What does it mean that all of God's righteousness has been imputed to believers?
God credits His own righteousness to believers' account, so their sin ledger is wiped clean and the whole bankroll of heaven is placed to their account. They are forgiven the moment they sin, and God will never accuse them of still having sin on their ledger. This is grace, not license.
Les explains that imputation is the opposite of having sin on our ledger. The believer's sin record has been wiped clean, and the whole bankroll of heaven—God's righteousness—has been put to our account. Because we are forgiven the moment we sin, God will never come back and accuse us of still having sin. Les acknowledges people call this licensed, but he insists it is not; it is simply the grace of God. He also points out that this is what it says concerning Abraham, and that Paul can relate Old Testament salvation to this same truth, though it was not as clearly delineated as it is now in Paul's teaching. For us, the whole thing is laid open and explained so we can understand it.