So if a Protestant accepts the Bible as the inspired Word of God he must also accept Sacred Tradition and the authority of the Magesterium, correct?
Yes, you are correct, but I do want to point out a couple of the Protestant positions that are rather common.
The first, and in my opinion more respectable one, is that the Holy Spirit worked to make sure that the Scriptures were correctly compiled. There are still some problems with this, such as:
- The original compilation contained many books that Protestants rejected.
- The Holy Spirit clearly worked through Sacred Tradition and the Church to bring about the canon, leading to the question of why He doesn’t continue to do so.
- Clearly the Holy Spirit worked infallibly through a means other than Scripture, which would appear to invalidate Sola Scriptura.
Now the first one can sort of be gotten around via the Jewish canon, but that wasn’t compiled until after Christ, and Protestants have traditionally held a view of Israel and Church closer to Catholicism, that God’s people went from being Israel to the Church, which would seem to invalidate that point. Granted, Dispensationalism has made things more difficult, but that’s a whole other discussion itself.
Anyways, the second position is that the Bible, that is the canon, is not infallible but is merely a fallible collection of infallible books, meaning that it is entirely possible, from this understanding, that infallible books were left out or fallible books included. Now, this does give a reason why one can just discard the Deuterocanon at will, and it gets around an infallible working through means other than Scripture. It also doesn’t mean that the canon is wrong, just not infallible. But it obviously has the incredibly serious flaw that Protestants are basing their beliefs off allegedly infallible books that they only think are infallible because of a fallible source that may have incorrectly labelled them infallible. So if 2 Timothy were actually fallible, then we may not even have this debate, but Protestants only claim it is infallible because a fallible source said it is infallible. Basically, this is a prime example of building one’s house on sand.