Prayer #50: For the Rising U.S. Government Debt During the Coronavirus Crisis
Currently, additional Coronavirus relief bills are being considered by Congress, as a response to the devastating economic conditions produced by the Coronavirus outbreak; if these pass, the total relief amount thus far would be $5 trillion. The total U.S. government debt now exceeds $24 trillion, and there is concern that, although these relief measures are critically needed right now, the government's debt may have entered into a very dangerous level.
The government debt level is often expressed as a measure of Gross National Product (GNP), as a way of evaluating its health or risk. The present level of debt is more than 100% of GNP, considered by many economists to be well into an area of considerable economic danger. We do want to pray for wisdom for the President and Congress going forth from here, as they will need to find the proper balance between meeting the economic crisis and preventing an even greater one due to the rapidly ascending debt.
So today, we do pray the God would grant much wisdom to the President and Congress. They are faced with a very difficult dilemma. On the one hand, there is an unprecedented economic crisis, and on the other, the rising U.S. debt is in a dangerous place. Pray that they would know how to navigate through these two challenges. Pray too that there would soon be much economic relief as some states are able to relax the COVID-19 restrictions. Pray for a quick recovery for the economy, and that the debt could then be paid down rapidly.
Ps . 111:10: "The fear of the Lord is the beginning of wisdom; a good understanding have all those who practice it."