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Inside Washington

What happens in the halls of national government – for better or for worse – can dictate the future course of America. Along with your fellow Prayer Team members, you are to be constantly and fervently interceding for all the men and women who serve in Congress, for your military leaders in the Pentagon, and for the President of the United States, his cabinet and administration.

“Inside Washington” will equip you to do just that … with reports on the nation’s leaders and the decisions they’re considering … or have already made. We’ll examine the implications for the nation, and call you to specific prayer for those needs.

Who is Responsible?

Inside Washington

Finances are Out of Control

By Linda Gilden

If you forget for even a moment that election day is getting closer, just turn on the television. You won’t have to wait long for a reminder. Candidate commercials abound.

Candidates for President of the United States of America use their camera times rehashing subjects that have been around for years. How can they close the gap between those who have been very successful in an economy and the many who are struggling? How can they improve the health of and care for those in this country who can’t afford to care for themselves? Can more jobs be created to help people help themselves?

Topics in the forefront range from healthcare, foreign policy, income, and unemployment, to international trade policies, immigration, and the national debt. But many who watch those commercials waiting for a glimmer of financial hope for this country aren’t aware that the true control of our financial future rests not in the hands of the elected officials but in the hands of the unelected Federal Reserve Board.

Americans have been concerned about the national debt for a long time but if our elected officials cannot “fix it,” what is the solution? The solution lies within the Federal Reserve’s addressing the national debt and inflation.

Janet Yellen of the Federal Reserve says, “Uncertainty concerning the outlook for inflation also reflects, in part, uncertainty about the behavior of those inflation expectations that are relevant to price setting. For two decades, inflation has been relatively stable, reacting less persistently than before to temporary factors like a recession or a swing in oil prices. The most convincing explanation for this stability, in my view, is that longer-term inflation expectations have remained quite stable.”

To citizens on the outside looking into the area of finance, all this talk of balanced budgets and inflation explanations can be baffling. Perhaps your eyes should not be focused so much on the numbers and the elected/not elected officials but on the only hope for the world – Jesus Christ. Should people turn away and just ignore the financial stress America is under? Absolutely not. But for many years, the battle to lower inflation has had the opposite effect. The national debt has grown bigger and bigger and this nation has struggled with how to decrease it. There must be another way.

But instead of looking at the the overall state of national finance, perhaps individuals can help to restore balance by being diligent about managing their own finances. As Christians who understand God’s economy, you have the hope of knowing that He will take care of everything and, in the end, the national debt will not be a major concern to you.

Luke 16:11 says, “If then you have not been faithful in the unrighteous wealth, who will entrust to you the true riches?”

God has put America to the test. For years, He has watched our leadership make bad decisions concerning the finances of this amazing country. That must surely grieve Him. But those who want to be good stewards of what God has given us, must take Luke 16:11 to heart.

Of the upcoming election, Dr. Michael Ivanovitch (an independent analyst focusing on world economy) says, “Voters and their elected representatives will have to decide on the possibilities of revenue-neutral income redistribution with an appropriate adjustment of our tax code. That's the only major fiscal policy change that I could see, but your guess is as good as mine whether the future Congress and the White House will be able to agree on that. At any rate, that would also require a strong, grass-roots political commitment of the American people.”

Dr. Ivanovitch goes on to say, “The other fiscal change that I could see is an equally politically contentious rearrangement of national priorities within the federal budget. Education, science, technology and nation's healthcare should be, in my view, top of that list. However, to keep all that revenue-neutral, somebody else's ox would have to be gored. That is tough, because the powerful Beltway will fight to the last man.”

This week pray:

Linda Gilden is director of writing programs for a popular Christian communication organization. She not only writes full time but also directs two writers conferences, speaks, edits, and enjoys encouraging writers to fulfill their writing dreams.

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