There are two reasons in our day for holding to a strong uncompromising view of Scripture.
First and foremost, this is the only way to be faithful to what the Bible teaches about itself, to what Christ teaches about Scripture, and to what the church has consistently held through the ages.
This should be reason enough in itself. But today there is a second reason why we should hold to a strong, uncompromising view of Scripture. There are hard days ahead of us — for ourselves and for our spiritual and physical children. And without a strong view of Scripture as a foundation, we will not be ready for the hard days to come.
Unless the Bible is without error, not only when it speaks of salvation matters, but also when it speaks of history and the cosmos, we have no foundation for answering questions concerning the existence of the universe and its form and the uniqueness of man. Nor do we have any moral absolutes, or certainty of salvation, and the next generation of Christians will have nothing on which to stand. Our spiritual and physical children will be left with the ground cut out from under them, with no foundation upon which to build their faith or their lives.
Excerpt from The Great Evangelical Disaster by Francis Schaeffer (1984)
Not that I consider myself by any means fit to add to or comment on the words of Francis Schaeffer, but to the two reasons he lists, I would also add a third:
The Bible is the only historically reliable source of the life and teachings of Jesus Christ who was and is The Word of Life.
That which was from the beginning, which we have heard, which we have seen with our eyes, which we looked upon and have touched with our hands, concerning the word of life– the life was made manifest, and we have seen it, and testify to it and proclaim to you the eternal life, which was with the Father and was made manifest to us– that which we have seen and heard we proclaim also to you, so that you too may have fellowship with us; and indeed our fellowship is with the Father and with his Son Jesus Christ. (1 John 1:1-3)