Although I.O.U.S.A. was not graced with the honor of an Oscar nomination this morning, the movie's power and message is undeniable. The filmmakers did a great service to the issue of fiscal responsibility and the country's dialogue about generational stewardship. 

This was eloquently brought home to me in a letter I recently received from one of my Midwestern volunteers. Strong in her Christian faith, she was instrumental in bringing a screening of the documentary "I.O.U.S.A." to her church in order to encourage others to see the parallels between Christian values and the stewardship practices needed now to ensure a good quality of life for future generations.

She starts out with a quote from Martin Luther King:

"The ultimate measure of a man is not where he stands in moments of comfort and convenience, but where he stands at times of challenge and controversy."

And continues:

"A diverse group of people at our church gathered expectantly one Sunday afternoon. We shared a potluck meal together and then shared the challenging film, I.O.U.S.A.. I thought I knew what to expect, but there was so much I was unaware of about our economy and how we got to where we are now. I was stunned...

In the movie I.O.U.S.A., Warren Buffett affectionately labeled China “Thriftsville” in his parable about the dangers of the United States over-consuming and relying on foreign production and lending. The movie also introduced us to a young Chinese couple, who met each other while working in a light bulb factory. This couple boasts that "saving money is a Chinese tradition," and they save half of the $20-a-day they earn.

The problem is, in an economic downturn, increased saving can harm short-term economic activity. So, from the front page of the print edition of today’s Washington Post, we learn that China is apparently now pursuing more than half a trillion dollars in fiscal stimulus (emphasis added):

China on Sunday night announced an aggressive $586 billion economic stimulus package, the largest in the country’s history, at a time when it is struggling with increasing social unrest due to factory closings and rising unemployment.

In a wide-ranging plan that economists are comparing to the New Deal, the government said it would ease credit restrictions, expand social welfare services and launch an...