For Whom Did Christ Die?

Christ Carrying the Cross (1737-38) by Giovanni Battista Tiepolo

Just finished a Sunday school class on the Essentials of Reformed Theology or "What We Believe". This was a good course that sparked much discussion. As we went through the Five Points of Calvinism (TULIP: Total Depravity, Unconditional Election, Limited Atonement, Irresistible Grace, and Perseverance of the Saints), several students had problems with the third point, limited atonement.

John Own, one of my favorite theologians of all time, summed up the issue rather nicely:

For Whom Did Christ Die?

The Father imposed His wrath due unto, and the Son underwent punishment for, either:

1. All the sins of all men.
2. All the sins of some men. Or,
3. Some of the sins of all men.

In which case it may be said:

1. That if the last be true, all men have some sins to answer for, and so, none are saved. 2. That if the second be true, then Christ, in their stead suffered for all the sins of all the elect [His people] in the whole world, and this is the truth. 3. But if the first be the case, why are not all men free from the punishment due unto their sins?
You answer, "Because of unbelief."

I ask, is this unbelief a sin, or is it not? If it be, then Christ suffered the punishment due unto it, or He did not. If He did, why must that hinder them more than their other sins for which He died? If He did not, He did not die for all their sins!

The author of Psalm 111 writes in verse 9: 'He has sent redemption to His people; He has commanded His covenant forever: Holy and awesome is His name.'