PrintDecember 5, 2010
The Chinese Ant and the American Grasshopper
"The Ant and the Grasshopper," a fable by Aesop, provides a moral lesson about hard work and saving. During the warm months, the ant works hard to store up food for the winter, while the grasshopper sings and plays. When winter arrives, the grasshopper asks the ant for food because it has none. In today's world, China is like the ant, and America is like the grasshopper.America tends to focus on enjoying today instead of preparing for tomorrow. This trait has led to a nation of debtors. And, like for the grasshopper, our lack of savings may lead to our demise.The grasshopper's indulgence affected only its own life and not the lives of others. In America, however, that is not the case. America's indulgence will negatively affect future generations in the form of debt.America's federal debt is almost $14 trillion and rapidly rising. Yet the government is still spending more money than it collects in taxes. For the 2010 budget year, it spent approximately $1.3 trillion more...(Read Full Article)
