I.O.U.S.A. Movie Review

I just got back from seeing I.O.U.S.A. -- and it was certainly a very eye opening experience. Done in the same vein as documentaries like An Inconvenient Truth and Who Killed the Electric Car?, I.O.U.S.A. takes a hard look at United States’ current Federal deficit and spending problems, discusses how we got into this mess in the first place and what will likely happen if we don’t wake up and start to tackle the problem before it gets too late.

Aside from the fact that the film is relatively terrifying, I really enjoyed it. I’m also a nerd, and love numbers, finances and (most importantly) my money, so I’m probably predisposed to like this sort of thing. However, even if numbers don’t get your heart racing, because you are a tax payer and will continue to be profoundly impacted by our ballooning Federal deficit, it’s worth your time and money to go out and see this film.

One of the things that impressed me about I.O.U.S.A. was the fact it was presented in a nonpartisan manner. In general, there wasn’t much finger pointing at anyone or any group in particular, rather the blame was spread across our elected officials, their appointees and all of us tax payers.

By spending time talking about the Federal Reserve’s monetary policy, the Executive and Legislative Branches’ lack of a sound fiscal policy, or John and Jane Doe’s inability to save and live within their means and pretty much everything in between, it was easy to walk out of the film and feel that all parties involved have played a significant role in helping to run up a now nearly $9 trillion deficit. On the flip side, it was also easy to see how each group could do their part to help facilitate change.

With people like Warren Buffett, Dr. Ron Paul, Alan Greenspan, Paul Volker and David Walker (more about him in a bit) contributing, it’s very hard to not take this film seriously. After all, when the world’s richest man (Buffett) tells you that a sustained trade deficit will ultimately cause severe economic hardship down the road, it’s kind of hard to not believe it.

With regards to David Walker, he is my new hero, and someone that we should all admire. As former Comptroller General of the Government Accountability Office, Walker not only had more insight than anyone into the Federal government’s books and financial problems, but he was one of the first people to really take a stand and bring these issues to light. Despite the gloom and doom message he presents, he does not come off as a “Chicken Little” figure, rather someone who knows exactly what he’s talking about.

So, please, do yourself a favor and catch a matinee showing of this important film. Then, take action.

Links worth checking out:

• I.O.U.S.A Website
• The Peterson Foundation
• David Walker’s Wikipedia Page