I.O.U.S.A. , Everyone should see this

[Goggen]

trailer: http://www.youtube.com/watch?v=HBo2xQIWHiM&feature=related

http://www.iousathemovie.com/

summary: http://www.youtube.com/watch?v=K0E-fwdyS-w&NR=1





By Roger Ebert

A letter to our grandchildren, Raven, Emil and Taylor: I see you growing up into such beautiful people, and I wish all good things to you as you make the leap into adulthood. But I have just seen a documentary titled "I.O.U.S.A." that snapped into sharp focus why your lives may not be as pleasant as ours have been. Chaz and I had the blessing of growing up in an optimistic, bountiful America. We never fully realized that we were paying for many of our comforts with your money.

Let me explain. There is something called the "national debt." In the movie's interviews with ordinary people, it has a hard time finding anyone who knows exactly what that is. Well, I've never exactly known, either. I thought I knew, but it never came up in conversation, and it became a meaningless abstraction, even though in 2009, the debt will pass $9 trillion. You might think of those as dollars our nation has spent without having them.

What will this mean to you? It will mean you will live in a country no longer able to pay for many of the services and guarantees we take for granted. In 40 years, when you are still less than my age, it looks like the government will only be able to pay for three things: Interest on the national debt, "some" Social Security and "some" Medicare. It will not be able to afford any of the other functions it now performs.

How did we get into this situation? With a federal government that has been throwing bad money after good. Of all the presidents in the last century, the only one who was able to achieve a balanced budget and produce a surplus was Bill Clinton. He did that by bravely raising taxes and cutting spending. Our current president, George W. Bush, is now finishing up eight years of throwing around money like a drunken sailor. His fellow conservatives, like Rush Limbaugh, like to talk about "tax and spend Democrats." But they seem to be "don't tax and spend even more Republicans."

Not that this film takes sides. It is non-partisan and includes many Republicans who agree with its argument that the country is headed for disaster within the lifetimes of many now living. It centers on David M. Walker, until recently the U.S. comptroller general, and Robert Bixby, the head of the nonpartisan Concord Coalition, who have been on a national "Fiscal Wake-Up" tour that will last until the November elections. They are trying to sound the alarm, but they speak to half-empty town halls and captive Rotarians and get pushed off the local news by a story of a man who swallowed a diamond.

I don't really believe this review will inspire enormous numbers of people to go see the film. But if they do, they'll find it accomplishes an amazing thing. It explains the national debt, the foreign trade deficit, the decrease in personal savings, how the prime interest rate works, and the weakness of our leaders. No, not only George W. Bush, but politicians of both parties, who know if they vote against tax cuts, they will be lambasted by their opponents and could lose their jobs. In the film, we see President Bush being asked about the debt and replying: "Ask the economists. I think I only got a B-minus in economics." Then he gives that little chuckle. "But I got an A-plus in cutting taxes."

Yes, he cut taxes while our national spending mushroomed. What we have to do is bite the bullet and pay higher taxes while spending less. The war in Iraq is a much sexier issue. But no matter what happens in Iraq, the real crisis we face is the debt. The movie includes testimony by former Fed chairman Paul Volker, former Treasury Department secretary Paul O'Neill, billionaire Warren Buffett, congressman Ron Paul and others on both sides of the fence who all agree: Don't buy what you can't pay for.

Here's an interesting statistic. I remember when "Made in China" meant cheap and shabby merchandise. No longer. In the ranking of the trade imbalance among all the world's nations, China is first with the highest surplus, and the United States is last with the largest deficit. The Chinese now hold a huge chunk of our debt. If they ever call in the loan, it would destroy our economy. In the presidential debate earlier in the year, Ron Paul was a lonely voice talking about the debt; the others on both sides paid lip service to the problem and moved on.

So here's the bottom line, kids. The United States is probably going to go broke during your lifetimes. Actually, it's already broke, but getting deeper into debt allows it to keep running on thin air, like the Road Runner. My advice? Learn Chinese. Start savings accounts. Don't buy what you can't afford. Any politician who tries to win votes by promising to cut taxes is digging our country's grave.

