Progressive dispensationalism

The greatest debate between those who hold to traditional dispensationalism and those who hold to progressive dispensationalism concerns the issue of David’s throne. In the Davidic Covenant, God promised David that he would never permanently cease to have a descendant sitting on the throne. Although there have been times prior to Christ’s coming—and presently there is no one sitting on David’s throne as king over the kingdom—this promise to David will be ultimately fulfilled by God when Jesus Christ returns to set up and rule the kingdom on earth (Revelation 19:11 - 20:6).
The debate is this: progressive dispensationalism says that Christ is right now at this present time sitting on David’s throne and ruling. Progressive dispensationalists do not deny a literal 1,000-year kingdom that Christ will rule over. But they say that He is already sitting and ruling on David’s throne. This is known as "already but not yet." Jesus is already on David’s throne but has not yet completely fulfilled the promise of God to David for a descendant to sit on his throne. Central Bible texts for this issue are Psalm 132:11; Psalm 110:1-4; Acts 2:30; and Acts 3:19-22. Traditional dispensationalists hold that, although Christ is sitting at the right hand of the Father and is obviously ruling, this does not mean that He is sitting on the throne of David. They say that progressive dispensationalism assumes too much. Jesus can sit on a throne and rule now and not be sitting on the throne of David.