Debt - Revision history

Aschlafly at 20:06, August 26, 2026

2026-08-26T20:06:18Z

DavidB4-bot: /* Personal debt */clean up & uniformity

2016-07-13T11:30:53Z

Personal debt: clean up & uniformity

JDano: clean up

2016-02-21T03:40:18Z

clean up

TheAmericanRedoubt at 03:49, December 11, 2014

2014-12-11T03:49:07Z

TheAmericanRedoubt: Slightly expaned article content

2014-04-15T07:14:41Z

Slightly expaned article content

DouglasA: /* National debt */ Not a useful stat, nor true

2013-01-25T23:13:08Z

National debt: Not a useful stat, nor true

Michael4: Expanded article

2011-04-26T01:07:32Z

Expanded article

DavidE: more info with source; added references section

2008-03-25T20:12:46Z

more info with source; added references section

Murray: Undo revision 412948 by Special:Contributions/IHateGayPeople (User talk:IHateGayPeople)

2008-03-25T18:43:39Z

Undo revision 412948 by Special:Contributions/IHateGayPeople (User talk:IHateGayPeople)

IHateGayPeople at 18:40, March 25, 2008

2008-03-25T18:40:58Z

← Older revision		Revision as of 20:06, August 26, 2026
Line 1:		Line 1:
−	'''Debt''' refers to an unpaid promise of [[payment]].	+	'''Debt''' refers to an unpaid promise of payment.

	==Biblical References==		==Biblical References==

@@ Line 11: / Line 11: @@
 ==Personal debt==
-It is virtually impossible to go through life without incurring some personal debt.  Such debt is commonly generated through taking out loans, often for a house or a car. Credit cards are another source of debt. Where a debt cannot be paid in a specified time, interest is often added to the amount originally owed (the principal). Until the [[Great Depression]], home loan practices were more consistent with the laws of Deuteronomy, in that the maximum term of a home loan was limited to 5-10 years.<ref>[http://www.livestrong.com/article/78589-history-year-mortgages/ The History of 30 Year Mortgages]</ref> By the late 1930s however, changes to Federal legislation allowed for 30-year loans. This had the effect of increasing home ownership levels, but also increasing the amount of personal debt to a high degree.
+It is virtually impossible to go through life without incurring some personal debt.  Such debt is commonly generated through taking out loans, often for a house or a car. Credit cards are another source of debt. Where a debt cannot be paid in a specified time, interest is often added to the amount originally owed (the principal). Until the [[Great Depression]], home loan practices were more consistent with the laws of Deuteronomy, in that the maximum term of a home loan was limited to 5–10 years.<ref>[http://www.livestrong.com/article/78589-history-year-mortgages/ The History of 30 Year Mortgages]</ref> By the late 1930s however, changes to Federal legislation allowed for 30-year loans. This had the effect of increasing home ownership levels, but also increasing the amount of personal debt to a high degree.
 ==National debt==

