"I.O.U.S.A. boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. As the Baby Boomer generation prepares to retire, will there even be any Social Security benefits left to collect? Burdened with an ever-expanding government and military, increased international competition, overextended entitlement programs, and debts to foreign countries that are becoming impossible to honor, America must mend its spendthrift ways or face an economic disaster of epic proportions. Throughout history, the American government has found it nearly impossible to spend only what has been raised through taxes. Wielding candid interviews with both average American taxpayers and government officials, Sundance veteran Patrick Creadon (Wordplay) helps demystify the nation's financial practices and policies. The film follows U.S. Comptroller General David Walker as he crisscrosses the country explaining America's unsustainable fiscal policies to its citizens. With surgical precision, Creadon interweaves archival footage and economic data to paint a vivid and alarming profile of America's current economic situation. The ultimate power of I.O.U.S.A. is that the film moves beyond doomsday rhetoric to proffer potential financial scenarios and propose solutions about how we can recreate a fiscally sound nation for future generations. Written by Anonymous"
http://www.imdb.com/title/tt0963807/plotsummary
I.O.U.S.A. Movie Trailer
http://nl.youtube.com/watch?v=HBo2xQIWHiM
I.O.U.S.A
http://en.wikipedia.org/wiki/I.O.U.S.A.
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Does anybody know why the subject of the gigantic US national debt is not a major issue in the Presidential elections ? Should it be in your view ?
Originally posted by ivanhoeEnding the war in Iraq will save a couple hundred billion a year.
Not only McCain wants to cut taxes but also Obama wants to do this .... for 95 % of the Americans.
They want better education, better health care, wage war, etc etc ... the question remains: How are they going to finance these plans if nobody wants to raise taxes ?
Anybody ?
Originally posted by ivanhoeHe's stated no such thing. There's no way he's going to shift the full force from Iraq to Afghanistan. They'll be a substantial reduction in forces overseas under Obama. That will create a significant savings.
Obama stated that the troops in Iraq are needed in Afghanistan. So .... the problem remains.
Originally posted by no1marauder"He's stated no such thing."
He's stated no such thing. There's no way he's going to shift the full force from Iraq to Afghanistan. They'll be a substantial reduction in forces overseas under Obama. That will create a significant savings.
We'll see about that.
Anyway, do you think the savings coming from the plans you think will be implemented by Obama will be enough to reduce the national debt substantially ?
The huge national debt seems to be an issue of little or no importance to both Republicans and Democrates. But face it, sooner or later it will become a stone around the US's neck ... and then you'd better stay away from the water.
National Debt Clock:
$ 9,654,133,086,763.63 ( ... almost 10 trillion dollars)
http://www.brillig.com/debt_clock/
....and it's ticking.
Originally posted by ivanhoeWhy is it the elephant in the room? Because maybe at this stage of the game nothing and no one can do anything about it.
The huge national debt seems to be an issue of little or no importance to both Republicans and Democrates. But face it, sooner or later it will become a stone around the US's neck ... and then you'd better stay away from the water.
Whatever austerity measures are implemented will simply be a case of too much too little too late.....
So instead its steady as she goes, pick a fight with some small fry here and there to generate some cashflow**, and do everything in your power to stall the inevitable.
** I mean if you are going to go belly up anyway you may as well help some of your own fill their coffers for as long as you can. When the creditors finally arrive at least some of your buddies would have got some action.
Originally posted by ivanhoeNo. Hopefully it could stop its immense growth and perhaps in time start retiring some of it. In the last three years of Clinton's presidency, the debt was reduced by $355 billion. http://archives.cnn.com/2000/ALLPOLITICS/stories/05/01/clinton.debt/
"He's stated no such thing."
We'll see about that.
Anyway, do you think the savings coming from the plans you think will be implemented by Obama will be enough to reduce the national debt substantially ?
Granted the economy was much better than than it is now.
Originally posted by no1marauderNo plans to implement, not from Barack not from McCain, just hope ...... oh well .....
No. Hopefully it could stop its immense growth and perhaps in time start retiring some of it. In the last three years of Clinton's presidency, the debt was reduced by $355 billion. http://archives.cnn.com/2000/ALLPOLITICS/stories/05/01/clinton.debt/
Granted the economy was much better than than it is now.
Originally posted by ivanhoehttp://zfacts.com/p/318.html
The huge national debt seems to be an issue of little or no importance to both Republicans and Democrates. But face it, sooner or later it will become a stone around the US's neck ... and then you'd better stay away from the water.
National Debt Clock:
$ 9,654,133,086,763.63 ( ... almost 10 trillion dollars)
http://www.brillig.com/debt_clock/
....and it's ticking.
Clinton improved the national debt as a function of GDP, and even began to pay off the debt by the end of his presidency. He did this by cutting wasteful military spending, and by taxing the top 1.2% of income earners whilst giving most people a tax break. Obama plans to do something similar, even though McCain (and now Palin) are telling lies saying he wants to raise taxes across the board.
Originally posted by karnachz.... what surprises me most is that neither candidate is seriously adressing this issue.
http://zfacts.com/p/318.html
Clinton improved the national debt as a function of GDP, and even began to pay off the debt by the end of his presidency. He did this by cutting wasteful military spending, and by taxing the top 1.2% of income earners whilst giving most people a tax break. Obama plans to do something similar, even though McCain (and now Palin) are telling lies saying he wants to raise taxes across the board.
WHERE DO YOUR TAX DOLLARS GO?
The median income family in the United States paid
$2,628 in federal income taxes in 2007.
Here is how that money was spent:
Military $1,109
Health $581
Interest on Non-military Debt $269
Anti-Poverty Programs $228
Education, Training & Social Services $115
Government & Law Enforcement $102
Housing & Community Development $88
Environment, Energy & Science $69
Transportation, Commerce & Agriculture $40
International Affairs $27
Proposed Federal Spending and Tax Cuts in FY2009:
Take a look at the tax cuts for the richest 10% ....
Shame on you America !
http://www.nationalpriorities.org/auxiliary/taxday2008/999.pdf