People have debt. Countries have overseas debt.
What does it mean to be in debt?
Two things:
- It means one is living beyond one’s income
- It means one must pay interest on the debt.
Where there is debt there is a lender and a borrower. Debt is profitable for the lender. Debt is a burden for the borrower.
Countries with large overseas debt create a burden for generations to come as they are the ones required to pay the debt. Someone said, “being committed to debt from cradle to grave.”
The Bible says, “Let no debt remain outstanding, except the continuing debt to love one another, …” You find that in Romans 13:8