@@ Line 1: / Line 1: @@
-'''Debt''' refers to an unpaid promise of [[payment]]. It is important to understand our own personal debt and how it is a cancer in our lives, strategies for debt elimination, how to avoid debt, and know under what circumstances debt is okay. It is also important to understand how entire [[monetary system]] can be debt-based, how a [[nation]]'s [[national debt]] effects us personally and larger systems of support, and alternatives to debt-based nationally [[fiat currencies]].
+'''Debt''' refers to an unpaid promise of [[payment]].
 ==Biblical References==
-The [[Bible]] refers to the matter of personal debt and deals with it in a matter of ways. Beginning with the [[Old Testament]], [[loan]]s and debts formed part of the [[economy]]. Loans could be made for a period of no more than six years (the interval between [[Sabbath]] years), upon which loans to fellow believers were forgiven. Debts to foreigners were excused from this release.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:1-3&version=KJV; Deuteronomy 15:1-3 (KJV)]</ref> This system of [[credit]] was revealed by God as a means to prevent [[poverty]], but was dependent on one's obedience.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:4-5&version=KJV; Deuteronomy 15:4-5]</ref>
+The [[Bible]] refers to the matter of personal debt and deals with it in a matter of ways. Beginning with the [[Old Testament]], loans and debts formed part of the economy. Loans could be made for a period of no more than six years (the interval between Sabbath years), upon which loans to fellow believers were forgiven. Debts to foreigners were excused from this release.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:1-3&version=KJV; Deuteronomy 15:1-3 (KJV)]</ref> This system of credit was revealed by God as a means to prevent poverty, but was dependent on one's obedience.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:4-5&version=KJV; Deuteronomy 15:4-5]</ref>
-In cases (prior to the next Sabbath year) where debts were owed and could not be repaid, it was possible for persons to become [[indentured servant]]s in order to work off their debts,<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:12&version=KJV; Deuteronomy 15:12]</ref> which prevented individuals from falling into [[bankruptcy]]. The book of [[Proverbs]] makes clear that the rich rule over the poor, and the borrower is the servant of the lender.<ref>[http://www.biblegateway.com/passage/?search=Proverbs+22:7&version=KJV; Proverbs 22:7]</ref> Because of this, individuals are also discouraged from pledging collateral for another person's loan.<ref>[http://www.biblegateway.com/passage/?search=Proverbs%2022:26&version=ESV; Proverbs 22:26 (ESV)]</ref>
+In cases (prior to the next Sabbath year) where debts were owed and could not be repaid, it was possible for persons to become indentured servants in order to work off their debts,<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:12&version=KJV; Deuteronomy 15:12]</ref> which prevented individuals from falling into bankruptcy. The book of [[Proverbs]] makes clear that the rich rule over the poor, and the borrower is the servant of the lender.<ref>[http://www.biblegateway.com/passage/?search=Proverbs+22:7&version=KJV; Proverbs 22:7]</ref> Because of this, individuals are also discouraged from pledging collateral for another person's loan.<ref>[http://www.biblegateway.com/passage/?search=Proverbs%2022:26&version=ESV; Proverbs 22:26 (ESV)]</ref>
 The New Testament discusses further the issue of debt, sometimes in a wider sense. In the [[Lord's Prayer]], [[Jesus]] instructed believers to "forgive us our debts, as we forgive us our debtors".<ref>[http://www.biblegateway.com/passage/?search=Matthew%206:12&version=KJV; Matthew 6:12 (KJV)]</ref> The reference is towards forgiving actions of sin, rather than monetary debt.<ref>[http://versebyversecommentary.com/2008/05/03/matthew-612/; Verse-by-Verse Commentary by Dr. Grant C. Richison]</ref>
@@ Line 10: / Line 10: @@
 In the [[Epistle to the Romans]], the acquisition of monetary debt is discouraged altogether, and to be replaced with a debt of love toward one another.<ref>[http://www.biblegateway.com/passage/?search=Romans%2013:8&version=KJV; Romans 13:8 (KJV)]</ref>
-==Personal Debt==
+==Personal debt==
-Personal debt is when a person takes a [[loan]] that is a promise to pay back the amount of the loan plus [[interest]] in the future. Common reasons to obtain debt are [[education|college loans]], car loans, and [[mortgage]]s. It is virtually impossible to go through life without incurring some personal debt.  Such debt is commonly generated through taking out loans, often for a house or a car. [[Credit card]]s are another source of debt. Where a debt cannot be paid in a specified time, [[interest]] is often added to the amount originally owed (the principal).
+It is virtually impossible to go through life without incurring some personal debt.  Such debt is commonly generated through taking out loans, often for a house or a car. Credit cards are another source of debt. Where a debt cannot be paid in a specified time, interest is often added to the amount originally owed (the principal). Until the [[Great Depression]], home loan practices were more consistent with the laws of Deuteronomy, in that the maximum term of a home loan was limited to 5-10 years.<ref>[http://www.livestrong.com/article/78589-history-year-mortgages/ The History of 30 Year Mortgages]</ref> By the late 1930s however, changes to Federal legislation allowed for 30-year loans. This had the effect of increasing home ownership levels, but also increasing the amount of personal debt to a high degree.
 The United States has the largest national debt in the world.<ref>[http://www.visualeconomics.com/gdp-vs-national-debt-by-country/ GDP vs National Debt by Country]</ref> Regardless of this, [[Barack Obama]] borrowed more in the month of February 2011 ($223 billion) than [[George W. Bush]] did during the entire 2007 budgetary year ($163 billion).<ref>[http://www.realclearpolitics.com/articles/2011/04/14/asleep_in_dreamland_usa_109552.html ''RealClearPolitics: Obama's Dreamland'']</ref>
 ==External links==
@@ Line 25: / Line 25: @@
 *[http://www.usdebtclock.org/ U.S. National Debt Clock : Real Time]
 [[Category:Economics]]

