I.o.u.s.a.

[MomToTwoBoys]

I saw this as I was flipping channels today before I passed out:

http://www.iousathemovie.com/

A lot of what I saw, along with the commentary on CNN, made you realize just how bad off the US really is when it comes to monetary issues. I highly recommend this to everyone, from savings to retirement to Social Security's crisis.

[TinyDancer]

I read about this movie a couple of months ago. I'm dying to see it but it isn't being shown anywhere near me.

Is it playing by you?

[knitnmom]

Wow, I just finished watching that 30 minute clip....very informative! It really helped me understand what it going on and how we got here and what needs to happen. Thanks for posting that link!!

[miaumiau]

Thank you for posting the link! I just finished the preview, and I have to say I am in a total shock and speechless. I know our country's financial situation is heading to a bad way but never realized how bad it's going to be. Too bad there are only two cities have showing. I guess I have to wait til the DVD comes out.

[brennasmom]

Added this to my Netflix Queue, hopefully it will be out on DVD soon.

[Gardengal18]

Very interesting. My question is though if things are this bad then why is our newely elected Govt and Congress about to add to the price of our country's Deficit? Makes no sense.

Usually when spending is out of control most households pull back on spending, they don't add to it. Perhaps our Govt should take a clue from the hundreds of thousands of U.S. Households who are on a BUDGET.

[Gardengal18]

I don't know, but for some reason this reminds me eerily of one of those Michael Moore's movies. I certainly didn't think it was "Bi-Partisan"

[scottp999]

I don't know, but for some reason this reminds me eerily of one of those Michael Moore's movies. I certainly didn't think it was "Bi-Partisan"

I would not even try to bring politics into it. Think of it as purley a financial matter. The deficits are real. You can find information on the Federal Debt in The Financial Report of the United States Government that is produced by the US Treasury and Government Accountability Office each year, 2 weeks before Christmas.

The Federal situation has become much worse since even early 2008 when some of the numbers were qouted. Total Federal Debt, both on and off balance sheet was approximatley 60 Trillion dollars at the end of the fiscal year (September 2008, before most of the crazy bailout money). We will most likely add another 5 trillion in 2009. That 60 trillion does not include state, local gov't, corporate, and consumer debt.

What is astonishing is that the total federal debt was only 20 trillion in the year 2000, we have trippled it in 8 years and it is still accelerating. Eventually the foreign contries that fund the day to day operations of our country will lose faith in the dollar (Federal Reserve Note).

Another report that is good to research and understand is the Flow of Funds Accounts of the United States, also called the Z1 report. The Z1 is produced quarterly by the Federal Reserve. Does anyone find it interesting that the main stream media never metions any of this?

Financial Report of the United States Governement (if you read the audit report, if you are like me, it will make you throw up): http://www.fms.treas.gov/fr/index.html

Flow of Funds Accounts of the United States:
http://www.federalreserve.gov/releases/z1/

** Here is a summary of the 2006 Financial Report of the United States Government that may help some get an intial understanding:

http://www.financialsense.com/fsu/ed...2006/1217.html

[Greebo]

Very interesting. My question is though if things are this bad then why is our newely elected Govt and Congress about to add to the price of our country's Deficit? Makes no sense.

We proved to Congress with this election that they can pretty much ignore the will of the people and they'll keep their jobs anyway.

Popular opinion was deeply opposed to the Financial Bailouts of 08, and they enacted them anyway, and as far as I know, nobody got voted out as a result.

So why should they worry about consequences when they now know the US Citizenry will never give them any. We're a nation of enablers. We enable Congress, Congress enables us. We're locked in a denial loop and until one side or the other stops the cycle, we'll stay in it until the chickens finally come home to roost.

[fixer]

We proved to Congress with this election that they can pretty much ignore the will of the people and they'll keep their jobs anyway.

Popular opinion was deeply opposed to the Financial Bailouts of 08, and they enacted them anyway, and as far as I know, nobody got voted out as a result.

So why should they worry about consequences when they now know the US Citizenry will never give them any. We're a nation of enablers. We enable Congress, Congress enables us. We're locked in a denial loop and until one side or the other stops the cycle, we'll stay in it until the chickens finally come home to roost.

We don't like any Congressman except our own. He/She is a great person because they take our tax money and use a small portion of it to build us a new road, bridge or school.

[peanut]

You know, this problem isn't isolated within the U.S. The Canadian government also operates on a deficit now. Our total debt exceeds $700 billion...and we have 1/10th the population of the US. And we just voted a party back into power who took a balanced budget and turned it into deficit budgeting.

Jean

[blitzen]

I don't know, but for some reason this reminds me eerily of one of those Michael Moore's movies. I certainly didn't think it was "Bi-Partisan"

Read the book. Paul ONeill is interviewed
. The book (and I assume, the movie) blames no individual or party, but the culture of debt that we have created. The part I found particularly troubling is the amount of US debt China holds--and the book explains how that can create a very bad political climate (not just in relation to China, but when any country holds stake of another country....its not good). There's also a synopsis of a Warren Buffet article that he wrote for a magazine (can't remember which one) putting the principles of economics in very simple terms. Worth reading the book just for that explanation!