[Connaught Ranger]

:roll::roll:AND???:roll::roll:

[Rilence]

Informative and engaging.



EDIT: Oh, yeah and FAIL.

[NathS]

I.O.U.S.A F*ck Yeah !

[Goggen]

Fix'd. Sorry, something f*cked up, I apologize for the inconvenience

[Goggen]

everything should be visible now

[Zoomie]

ROFL, all threads with "You gotta see this" "MUST SEE" "UNBELIEVABLE VIDEO!!!" are doomed to fail.

[Goggen]

ROFL, all threads with "You gotta see this" "MUST SEE" "UNBELIEVABLE VIDEO!!!" are doomed to fail.

It is about the current debt crisis, you should at least give it a chance. While this is nothing new I think most people don't realize how serious the situation is.


http://www.iousathemovie.com/images/iousa-poster-large.jpg

[vinny_121_ND]

It is about the current debt crisis, you should at least give it a chance. While this is nothing new I think most people don't realize how serious the situation is.



I thought it was a direct link to the entire film in the first post. Anyhow, I myself don't realize how serious this situation really is until I see first hand the consequences (ie unemployment, cost of commodities etc). I'm not an economist, I'm in the health care sector.

[Goggen]

I thought it was a direct link to the entire film in the first post. Anyhow, I myself don't realize how serious this situation really is until I see first hand the consequences (ie unemployment, cost of commodities etc). I'm not an economist, I'm in the health care sector.


Finally someone who at least consider taking it seriously. Yeah it's a shame it isn't available for free, since this is such an important issue they should try to reach as many people as possible. However you should be able to watch the documentary in it's entirety on www.endlessmovies.net (its not free though, you have to register an account). That's what they advertised at least, but I don't think it's a sham.

In the meantime here's an interview with the director, complete with clips from the movie (it's frightening how ignorant a lot of Americans can be towards their own problems O_o):
http://www.youtube.com/watch?v=XoHh2CslpGo




This guy has done a quite good review about the movie:
http://www.youtube.com/watch?v=Cqwt-6-_yeE&feature=related

[notherhen40]

The film is a day late and a trillion dollars short. And, it will get a lot worse before it gets better. The government, has always had this idea...spend more, do less, and promise nothing. Makes sense? Yes, it does.

The people of the USA like to pay nothing, but expect to have services like welfare, law enforcement, hospitals, roads, schools, and other government services given to them for free. And given, that the average American job is not paying what it should, people do not like to pay taxes, and people living way beyond their means, and most American companies now out source jobs in search of cheap labor, and guess what...the government has to borrow money. Now what does that mean? Well, sometimes if the government does not have the cash at hand per say, they let countries that loaned the country money instead get American services like gas, oil, manufacturing, and real estate. And this is a recipie for disaster, if things get too far out of hand, like they are now.

The average Joe Blo American on the street could not care less. They are too worried about the latest iPod, ****o film, and latest crap from Wall street to care if they even understand the concept of a national debt, let alone personal debt.

[PeterG]

Huge tax cuts for the rich and the corporations, while borrowing money abroad to keep the state going somehow, artificially, until every dime that can be plundered is. Bush is clearly mentally retarded. F*ck the future of 300 million americans, as long as a handful of billionaires and giant corporations get what they want.

And make sure the media keeps everyone occupied with dumbass topics like gay marriages or what hollywood star is in rehab, instead of the issues that determine your future..

[notherhen40]

Huge tax cuts for the rich and the corporations, while borrowing money abroad to keep the state going somehow, artificially, until every dime that can be plundered is. Bush is clearly mentally retarded. F*ck the future of 300 million americans, as long as a handful of billionaires and giant corporations get what they want.

And make sure the media keeps everyone occupied with dumbass topics like gay marriages or what hollywood star is in rehab, instead of the issues that determine your future..


Well said.

[Russian_dude]

I don't think it takes a PHD to know that debt is bad. Basically in time the debt will crush the US. Americans like to brag about having the best army and most high tech airplanes... time will come when the best US battlefield strategy will be throwing human waves of barely trained soldiers because the country is too broke for expensive weapons.

