I.O.U.S.A. - An excellent documentary about our National debt! - Must watch!

[KathyT]

Maybe you may have heard about the acclaimed documentary by I.O.U.S.A., a film that boldly examines the rapidly growing national debt and its consequences for the United States and its citizens.

A newly released documentary… a picture of our National Debt… what it really is!
http://www.youtube.com/watch?v=O_TjBNjc9Bo

Well worth watching… a larger picture of how we got to where we are at!

[Adarajones]

Excellent!!!

Thank you!!

[Zarathustra]

Unfortunately, while the video is factually correct, it manages to paint a rosy picture of the near future.

[ralok_j]

Interesting that Paul O'Neal was told by the VP that they did not gave to worry about deficits. Did they not have to worry because it would be passed on to another administration or not to worry because of other reasons such as 2012?

One point that was missed in this video is the Bretton Woods agreement. As long as the dollar is the world currency there will be buyers of our debt.

[KathyT]

Originally Posted by Zarathustra

Unfortunately, while the video is factually correct, it manages to paint a rosy picture of the near future.

It was quite clear to me that a rosy picture is NOT the future.

The question is, why have 100 senators and 435 congressmen allowed this to happen for the past decade? Are they that stupid?

[peaceandlove]

Blessings to you KathyT,

Thank you very much for posting the link to this compact version of the movie.

I heard about I.O.U.S.A. The Movie and have seen the trailers and was looking forward to viewing it and sharing it with others.

I just checked my state listing on http://www.iousathemovie.com to see when the full length movie would be available near me to view. The short version is available there also.

[Zarathustra]

Originally Posted by KathyT

It was quite clear to me that a rosy picture is NOT the future.

The question is, why have 100 senators and 435 congressmen allowed this to happen for the past decade? Are they that stupid?

My use of the word "rosy" was an attempt at the greatest sarcasm the human race has ever been privy to

[peaceandlove]

Interesting article from Mises Institute

I.O.U.S.A. Misses Point
Daily Article by Doug French | Posted on 11/14/2008

Complete Article Here: http://www.mises.org/story/3213

Excerpt:

I had high hopes for the documentary film I.O.U.S.A., because it was conceived of, cowritten and executive produced by Agora Financial's Addison Wiggin, coauthor with Bill Bonner of the excellent book Empire of Debt. When the movie finally started, the opening credits even indicated that the documentary was based on the book. I wish.

Bonner and Wiggin wrote that the purpose of Empire was "to show that the United States is headed for trouble." And, "their burden is only to show that the people making important policy decisions are morons and frauds." I.O.U.S.A. shows that the United States is in trouble, all right, but instead of politicians and central bankers being outed as crooks and mountebanks, the likes of Bill Clinton and Paul Volker are treated as heroes. Ex-Fed Chair Alan Greenspan is made to look like an idiot by Ron Paul in one clip and by comedian Jon Stewart in another, yet the filmmakers continually go back for sound bites from him and ex-Fed governor Alice Rivlin as authority figures. The film even claimed that one Federal Reserve mandate is to keep inflation low. Good grief, the Fed creates inflation.