It is about time. It has been a long time. Pay me what you owe me. Have you ever used that phrase before? Has anyone ever said it to you? Do you need to say it to anyone – it is about time, pay me what you owe me? Do not think I forgot. Well, people usually use that phrase whenever they are fed up or have had enough.
As a country, and people, we know debt. All of us have payments to make. All of us have obligations to meet. It is a way of life. Some of us owe for the vehicle we drive. Some of us owe for the house we live in. Some of us owe for the appliances in our homes. Some of us owe water and electrical bills and the school and bank loans we accrue. Being in debt is never fun, nor is it easy. As for the country, we know what it is like to be in debt and unable to pay others as well. Our national debt is astronomical, and we have to pay it. There is no getting around it.
You see, along with the debt comes the responsibility. We have a duty to pay what we owe. We all know our individual emotional state when we are unable to pay our debt – heartaches, stress, and sleepless nights. The same holds true for those in leadership positions who are responsible for paying the nation’s debt as well. Just think about their emotional state if they cannot meet their debt commitments. Not being able to pay debt can trigger or worsen conditions such as anxiety, depression, and stress.
When a country is unable to pay its debt, it is said to be in default. The consequences of defaulting on debt can be severe and long-lasting. Firstly, the country’s credit rating will be downgraded, making it more difficult and expensive to borrow money in the future. This can lead to a vicious cycle of borrowing more money to pay off existing debt, which can ultimately lead to a debt crisis.
Secondly, the country will suffer from a reduction in its purchasing power. This can make it more difficult for the country to import goods and services, leading to shortages and price increases.
Thirdly, the country may be forced to cut spending on essential services such as healthcare and education in order to pay off its debt. This can lead to a decline in living standards for the country’s citizens.
And finally, the country may be forced to sell off its assets such as land, natural resources, and public utilities to pay off its debt. This can lead to a loss of sovereignty and economic independence for the country.
Do you now get a bigger picture, as to the reasons why we have to sacrifice to pay the country’s debt? When a person owes us, we want and expect them to pay their debt to us and they should. Do you owe anyone? Does anyone owe you? Do you want them to pay you? Do you intend to pay those people you owe?
The Bible has several verses that discuss debt and its implications. Here are some of the most relevant ones:
Romans 13:8 states “Let no debt remain outstanding, except the continuing debt to love one another, for whoever loves others has fulfilled the law”.
Psalm 37:21 says, “The wicked borrow and do not repay, but the righteous give generously”.
Proverbs 22:7 warns that “The rich rule over the poor, and the borrower is slave to the lender”.
Romans 13:7 states, “Pay to all what is owed to them: taxes to whom taxes are owed, revenue to whom revenue is owed, respect to whom respect is owed, honor to whom honor is owed”.
Proverbs 22:26-27 state, “Be not one of those who give pledges, who put up security for debts. If you have nothing with which to pay, why should your bed be taken from under you?”.
The Bible contains stories of debt as well:
1. One is found in Matthew 18:23-25, about a debtor who owed millions of dollars to a king. He was sold along with his family and possessions to pay the debt.
2. Another is found in II Kings 4:1-7, about a widow who was on the verge of losing her sons because of her late husband’s debt. She was told by the prophet Elisha to borrow empty vessels from her neighbours, which enabled her to repay her debt.
Paying one’s debt is a serious business my friend. Paying off debt is a serious business because it can have a significant impact on the financial health of an individual, a business or a country. So, let us heed the saying, “We owe, we owe, so off to work we go.”
Remember: The speed of our success is limited only by our dedication and what we are willing to sacrifice. We must gain control over our money or the lack of it will forever control us.
About the Author: Mrs. Marilyn Hodge owns and operates the Wellness Centre in the Farrington, Anguilla. The Centre offers Counselling Services by Appointment Only and has now published Positive Living Volumes 1 through 3. Coming Soon – Volume 4. Contact information: 476-3517 or email: marilynb@anguillanet.com. www.facebook.com/axawellnesscentre
