Delving into the world of economics is a tricky business. One economist will voice alarm over a specific problem while another equally capable and trained authority will dismiss concerns as unnecessary and predict continuing economic prosperity. For an untrained observer to venture in these waters it can get a bit dicey. Nonetheless, it a subject this column dares address.

You do not have to a trained economist to know that to spend more than you save over a protracted time is bad business. For an individual to do this will lead to bankruptcy and a major financial reversal. When a small business can't balance it's books it will go out of business. Yet when a nation does the same there seems to be a different set of economic principles at work.

It has been a long time since America has had a balanced budget. Yet it is the engine of our global economy. China is building its economic boom on sales to America. Every night a whole fleet of FedEx jets depart its shores bound for Memphis, Tennessee and filled with goods bound for department store shelves across the country. A sharp decline in the value of the dollar would impact China and other nations holding our dollars. It is in their interest to see that we continue to be a viable world economic power. But when might this change? What does the future hold?

I am linking to a good analysis of both sides of the issue given today by Daniel Drezner in his blog. Read it for a good overview. It is a good start for our discussion. We come back to this subject periodically.

Keep in mind what God says in Proverbs 22:7. It is a principle that applies to this discussion. How long could it be before America falls to a servant status because of it's fundamental economic problems?