Dear Chuck,
I am really worried about the skyrocketing debt of our federal government. It seems that 250 years is something to celebrate, but the truth is we have more debt than we can handle. Do you think we can fix this?
America’s Runaway Debt
Dear America’s Runaway Debt?,
Certainly, Uncle Sam is loading us all up with more and more debt.
You can track the national debt using one of these helpful websites: National Debt Clock, US DebtClock.org, or National Debt Per Person. They all indicate that we are presently at about $300,000 per household in debt as of this writing.
Our founders believed that excessive public debt threatened national independence, prosperity, and future generations. Their concern was that borrowing today places burdens on tomorrow’s citizens—a principle that aligns closely with biblical stewardship and the idea of leaving a healthy inheritance to future generations.
Next week, America celebrates the 250th anniversary of her independence. Ironically, the nation is independent from foreign control but highly dependent on debt. There are reasons that citizens should be concerned and ways I think we should respond. Let’s look at the problem first.
Runaway Federal Spending
The US federal debt is the result of many factors, including entitlement spending, defense spending, welfare programs, interest on existing debt, economic downturns, and years of budget deficits. Eventually, interest payments consume resources that could otherwise be used for infrastructure, education, public safety, or tax relief.
Federal debt becomes increasingly dangerous when it grows faster than a nation’s ability to manage and repay it. The concern arises when borrowing becomes a long-term substitute for fiscal discipline.
High debt threatens flexibility during crises. If a recession, war, or national emergency occurs, a heavily indebted government has fewer options available because so much of its budget is already committed. It burdens future generations. Current citizens (and non-citizens) enjoy benefits today while passing the costs to taxpayers tomorrow.
Historical Perspectives on America’s Debt
“Avoiding likewise the accumulation of debt, not only by shunning occasions of expense, but by vigorous exertions in time of peace to discharge the debts.”
(George Washington, Farewell Address)
“To contract new debts is not the way to pay old ones.”
(George Washington, letter to James Welch, Apr. 7, 1799)
“There is no practice more dangerous than that of borrowing money; for when money can be had in this way,’ repayment is seldom thought of in time, the interest becomes a moth, exertions to raise it by dent of industry ceases, it comes easy and is spent freely, and many things [are] indulged in that would never be thought of if [they were] to be purchased by the sweat of the brow…. in the mean time the debt is accumulating like a snow ball in rolling [sic].”
(George Washington, letter to his nephew, Samuel Washington, Mount Vernon, 12 July, 1796)
“I, however, place economy among the first and most important republican virtues, and public debt as the greatest of the dangers to be feared.”
(Thomas Jefferson to William Plumer, July 21, 1816)
“We must make our election between economy and liberty, or profusion and servitude.”
(Thomas Jefferson to Samuel Kercheval, 1816)
“A government that is big enough to give you everything you want is strong enough to take everything you have.”
(Gerald Ford, Address to a Joint Session of Congress, August 12, 1974)
“The problem is not that people are taxed too little, the problem is that government spends too much.”
(Ronald Reagan)
Can It Be Fixed?
Yes, it can be fixed but it will not be easy. A nation can move toward a balanced budget and debt reduction in two ways:
Alexander Hamilton argued that a thriving economy and productive enterprise strengthened the nation’s finances and ability to meet its obligations. Prosperity is strongest for individuals or nations built on productive work, opportunity, and responsible stewardship.
History has shown that our nationally elected officials have no interest in reducing spending. They cannot agree even with the need to live on a balanced budget! So don’t expect us to ever use austerity measures to fix this.
America needs economic growth, job creation, and spending discipline, rather than only relying on fraud reduction and the hope for austerity programs. If millions more Americans are working, earning income, buying goods, and starting businesses, government revenues rise through income taxes, payroll taxes, and business taxes—often without increasing tax rates.
What to Do?
Nobody can predict the future, but we can analyze the facts and be prepared accordingly. The reality is that economic shocks can come from many directions. A layoff, a recession, inflation, a market downturn, or an unexpected emergency can quickly disrupt even the best financial plans. Individuals should prepare practically while trusting God ultimately. This grants stability and peace instead of panic. These are wise financial moves to make now:
Ronald Reagan said, “There are no easy answers, but there are simple answers. We must have the courage to do what we know is morally right.” The “we” are you and me. We must become educated and involved while motivating others to join us.
Crown has many biblically based, practical, and empowering courses and studies that can help your family find financial freedom. Learn how to be a faithful financial steward of the resources God provides.
This article was originally published on The Christian Post on June 26, 2026.
Subscribe for Weekly Updates
"*" indicates required fields
Search
Start with the Money Map, your guide to living in freedom with your finances.
Christian Credit Counselors
Is credit card debt causing you stress and strain? Christian Credit Counselors would like to help!
