SHOW ME THE MONEY!

The Biblical witness has taught me that faithfulness involves good stewardship of our financial house.  Dealing with debt and paying bills has Biblical groundings.  When I was at Sky Ranch, we had the challenge of addressing a $235,000 debt that was costing $25,000 a year in interest.  Recently, at Luther Theological Seminary, the president was let go because under his stewardship the seminary debt had sky-rocketed.  Personal indebtedness in our country is huge.  Then we have the national indebtedness of about $16 trillion!  

How we deal with debt is a moral question.  Many of our national leaders believe that lowering taxes on everyone is the answer. Then, cutting entitlements on Medicare, Medicaid, and Social Security are necessary.  Of course, leaving the defense budget in tact is necessary, even though our DB is the size of the next 15 major countries combined.  Is there another way that ensures compassion and justice for everyone?  I was intrigued by an article in the Huffington Post that listed 10 ways to deal with debt that protected entitlements.  I think they are helpful:

1.  PRISON REFORM: The USA has 5% of the world's population and 25% of the world's incarcerated population.  The cost is $680 billion over 10 years.  How about releasing nonviolent elderly prisoners, offer treatment and counseling to nonviolent offenders, shorten sentences for good behavior prisoners, and substitute probation for jail time?

2.  END THE DRUG WAR: We spend $15 billion a year on the fight, plus pay for the incarceration of offenders, most of whom are committed a nonviolent drug offense.

3.  LET MEDICARE NEGOTIATE WITH BIG PHARMA: We spend 15% of our total economic output each year on health care.  This is 50% more than Canada. Medicare spends approximately $50 billion a year on prescription drugs.  One economist says that USA folks spend 10 times more than what they need to pay if Medicare could negotiate with drug makers.

4.  ELIMINATE OFF-SHORE TAX HAVENS:  Save $100 billion a year.

5.  DEPRIVATIZE GOVERNMENT CONTRACT WORK: Private contractors are paid nearly double what a government worker is paid.

6.  PRINT MORE MONEY: Accept moderate inflation.  Make debt more manageable. 10.8 million homes are underwater.  Student debt is at $1 trillion.  Inflation can be controlled.  Right now, give people a break.

7.  PRINT LESS MONEY: Mint $1 coins rather than $1 bills.  Over 30 years the government could save $4.4 billion.

8.  IMMIGRATION: LESS DETENTION AND MORE ANKLE BRACELETS: The government spends about $122 a day to detain immigrants, most of whom are nonviolent.  $15 will pay for an ankle bracelet.

9.  FINANCIAL SPECULATION TAX: Tax every Wall Street trade at the ultra low rate of 0.25%. This would raise about $150 billion a year!

10.  CARBON TAX:  Taxing greenhouse gases would raise $80 billion a year and up to $310 billion a year by 2050!

Entitlements need to be preserved as a moral foundation.  As we can see, there are ways to address our national debt and take care of our people.  Certainly, no strategy is perfect.  But the above suggestions are worth a try, and my guess is that most would work well together, freeing us up to address the pressing issues of our nation.  Let's give it a try!  Show me the money!  Well, here it is!

Peace!