This is, in fact, bibliolotry - the worship of the book itself rather than the God to which it testifies. The revelation of God was in Jesus Christ. The New Testament is the written record that testifies to that revelation. The Christian Church testifies that the Bible is inspired by God, not composed by God. Each word that appears in the original Greek or Hebrew is given an equivalent in the English language, based on its context.
Words are then, of course, rearranged for English sentence structure.
Formal equivalence is the method employed by such translations as the King James Version . Find more information on formal equivalence here on the web site . Translators seek to better capture the author's intent by translating a thought at a time, or a phrase at a time, rather than finding an English equivalent for every single word present in the Greek or Hebrew. This method is especially helpful in rendering a translation in common, spoken English. The method's main drawback is that it can be much more interpretive, allowing the translator to bias his or her translation with his or her own views.