Spilling Buckets: I.O.U.S.A on CNN

I.O.U.S.A on CNN

by Les@SpillingBuckets | Thursday, January 08, 2009 in Economy, National Debt |

Back in August a great movie came out: I.O.U.S.A.

Shortly afterwards we wrote about why you should care about the spiraling national debt, and then wrote four things you can do to help fix the problem.

I.O.U.S.A is a movie created with the help of David Walker, the former Comptroller General of the United States, who now works with the Peter G. Peterson foundation. Walker resigned from the government position because he saw what a dire situation the budget was in, and knew that we needed immediate action and change. Since his resignation he has been touring the country trying to educate as many people as possible about the crash he sees coming if we don't curb government spending and entitlement programs. One of the bigger ways he's reached out is with this movie.

We were fortunate enough to be able to see IOUSA the Movie on the day it opened, with the live telecast interviews afterward. If you weren't able to see IOUSA over the summer then you're in luck - CNN will be broadcasting it this weekend, twice.

I.O.U.S.A the special television version will air on CNN/U.S. on Saturday, January 10 at 2:00 p.m. EST and on Sunday, January 11 at 3:00 p.m. EST.

If for some reason you can't watch those there is still a third option; there is a half hour Internet version that has been updated since the summer (to reflect the current financial situation and economy) which you can find on the I.O.U.S.Athemovie website.

With the annual deficit reaching levels in the TRILLIONS even before Obama's next stimulus spending, it is more important than ever to be informed with what is going on. (Just for the record the deficit is currently predicted at 1.2 trillion which is $1,200,000,000,000.00, and the highest percentage in relation to GDP since World War II)

Whether you agree with Walker or not, this is a movie worth watching. It is very clear and easy to understand, non-partisan, and excellently done. So set your TIVO's and set aside some time to watch CNN this weekend.

Interested in more on the topic?

See our original posts:

And some related resources:

Wikipedia: United States Public Debt
Dissenting view: The National Debt, Is the sky really falling?
Details of Obama's Stimulus Ideas
News of the current deficit

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Goals

Here are our current list of goals as we discover what it means to be wealthy, abandon the deferred life plan, and work to design a fulfilling and sustainable life.

Have an emergency fund of 6-9 months living expenses. Accomplished: June '08
Eliminate higher interest student loans. A few of our big guys have some nasty rates attached to them, these must be destroyed.
Save for a down payment on a house. Accomplished! May '09 we bought a house!

When we started this blog we set a goal to have a zero net worth one year later. We are getting closer but our priorities sure have changed since then.

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