I.O.U.S.A. (2008) is the best explanation of our nation’s financial problems and the deep severity of these that I have ever seen.
This video is a 1/2 hour condensed version of the full almost 1 1 /2 hour award-winning documentary.
David Walker, the former Comptroller General of the U.S. (1998-2008) is the star of this movie.
The documentary, with Walker’s steadfast warnings, describes the 4 ominous deficits that are driving this country to Financial Armageddon:
1) Budget Deficit
2) Savings Deficit
3) Trade Deficit
4) Leadership Deficit
What is incredible is how rather than listening to Walker’s exhortation, when the National Deficit was $8.7 trillion in 2007, just 5 years later now, there is a deficit going on nearly double that of $15.7 trillion.
We are facing a financial ticking time bomb that could result in huge inflation, economic stagnation, and the undoing of our economic and national security.
Moreover, towards the end of this year, we are facing the economic one-two punch of rising taxes and reduced national spending that could easily send our economy spiraling into recession or even depression.
Add to that rising interest rates, a financial crisis in the European Union, a continued housing crisis and high unemployment at home, and a true economic reckoning is at hand.
Watch I.O.U.S.A. and become proponents for financial discipline for ourselves and for the country.