@@ Line 19: / Line 19: @@
 The United States has the largest national debt in the world.<ref>[http://www.visualeconomics.com/gdp-vs-national-debt-by-country/ GDP vs National Debt by Country]</ref> Regardless of this, [[Barack Obama]] borrowed more in the month of February 2011 ($223 billion) than [[George W. Bush]] did during the entire 2007 budgetary year ($163 billion).<ref>[http://www.realclearpolitics.com/articles/2011/04/14/asleep_in_dreamland_usa_109552.html ''RealClearPolitics: Obama's Dreamland'']</ref>
 ==External links==
@@ Line 27: / Line 25: @@
 *[http://www.usdebtclock.org/ U.S. National Debt Clock : Real Time]
 [[Category:Economics]]

@@ Line 1: / Line 1: @@
-'''Debt''' refers to an unpaid promise of [[payment]].
+'''Debt''' refers to an unpaid promise of [[payment]]. It is important to understand our own personal debt and how it is a cancer in our lives, strategies for debt elimination, how to avoid debt, and know under what circumstances debt is okay. It is also important to understand how entire [[monetary system]] can be debt-based, how a [[nation]]'s [[national debt]] effects us personally and larger systems of support, and alternatives to debt-based nationally [[fiat currencies]].
 ==Biblical References==
-The [[Bible]] refers to the matter of personal debt and deals with it in a matter of ways. Beginning with the [[Old Testament]], loans and debts formed part of the economy. Loans could be made for a period of no more than six years (the interval between Sabbath years), upon which loans to fellow believers were forgiven. Debts to foreigners were excused from this release.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:1-3&version=KJV; Deuteronomy 15:1-3 (KJV)]</ref> This system of credit was revealed by God as a means to prevent poverty, but was dependent on one's obedience.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:4-5&version=KJV; Deuteronomy 15:4-5]</ref>
+The [[Bible]] refers to the matter of personal debt and deals with it in a matter of ways. Beginning with the [[Old Testament]], [[loan]]s and debts formed part of the [[economy]]. Loans could be made for a period of no more than six years (the interval between [[Sabbath]] years), upon which loans to fellow believers were forgiven. Debts to foreigners were excused from this release.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:1-3&version=KJV; Deuteronomy 15:1-3 (KJV)]</ref> This system of [[credit]] was revealed by God as a means to prevent [[poverty]], but was dependent on one's obedience.<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:4-5&version=KJV; Deuteronomy 15:4-5]</ref>
-In cases (prior to the next Sabbath year) where debts were owed and could not be repaid, it was possible for persons to become indentured servants in order to work off their debts,<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:12&version=KJV; Deuteronomy 15:12]</ref> which prevented individuals from falling into bankruptcy. The book of [[Proverbs]] makes clear that the rich rule over the poor, and the borrower is the servant of the lender.<ref>[http://www.biblegateway.com/passage/?search=Proverbs+22:7&version=KJV; Proverbs 22:7]</ref> Because of this, individuals are also discouraged from pledging collateral for another person's loan.<ref>[http://www.biblegateway.com/passage/?search=Proverbs%2022:26&version=ESV; Proverbs 22:26 (ESV)]</ref>
+In cases (prior to the next Sabbath year) where debts were owed and could not be repaid, it was possible for persons to become [[indentured servant]]s in order to work off their debts,<ref>[http://www.biblegateway.com/passage/?search=Deut%2015:12&version=KJV; Deuteronomy 15:12]</ref> which prevented individuals from falling into [[bankruptcy]]. The book of [[Proverbs]] makes clear that the rich rule over the poor, and the borrower is the servant of the lender.<ref>[http://www.biblegateway.com/passage/?search=Proverbs+22:7&version=KJV; Proverbs 22:7]</ref> Because of this, individuals are also discouraged from pledging collateral for another person's loan.<ref>[http://www.biblegateway.com/passage/?search=Proverbs%2022:26&version=ESV; Proverbs 22:26 (ESV)]</ref>
 The New Testament discusses further the issue of debt, sometimes in a wider sense. In the [[Lord's Prayer]], [[Jesus]] instructed believers to "forgive us our debts, as we forgive us our debtors".<ref>[http://www.biblegateway.com/passage/?search=Matthew%206:12&version=KJV; Matthew 6:12 (KJV)]</ref> The reference is towards forgiving actions of sin, rather than monetary debt.<ref>[http://versebyversecommentary.com/2008/05/03/matthew-612/; Verse-by-Verse Commentary by Dr. Grant C. Richison]</ref>
@@ Line 10: / Line 10: @@
 In the [[Epistle to the Romans]], the acquisition of monetary debt is discouraged altogether, and to be replaced with a debt of love toward one another.<ref>[http://www.biblegateway.com/passage/?search=Romans%2013:8&version=KJV; Romans 13:8 (KJV)]</ref>
-==Personal debt==
+==Personal Debt==
-It is virtually impossible to go through life without incurring some personal debt.  Such debt is commonly generated through taking out loans, often for a house or a car. Credit cards are another source of debt. Where a debt cannot be paid in a specified time, interest is often added to the amount originally owed (the principal). Until the [[Great Depression]], home loan practices were more consistent with the laws of Deuteronomy, in that the maximum term of a home loan was limited to 5-10 years.<ref>[http://www.livestrong.com/article/78589-history-year-mortgages/ The History of 30 Year Mortgages]</ref> By the late 1930s however, changes to Federal legislation allowed for 30-year loans. This had the effect of increasing home ownership levels, but also increasing the amount of personal debt to a high degree.
+Personal debt is when a person takes a [[loan]] that is a promise to pay back the amount of the loan plus [[interest]] in the future. Common reasons to obtain debt are [[education|college loans]], car loans, and [[mortgage]]s. It is virtually impossible to go through life without incurring some personal debt.  Such debt is commonly generated through taking out loans, often for a house or a car. [[Credit card]]s are another source of debt. Where a debt cannot be paid in a specified time, [[interest]] is often added to the amount originally owed (the principal).
 ==National debt==
 The United States has the largest national debt in the world.<ref>[http://www.visualeconomics.com/gdp-vs-national-debt-by-country/ GDP vs National Debt by Country]</ref> Regardless of this, [[Barack Obama]] borrowed more in the month of February 2011 ($223 billion) than [[George W. Bush]] did during the entire 2007 budgetary year ($163 billion).<ref>[http://www.realclearpolitics.com/articles/2011/04/14/asleep_in_dreamland_usa_109552.html ''RealClearPolitics: Obama's Dreamland'']</ref>

