There is a well-known Aesop Fable entitled “ The Ant and the Grasshopper .”
The Ant works all summer preparing for winter while the Grasshopper squanders its time in non-productive pursuits. When winter comes the hungry Grasshopper comes to the Ant begging for food but is refused. The moral to the story is that provident behavior consisting of hard work and planning for the future is rewarded while failure to do this will have dire consequences.
Today, instead of Aesop Fables, we have Government Fables. One of these Government Fables, College Debt Forgiveness, closely parallels the Ant and the Grasshopper but with a perverted moral. Here, the Grasshopper’s irresponsible prodigal behavior with college loans is rewarded while the Ant’s responsible behavior (avoiding or paying off loans) is not. In addition, the Ant is shown to be a “foolish naïve chump” for doing the right thing.
Loans are a mainstay of both business […]
Read the rest of this story here: fee.org
