Biblical Perspective on Public Budgetary Process

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 a responsible administration should consider. Debt is a major problem for many countries around the world, and it is important that people hold their government accountable for this debt. Government debt can have a number of negative consequences, including high interest rates, inflation, and economic instability. In addition, government debt can lead to higher taxes, which can be a burden on taxpayers (Bremer & Burgisser, 2022). It is therefore essential that people are aware of their government\\\\\\\'s debt situation and hold them accountable for it.