The little child said it first in "The Emperor’s New Clothes," the 1837 story by famed Danish poet Hans Christian Anderson. The story describes con artists who convince the king that they can weave a new invisible and expensive garment for him, and he mindlessly buys into their charade and parades naked before his citizens. Most of his subjects, fearing retribution if they said what was obvious, silently go along with the ruse until a child, naturally endowed with innocent honesty yells, "But he has nothing on!" Still, the king paraded on.
Prominent politicians, especially those seeking votes in a financially downturning election year, can’t bring themselves to say, "The government has no money." Instead, they politic gamely on suggesting that our government is awash in an artesian cash flow to cover every bank failure and buy up every failed mortgage and even refund money to millions of non-workers. But the government has no money, unless we consider printing more. Or we may really believe that an infusion of borrowed funds from China and Japan make us rich. Living on borrowed money means living on borrowed time.
Our economy is based on velocity, much like an airplane that stays aloft by supplying adequate fuel to its engines to sustain substantial airflow over its wings. When it’s out of gas, it slows, stalls and plunges earthward. We’ve lost momentum and hope there is enough altitude for recovery while we plead for emergency fuel.
All this reminds me of the solitary hope of spiritual recovery for the bankrupt sinner whose spiritual debt has submerged him in an ocean of despair. I recall the old song by F.M. Graham.
There was a time on earth when in the book of Heaven,
an old account was standing for sins yet unforgiven.
My name was at the top and many things below.
I went unto the Keeper and settled long ago.
The old account was large and growing every day,
for I was always sinning, and never tried to pay.
But then I looked ahead, and saw such pain and woe,
I said that I would settle, I settled long ago.
Long ago (down on my knees), long ago (I settled it all),
Yes the old account was settled long ago.
And the record’s clear today for He washed my sins away
When the old account was settled long ago.
Years ago in Russia, a young military officer gambled away his fortune and way beyond into hopeless debt. One night, as a lone candle burned in his military tent, he took pen and paper and totaled his debt, appending a brief note. Knowing there was no way out, he cocked his pistol, and prepared to end it all. Weary of life, he put his head down to rest before the inevitable deed and dozed off.
During the officer’s fitful sleep, Tsar Alexander walked through the camp making sure all was well. Noticing the flickering candle but no sound except the labored breathing of the doomed man, the Tsar lifted the tent flap, quietly entered, saw the pistol and read the note which said, "The debt is too great, who can pay it?" Lifting the pen, the Tsar wrote, "Alexander will pay."
At length, the officer awoke and, just before placing the gun to head and pulling the trigger, he glanced down to read Alexander’s promise of rescue. The Tsar paid, and the officer lived.
Christ is our greater payment through His shed blood. Someone once put it this way: "I owed a debt I could not pay. He paid a debt He did not owe." Receiving His full payment means our sins and iniquities He remembers no more (Hebrews 10:17).
What is true personally is true nationally. Hopelessly in debt through our greed and thievery, national humility and repentance is our only hope. Joel 2:12-14 outlines the solution:
"‘Now, therefore,’ says the Lord, ‘Turn to Me with all your heart, With fasting, with weeping, and with mourning.’ So rend your heart, and not your garments; Return to the Lord your God, For He is gracious and merciful, Slow to anger, and of great kindness; And He relents from doing harm. Who knows if He will turn and relent, And leave a blessing behind Him…"
Dave Virkler
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