[Breakfast in Vegas]

I don't think it takes a PHD to know that debt is bad. Basically in time the debt will crush the US. Americans like to brag about having the best army and most high tech airplanes... time will come when the best US battlefield strategy will be throwing human waves of barely trained soldiers because the country is too broke for expensive weapons.Stay off drugs.

[Russian_dude]

Where do you think the US will find money for expensive toys? Print it? Oh, wait... they are already at it. Stay off the FOX News.

[Breakfast in Vegas]

will be throwing human waves of barely trained soldiers... I don't foresee the US adopting Soviet tactics anytime soon.

Financial crisis or not, the military will stay funded.

Now get back to your Counterstrike.

[Goggen]

I don't foresee the US adopting Soviet tactics anytime soon.

Financial crisis or not, the military will stay funded.

Now get back to your Counterstrike.


I don't think Russian Dude is so far away from the gruesome reality. If drastic measures aren't taken now or in the immediate future then by 2040 the government will only able to afford "some" health care and "some" social security nothing else (this is the words of your former comptroller David M Walker). There won't be a national defense, no homeland security or foreign aid etc. There will be no patrolling carrier battlegroups, no submarines, the aircraft fleet will consist of decaying and grounded F-22/35:s lined up in storages.

This is the biggest problem the US is currently facing. Not the some religious extremists hiding in caves, not China and not Iran's nuclear program. If you don't pull your **** together, just about every single dollar will go towards paying off your mounting national debt and your standard of living will drop until it don't resemble a first world country anymore.

[RallyPointCebu]

So long America Strong.

"... dont buy what you cant pay for..."

[Breakfast in Vegas]

I don't think Russian Dude is so far away from the gruesome reality. If drastic measures aren't taken now or in the immediate future then by 2040 the government will only able to afford "some" health care and "some" social security nothing else (this is the words of your former comptroller David M Walker). There won't be a national defense, no homeland security or foreign aid etc. There will be no patrolling carrier battlegroups, no submarines, the aircraft fleet will consist of decaying and grounded F-22/35:s lined up in storages.

This is the biggest problem the US is currently facing. Not the some religious extremists hiding in caves, not China and not Iran's nuclear program. If you don't pull your **** together, just about every single dollar will go towards paying off your mounting national debt and your standard of living will drop until it don't resemble a first world country anymore.I don't deny that the problems are extreme and ultimately a lack of funding will cause programs to be dropped, upgrades and maintenance to be neglected and national security and national pride will suffer. The Soviet Union underwent this painful process and Russia still suffers from it. The fact that a couple of TU-160s flying to Venezuela is cause for national celebration is in fact proof of how low the Russian military has sunk. The road back to significance (beyond the nuclear capability which is still the great equalizer) is a long one.

Just the same, the road to insignificance can be short.

Nonetheless I believe that the US will survive the crisis without falling into a depression (which would take much of the world with it) and ultimately the bubble had to burst. I just hope more sound financial talent takes over and this turns out to be a cleansing process.

My issue with RD's post was over the gloating notion that the US military is simply going to fall apart and resort to barbarian human wave tactics and give up the technological and organisational progress made in the last decades of adjusting to a new age and a new type of war. The military is a business as well. It'll find a way to survive and prosper, even if adjustments will have to be made.

As disasterous as this crisis is, let's keep things in perspective.

By the way, I haven't lost a penny.

[brainplay]

Huge tax cuts for the rich and the corporations, while borrowing money abroad to keep the state going somehow, artificially, until every dime that can be plundered is. Bush is clearly mentally retarded. F*ck the future of 300 million americans, as long as a handful of billionaires and giant corporations get what they want.

And make sure the media keeps everyone occupied with dumbass topics like gay marriages or what hollywood star is in rehab, instead of the issues that determine your future..

/facepalm

Huge tax cuts is misleading but then you're talking % and for a middle class person a 1% tax cut is like $50 while a corporation 1% can be as high as $50,000,000. The future of 300 million Americans has been plundered by Americans themselves but need a reliable scapegoat. Since religion can't be used its fallen to the government who has to bail out everything or "big corporations" (who consequently are the ones who hire and pay and insure 300 million Americans).