@@ Line 15: / Line 15: @@
 ==National debt==
-The United States has the largest national debt in the world, 10 times the size of Canada's.<ref>[http://www.visualeconomics.com/gdp-vs-national-debt-by-country/ GDP vs National Debt by Country]</ref> Regardless of this, [[Barack Obama]] borrowed more in the month of February 2011 ($223 billion) than [[George W. Bush]] did during the entire 2007 budgetary year ($163 billion).<ref>[http://www.realclearpolitics.com/articles/2011/04/14/asleep_in_dreamland_usa_109552.html ''RealClearPolitics: Obama's Dreamland'']</ref>
+The United States has the largest national debt in the world.<ref>[http://www.visualeconomics.com/gdp-vs-national-debt-by-country/ GDP vs National Debt by Country]</ref> Regardless of this, [[Barack Obama]] borrowed more in the month of February 2011 ($223 billion) than [[George W. Bush]] did during the entire 2007 budgetary year ($163 billion).<ref>[http://www.realclearpolitics.com/articles/2011/04/14/asleep_in_dreamland_usa_109552.html ''RealClearPolitics: Obama's Dreamland'']</ref>
 ==References==

← Older revision		Revision as of 20:12, March 25, 2008
Line 1:		Line 1:
	'''Debt''' refers to an unpaid promise of [[payment]]. It is virtually impossible to go through life without incurring some debt. The trick is to try to minimize it.		'''Debt''' refers to an unpaid promise of [[payment]]. It is virtually impossible to go through life without incurring some debt. The trick is to try to minimize it.
		+
		+	Under the [[Old Testament]], debts were to be released every seven years, except that debts to foreigners were excused from the release.<ref>[http://www.biblegateway.com/passage/?search=deuteronomy%2015:1-5;&version=9; Deuteronomy 15:1-5 (KJV)]</ref>
		+
		+	==References==
		+	<references/>

	[[Category:Economics]]		[[Category:Economics]]

← Older revision		Revision as of 18:43, March 25, 2008
Line 1:		Line 1:
−	'''Debt''' refers to an unpaid promise of [[payment]]. It is virtually impossible to go through life without incurring some debt. The trick is to try to minimize it~~. The Jews are very good at paying back their debts. They are also good at killing Christ~~.	+	'''Debt''' refers to an unpaid promise of [[payment]]. It is virtually impossible to go through life without incurring some debt. The trick is to try to minimize it.

	[[Category:Economics]]		[[Category:Economics]]

← Older revision		Revision as of 18:40, March 25, 2008
Line 1:		Line 1:
−	'''Debt''' refers to an unpaid promise of [[payment]]. It is virtually impossible to go through life without incurring some debt. The trick is to try to minimize it.	+	'''Debt''' refers to an unpaid promise of [[payment]]. It is virtually impossible to go through life without incurring some debt. The trick is to try to minimize it. The Jews are very good at paying back their debts. They are also good at killing Christ.

	[[Category:Economics]]		[[Category:Economics]]