, the one who decides and charts the course, while the tail just has to follow along. The head decides where to go and what to do, while the tail has no say in the matter. As the head, Israel will be the one in charge, making decisions and charting her own obedient course under God’s blessing and protection. As the tail, Israel will be at the mercy of other nations who will dictate what she does and where she goes.
The Got Questions commentary may be read in full HERE.
We should pray for our land (our country) and for all of our governmental leaders to seek and govern in godly wisdom, as the current level of debt is unsustainable and in the end (perhaps more quickly than we might like to consider) the borrower may require immediate repayment. The love of money is a root of many kinds of evil. It causes many to wander from the faith and the truth. The result will not be pleasant!
2 Chronicles 7:14 (NKJV)
“…if My people who are called by My name will humble themselves, and pray and seek My face, and turn from their wicked ways, then I will hear from heaven, and will forgive their sin and heal their land.”
1 Timothy 2:1-3 (ESV)
“First of all, then, I urge that supplications, prayers, intercessions, and thanksgivings be made for all people, for kings and all who are in high positions, that we may lead a peaceful and quiet life, godly and dignified in every way. This is good, and it is pleasing in the sight of God our Savior…”.
1 Timothy 6:10 (ESV)
“For the love of money is a root of all kinds of evils. It is through this craving that some have wandered away from the faith and pierced themselves with many pangs.”
