For those of you who haven’t seen “I.O.U.S.A.”, and missed CNN’s airing of the condensed version, here it is. The film is highly acclaimed, and has been a big hit. It’s about the staggering amount of money – ($53 trillion at the time the film was released in 2008) in financial obligations owed by the federal government to foreign investors… and to every single American in the form of pensions, health benefits, Social Security and Medicare. Personal indebtedness is at an all-time high, and we have no personal savings. Add that to the trillion dollar plus Obama’s gunning for, and the picture grows even more sobering.
This clip is a great and understandable economics and history lesson. No matter which side of the aisle you sit on, this problem is inescapable, and most of our legislators are complicit in their inaction. Obama’s F.D.R. 2.0 policies should send a chill down our collective spines, as much of this problem originated with Roosevelt. Our national indebtedness is not only a problem for our economy, it is a huge national security weakness. This is definitely worth 30 minutes of your time.
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