LiL:
However, I must strongly disagree with you that the Bible is inspired because the RC church first declared it was. The Bible is inspired becasue God's word first declared it as such.
When Paul wrote to Timothy it is likely that none of the Gospels had been written down at that point. He was evidently refering to the Old Testament, and in particular the Torah and some of the Prophets. The RC church is the body that declared the whole corpus to be "inspired", after gathering the books and letters together for preservation. The Protestant Churches have just maintained that position, with a few minor alterations.