Guest / Limited Access /

The government has rushed to aid several corporations in recent months, hoping to contain an economic crisis. President Bush urged Congress to pass a proposed $700 billion plan for the government to purchase troubled mortgage assets. Dave Ramsey tells Christianity Today why he is against the bailout and how Christians can prepare during an economic crisis. Ramsey's show is carried on 350 radio stations nationwide, and he is the author of several personal finance books.

What do you think of the bailout?

I think it's a disaster. It's the largest government department ever formed in the history of man, and they are doing it in five days, and they are doing it based on a spirit of fear.

There are other things we could be doing to calm markets. All of the Bush administration appears to be in a dead dog panic. I'm afraid it's going to pass, but that doesn't mean we're going to like it.

What do you recommend instead?

Change the market accounting rules. Do away with the capital gains tax, which will cause money to flood into the market instantaneously in 24 hours. Last, if we do need to do some insurance of some of these bonds, we can insure them rather than just buying them all. Only 7 percent of them are in foreclosure, while 93 percent of them are paying, so why are we buying them all—so we can make Paulson king?

Will the economical crisis affect how Christians will vote?

It translates into which person they think will go to Washington and give them the economy that they want. As a believer, I think that's a mistake. I think we're taught that God is to be our source. We've really got to stop looking to Washington to fix our problems. It obviously doesn't have the ability to do that. People who are successful are not successful ...

Subscriber access only You have reached the end of this Article Preview

To continue reading, subscribe now. Subscribers have full digital access.

Read These NextSee Our Latest
RecommendedHow to Help Those in Need (Without Treating Them Like Beggars)
How to Help Those in Need (Without Treating Them Like Beggars)
Robert Lupton shares strategies to lift people out of poverty for the long haul.
TrendingHow 1,000 Women Who Aborted Feel About the Local Church
How 1,000 Women Who Aborted Feel About the Local Church
Survey: Two in three evangelicals were attending monthly or more at the time of their first abortion.
Editor's PickThe Colonists’ New Religious Mystery
The Colonists’ New Religious Mystery
Sorry, Pilgrims: Jamestown’s spiritual life is suddenly much more fascinating.
Christianity Today
Q & A: Dave Ramsey
hide thisAccess The Archives

In the Archives

September 2008

To continue reading, subscribe now for full print and digital access.