an economic fable

An old man was walking in an unused field near where many children often played, and found a wide and very deep hole, as deep as he was tall.  He thought this could be dangerous since any child running in the area could accidentally fall into the hole and not be found until it was too late.

The old man asked around, but it seemed whoever owned the land and was responsible for the hole had moved on leaving the hole behind.

So, whenever he had the chance, the old man would bring a wheelbarrow full of dirt and dump the contents in the hole. He did this as often as he could, but it was not the only thing in his life, so it took quite a number of trips.

Another man had seen the old man pass by his house occasionally, but then only the part of the trip when the wheelbarrow as filled with dirt, and told his neighbors about the obviously feeble minded old man who was always pushing a wheelbarrow filled with dirt  down the street.

The man’s neighbors began to watch him as well.

After a few months, he had filled the hole within three inches of the rim, but on what should have been his last trip to finally fill the hole, he felt a pain in his chest and went home to rest where he died that night.

When the man who had made fun of him noticed he had not seen the old man for a few days, out of curiosity, after mentioning this to his neighbors,  he and a few of them walked in the direction the old man had always walked when pushing his dirt filled wheelbarrow to maybe see what he had been doing.

As they walked through the unused field, they came upon the old man’s wheelbarrow lying on its side with its contents spilled out of it and a shovel lying beside it.

While the others looked on, one of them shoveled the remaining dirt into the hole giving it a small additional inch high mound on top.
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Many parents of the children who played in that field praised him because their children could have skinned a knee tripping on the rim of the hole as they ran by it. Having seen the wheelbarrow with the dirt spilling out of it, they couldn’t understand why the old man had begun digging such a dangerous hole, and some got angry at the old man.

In their praise of the man who put the last dirt on the hole, few of those who had seen the old man with the wheelbarrow filled with dirt seemed to recall that he was always walking toward, not away from the hole with it.

Although the old man had filled in the lower 5’7” of the hole, those who looked on had only seen the last 4 inches being put on the top.

When he left office, President Clinton left his successor a hefty surplus which he in turn reversed, leaving his successor with an economy that was the worst depression since the big one in1929.

This president’ successor had to make a major course correction, and, in spite of the expressed plan of his opponents to make him a one term president, and attempting to make that happen through continuous obstruction, he set in motion the improvement of the economy..

What is happening with the economy now isn’t something that began at the bottom or which suddenly happened, but is the continuation of what began before the present president took office, but for which he is more than happy to claim  total responsibility for.

The hole he claims he filled alone is merely topping off the progress he inherited.

 

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