Much scarier than horror films or slasher movies is “I.O.U.S.A.,” a documentary about the size and impact of the national debt of the United States of America. The show is hosted by Robert Bixby (Concord Coalition) and David Walker (U. S. Comptroller General, 1998-2008) as they were on a Fiscal Wake-up Tour around the country, warning of the dangers of having such a high debt.
At the time, in 2008, the national debt was $9.6 trillion, with further debt of $53 trillion in unfunded obligations, mostly to Social Security and Medicare. They talked about the problems of public debt like this create, like a drain on prosperity, danger to funding of vital programs, trade, national security, and more. The lack of leadership in both parties and in both the White House and Congress are to blame. (Since voters elected all of these officials, maybe U. S. citizens are ultimately responsible.)
This was demonstrated when Paul O’Neil, the Secretary of the Treasury from 2001-2002, expressed his concern about the deficit to Vice President Dick Cheney. “Deficits don’t matter,” was the VP’s response. As of this writing in 2023, the national debt stands at $33 trillion, and the unfunded obligations are $80 trillion. Time will tell if these debts will matter.
“I.O.U.S.A.” was directed and written by Patrick Creadon (“Wordplay” 2006), produced by Christine O’Malley, and distributed by Roadside Attractions.
I.O.U.S.A. (2008)
cinema
My Review
Much scarier than horror films or slasher movies is “I.O.U.S.A.,” a documentary about the size and impact of the national debt of the United States of America. The show is hosted by Robert Bixby (Concord Coalition) and David Walker (U. S. Comptroller General, 1998-2008) as they were on a Fiscal Wake-up Tour around the country, warning of the dangers of having such a high debt.
At the time, in 2008, the national debt was $9.6 trillion, with further debt of $53 trillion in unfunded obligations, mostly to Social Security and Medicare. They talked about the problems of public debt like this create, like a drain on prosperity, danger to funding of vital programs, trade, national security, and more. The lack of leadership in both parties and in both the White House and Congress are to blame. (Since voters elected all of these officials, maybe U. S. citizens are ultimately responsible.)
This was demonstrated when Paul O’Neil, the Secretary of the Treasury from 2001-2002, expressed his concern about the deficit to Vice President Dick Cheney. “Deficits don’t matter,” was the VP’s response. As of this writing in 2023, the national debt stands at $33 trillion, and the unfunded obligations are $80 trillion. Time will tell if these debts will matter.
“I.O.U.S.A.” was directed and written by Patrick Creadon (“Wordplay” 2006), produced by Christine O’Malley, and distributed by Roadside Attractions.