at the urging of my buddy todd i watched the movie I.O.U.S.A., a 2008 documentary aimed at educating the public about the exploding federal debt and how scared americans should be. the sad part is that most people in the general public just have no clue. and worse yet, more of an interest in watching american idol or dancing with the stars than learning about this "boring" stuff.
in 2000, the federal debt was approximately $5 trillion. by the time this movie was made, the debt had risen to approximately $9 trillion. as of november 2009, the debt is now a little over $12 trillion. the country can not continue on this path.
no matter what side of the political aisle you reside, the information in this movie is compelling, shocking, frightening and should be common knowledge of the general public. if you are a netflix kind of person, you can even watch it instantly.
Subscribe to:
Post Comments (Atom)
Posts
Paul - I have not seen this movie but if this subject interests you, pick up a book written by wall street guy Peter Schiff called "Crash Proof 2.0". He goes into detail about how our ballooning trade deficit, federal debt, and the government interventions currently undertaken are sure to create a catastrophic economic situation for the US. The most likely scenario that he outlines, is that the holders of our debt, the Chinese and Japanese gov'ts, will eventually deem our debts worthless and start selling the debt and using US dollars to buy american goods and services, driving up prices for everything in the US, creating hyperinflation...and destroying the value of the US dollar.
ReplyDeleteDan McMullen