America Slouching Towards Fiscal Armageddon

America Slouching Towards Fiscal Armageddon by Chris Banescu
America is in grave danger. Our government’s out-of-control spending and our politicians’ refusal to implement meaningful budget reforms are leading us towards a fiscal crisis that can undermine our very way of life. We are spending ourselves into oblivion. With each passing day, we are $5 billion in deficit spending closer to the edge of an abyss that can cripple our economy, destroy America’s wealth, and lead to catastrophic social consequences for all current and future generations. Yet our leaders in Washington refuse to face reality and continue to play political games while the country’s budget crisis deepens and the threat grows exponentially.

In February of this year the US federal budget deficit grew by a record $224 billion; the biggest one-month increase in history. Worse still, the 2011 US budget deficit is forecast to reach $1.5 Trillion. According to the non-partisan Congressional Budget Office (CBO) this annual deficit represents the largest budget gap in our country’s history, equivalent to approximately 10% of America’s total economic output. This follows the enormous $1.3 Trillion deficit racked up for 2010 and will be superseded by an equally disturbing $1.65 Trillion deficit forecast for 2012. [Read more…]

St. John Chrysostom vs. Communism

St. John Chrysostom vs. Communism by Chris Banescu –
The quote below has been attributed to St. John Chrysostom. These warnings regarding the envy and injustice that underscore socialist and communist ideologies should have been heeded by the Church and taught to the people.

St. John Chrysostom: “Should we look to kings and princes to put right the inequalities between rich and poor? Should we require soldiers to come and seize the rich person’s gold and distribute it among his destitute neighbors? Should we beg the emperor to impose a tax on the rich so great that it reduces them to the level of the poor and then to share the proceeds of that tax among everyone? Equality imposed by force would achieve nothing, and do much harm. Those who combined both cruel hearts and sharp minds would soon find ways of making themselves rich again.

Worse still, the rich whose gold was taken away would feel bitter and resentful; while the poor who received the gold from the hands of soldiers would feel no gratitude, because no generosity would have prompted the gift. Far from bringing moral benefit to society, it would actually do moral harm. Material justice cannot be accomplished by compulsion, a change of heart will not follow. The only way to achieve true justice is to change people’s hearts first—and then they will joyfully share their wealth.” – St. John Chrysostom on the poor from On Living Simply XLIII [Read more…]

How to Cripple the Free Economy

by Chris Banescu

The socialist policies implemented by the Obama administration and the Democrat leadership undermine America’s economic prosperity and prolong the misery for millions of companies and workers. Despite passing multi-trillion dollar government tax and spend initiatives, numerous bailouts of failed businesses, and repeated extensions of government benefits, Americans are suffering and the economy is languishing. Nationwide the unemployment rate has risen to 9.9%, while mortgage defaults and foreclosure rates have surged to record numbers.

Even with the tens of billions of dollars Congress has spent on preventing consumer mortgage defaults and home foreclosures, things have not improved much. How could they? Such government bailout measures are temporary band-aids that fail to address the structural problems our economy faces. They only delay the inevitable and push the problem further down the road. It doesn’t matter that house payments are now lower and the government has picked up the tab for a few months. If Americans cannot find a job or raise the capital to start a business they won’t have the money to pay even reduced mortgage payments. [Read more…]

Civil Unions, Stepping Stones That Undermine Marriage

Civil Unions, Stepping Stones That Undermine Marriageby Chris Banescu
Some Orthodox leaders and scholars have argued that same-sex civil unions, while not recognized and blessed by the Orthodox Church, should nevertheless be accepted and protected by the state in the spirit of democracy.

In a 2005 interview regarding debates about gay couples being able to marry, Metropolitan Gerasimos of the Greek Orthodox Church in America, expressed his views on this matter: “They [homosexuals] should have the benefits and civil rights of the state, but this is not a sacramental union our church will ever sanctify,” he said. “But civil marriage, in the spirit of American democracy, they have the right to ask for that.”

These positions seem to present a fair and reasonable perspective that maintains a balance between the Orthodox Church’s unwavering support for traditional marriage and her absolute rejection of all homosexual unions, and the secular and democratic society we live in. On closer inspection however, the reality of such moderated and accommodating views exposes a danger that may not have been considered when such support was given for these legalized civil unions. [Read more…]

The Medium is Not the Message

Medium Not Message Internet Blogosphereby Chris Banescu
As a fellow Orthodox Christian and an attorney I find Fr. George’s reflection quite eloquent but unfortunately lacking in the depth and moral clarity that our faith and profession both require. Fr. George’s central thesis is that “the nature of the medium, in this case the internet and blogosphere, is itself the message we get here even more than the content that people purport to communicate and consider.” I don’t believe that’s true, especially with regards to OCANews.org. The medium is only a neutral tool to be used or misused as we see fit. The truth of the message and the reliability of the information this medium conveys and the good it has done, in addition to the wisdom, character, and integrity of the messengers, are much more important and relevant.

Fr. George begins his criticism of the web by saying that it is “democratic in the extreme, and fools who know little or nothing about what they are discussing or how to discuss things effectively with others get basically equal time and treatment with wise men and experts.” That is true, the web is indeed “democratic in the extreme” and exposes both the wisdom of some and the foolishness of others. Thanks be to God for that, for otherwise how could we have distinguished between those who stood for truth and righteousness and those who lied, obfuscated, and muddled the issues. Seeing all the arguments and reading all those comments provided a more accurate and complete picture of the truth and the various problems the Church faced and still faces. The reality presented on the OCANews site was indeed clearer and more comprehensive than a few sanitized magazine or newspaper stories from the “official” church channels or any brief television segments. It is only the Internet medium that could have facilitated such an important feat. [Read more…]

Warning Signs of Power Corruption in Organizations

Power Corrupts Lord Actonby Chris Banescu

Power tends to corrupt, and absolute power corrupts absolutely. Great men are almost always bad men, even when they exercise influence and not authority: still more when you superadd the tendency or certainty of corruption by full authority. There is no worse heresy than the fact that the office sanctifies the holder of it. – Lord Acton

Lord Acton’s dictum, made in 1887, clearly warns us that the practice of wielding power and influence can corrode the character of leaders. History is replete with examples of individuals who wielded unchecked power and eroded not only their own integrity, but also the ethical and moral foundations of the organizations they led and brought them to catastrophe and ruin. This danger is true of all organizations including businesses, religious institutions, and governments.

Here is the risk inherent in leadership: The greater the leader’s power, wealth, authority, and influence, the more likely the leader could succumb to ethical lapses and moral failings. The risk increases if the organization has a culture that lacks financial or managerial transparency and accountability, has insufficient checks and balances on executive power, and discourages criticism from subordinates or members. When a leader with a poorly developed ethical or moral sense ends up leading an organization with a culture that prevents ethical self-examination, a slow but perfect storm starts to form that demands compromise from all levels of leadership and eventually leads to catastrophic consequences. [Read more…]

Orthodox Christianity And Capitalism: Are They Compatible?


AFR – The Illumined Heart | Kevin Allen | Apr 17, 2009

In this interview with Kevin Allen, host of The Illumined Heart podcast on Ancient Faith Radio, Chris Banescu discusses the economic, moral and spiritual issues surrounding the “capitalist” economic model and whether it serves the best interests of Christians living the life of the Beatitudes.

Orthodox Christianity And Capitalism: Are They Compatible? – 4/17/09 [audio:http://audio.ancientfaith.com/illuminedheart/ih_2009-04-17_pc.mp3|titles=Orthodox Christianity And Capitalism Are They Compatible?|artists=Chris Banescu]

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