He has not dealt with us according to our sins,
Nor punished us according to our iniquities.
We realize that He has not dealt with us according to our iniquities for if He did, we would simply be dead. His perfect justice could allow nothing less. Fortunately, He is patient with us and gracious to us for His own sake. He views us through the cross so that He might be forgiving and kind while not violating His perfect justice.
His perfect love met His perfect justice in the sacrifice of Lord Jesus on the cross. We are saved by His grace through faith in the atoning sacrifice of God Himself, the Lord Jesus Christ. It is such good news.