A special edition of Newsweek titled "Issues 2011" recently reported: "As the world enters 2011, we are adapting to the new reality of the post-crisis era. At its roots, the crisis was a symptom of a broader dysfunction in our global, political, economic and social order. We are now paying, and continuing to pay, for the sins of the past" ("To Our Readers," December 2010–February 2011).

It becomes a matter of more than just passing interest that our present plight would be described in biblical terms by the chairman and executive chairman of a popular American newsweekly with an international edition!

According to the Bible, sin is the violation of God's law (1 John 3:4). And sooner or later, transgressing God's law exacts an inevitable penalty. Even nations end up paying that penalty, and until the penalty is paid it remains as an outstanding debt to justice. The New Testament sometimes speaks of sin in terms of debt. Jesus instructed us to pray, "And forgive us our debts" (Matthew 6:12).

This Newsweek preface goes on to depict some of our specific economic sins: "Governments have assumed massive debts to save the global financial system from total collapse. As a result, countries are now grappling with higher taxes, severe reductions in public goods and services, and dwindling investments in education and infrastructure. Public disillusionment in business and political leadership is dangerously high. Because of our continued tendency to put off problem resolution, to the detriment of our children and grandchildren, we may yet trigger a deep social and generational crisis. All these are the defining features of our new reality."

The Bible simply says, "For the children ought not to lay up for the parents, but the parents for the children" (2 Corinthians 12:14). James Hoge, Jr., the now retired editor of Foreign Affairs, frankly stated: "The United States' influence, diminished by the rise of other states and nonstate actors, will be fatally undercut if the country does not curb its unsustainable reliance on debt" (Oct. 26, 2010).

If you would like help in coping with any personal debt difficulties, read our free booklet Managing Your Finances. (Sources: Newsweek, Foreign Affairs.)