“The realm of money and debts was not a morally neutral realm in God’s law, but a sphere of moral responsibility. Neither creditor nor debtor lives in an area of freedom from the law and ethics, but always under God.
“One distinction, however, was notable. God’s redeemed people are a free people in the crucial area: they are delivered from the power and penalty of sin. They have therefore the ability to use freedom. God’s law permits the ungodly to contract long-term debts. The world of the 1990s is dedicated to long-term debt as a way of life, and God permits it, knowing that it is a way of death.
“For the godly, debts must be limited to six years (Deuteronomy 15:1-6; 12-18). We are God’s people, and we must not be man’s slave, for debt is the world’s most popular form of slavery. Debt then led often to bond-service to work off a debt. Such persons were not to be treated as slaves but as a hired hand or temporary resident until repayment or the jubilee (Leviticus 25:39-42).
“The covenant people were to be a free people, and therefore their ability to contract long-term debt was denied. This ability to contract long-term debt is a license to slavery, for slavery is ownership in another man’s labor. Too many people pay up to 50 percent of their income to creditors, and this is surely a form of servitude. With World War 2, and the rise of modernism and antinomianism, bank loans in the United States went from five year notes to twenty and thirty year mortgages. This was seen by most as a benefit rather than as slavery.
“As a general rule, God requires that we ‘owe no man anything, but to love one another’ (Romans 13:8). In cases of troubles and needs, short-term debt is permitted, up to six years. Now the prevailing opinion is that long-term debt is good both for men and nations. We shall pay the price for such a belief.” — R. J. Rushdoony
And now it should be time to “pay the piper.” Not only did many Americans buy-into the long-term indebtedness that the bankers were selling, they did so at an enormous price. The so-called “sub-prime” loans, if done by a retailer, would be called “bait and switch advertising.” The loan has an adjustable interest rate (usually it can be adjusted annually). So, to refer to it as “sub-prime” is really disingenuous. The low-rate that the person qualified for lasts only a year or two (five at most) and then begins to move upward at a rate that makes Shylock’s pound of Antonio’s flesh look tame.
But we will not learn our lesson and we will not pay the piper. The government will sign your name and the names of your grandchildren to the loans and bail out the banks. Perhaps even a few borrowers will be bailed out as well. But make no mistake; the talk of saving the sub-prime mortgages is more about J. P. Morgan than it is John Q. Public.
“Since there is no church in other religions, the revolutionary program of the state and of revolutionists becomes easier to put into effect. The church as the body of Christ, the covenantanted community whose life is given by sovereign and electing grace, is both a natural and a supernatural community. It is the instrument of the new Adam, who is the new head of the natural order and the church is thus a natural institution; it is also supernatural, because it is ordained and brought into being by God. Its ‘destruction’ thus is unlike the destruction of tribal groups; its life is beyond the reach of the state.
“Similarly, the community of the atonement must be at war with the modern state and its antinomian law. It must declare such a state to be antichristian and lawless. It must work to bring men to the knowledge of the regenerating God and his son, Jesus Christ, and then to establish in every area the power of the godly community.” — R. J. Rushdoony
The only way the devil’s crowd can carry the day in America is if we don’t show up. So it makes sense that the devil’s crowd tells us we have no right to bring our ideas or our way of life into the marketplace of ideas. The revolutionary program has no chance of destroying the “community of the atonement,” so they must convince us that we are irrelevant. Huckabee may not be our man, but he is demonstrating that if we had a man in the race we could win on the cheap. Begin planning for 2012.