We've ignored the massive growth we experienced for most of the past 8 years the increase in jobs and living standards to the point that we even needed a minimum wage increase and all while prosecuting an expensive war.

Ah but then we've become a nation of "what can you do for me NOW." not what have you done for this country.

Face it, the media is going to publish their sideline stories because Americans don't want to deal with important issues. They want to be entertained and let someone else take the responsibility and blame for their problems.


Hehe, the Clinton praise should have been a dead giveaway for the type of director that made this movie.

[PeterG]

Hehe, the Clinton praise should have been a dead giveaway for the type of director that made this movie.

Call me crazy - but didn't Clinton leave office with a trade surplus, and in general an economy in much, much better shape then what we see today? Getting BJs by a young intern just makes him more of a real man in my opinion, and should not be held against him. The worst thing about him, was that he should have mercilessly attacked Bin Laden and his people when he had the chance. I saw Clinton on Letterman recently, and was again struck by how eloquent and intelligent he seems. He can explain his views in coherent sentences even. Compare that to GWB...

Of course americans must partly blame themselves for pretending to live the american dream - on credit.

But you can also easily put massive blame on the big corporations, and the handful of billionaires that control business - and washington. People who pride themselves on being republican and 'patriotic', while being delighted to sell the US out to Saudi and Chinese interests without blinking an eye, if they can make another buck on it. Yes - i actually believe that they are willing to put american interests, and american lives on the line, in order to make Halliburton and others, a billion more here and there.

[Goggen]

The scary thing about this whole issue is that it seems to go unnoticed, I've neither heard Obama or Mccain devote anything more to this issue than a passing remark when compared to say health care or Oil. Is it so damn sensitive that it's just swept under the rug only to emerge later on and bite everyone in the ass with a rusty bear trap. This should definitively be on of the states major concerns, but people seem loathe to discuss even when they're painfully aware of it.

[vinny_121_ND]

The scary thing about this whole issue is that it seems to go unnoticed, I've neither heard Obama or Mccain devote anything more to this issue than a passing remark when compared to say health care or Oil. Is it so damn sensitive that it's just swept under the rug only to emerge later on and bite everyone in the ass with a rusty bear trap. This should definitively be on of the states major concerns, but people seem loathe to discuss even when they're painfully aware of it.

I agree. During the debate, McCain didn't really go into specifics of how he would deal with the economy, except he would know exactly how to deal with it. ... Well the american people can't wait till 2009 for that answer, they need it now. Palin simply didn't have any answers except say the same thing. But, we have a dedicated thread to the mccain/palin rant thread.

[brainplay]

Call me crazy - but didn't Clinton leave office with a trade surplus, and in general an economy in much, much better shape then what we see today?

Yes - i actually believe that they are willing to put american interests, and american lives on the line, in order to make Halliburton and others, a billion more here and there.

No, he left the economy bordering on a recession when he left office. The opening years he was living high off of Reaganomics but his high taxes slowly caused it to go down and down. The national debt ended up being raised by $1.4 Trillion dollars. The trade "surplus" was paper only and poorly reported when in actuality we were still $95 billion in deficit. The supposed surplus came from the public debt being reduced by excess Social Securities taxes but those nice news people didn't bother to note that inter-gov holdings were going down in debt way faster (the two together make up the total national debt total). Smoke and mirrors my friend.

About the only thing I can give him credit for was "almost" balancing the budget and being extra kinky in the oval office. woot Being top dog you'd think he could have done better.

Haliburton and other companies are there to make profit for themselves and their shareholders (oh yeah anyone can be one of those), not to benefit the general American public who would tear those companies apart to fill their own greed. If you haven't noticed its mighty expensive to higher even non-skilled laborers in the US. With labor being the highest overhead its no surprise when companies look to countries like India and the Philipines to help its costs.

If you're still holding onto the whole Haliburton/Cheney caused Iraq conspiracy then I really feel for you. :roll: