Recently, I joined a throng of 25 people in a theater with a capacity of 250 to view the premiere of the documentary "IOUSA." The film, directed by Patrick Creadon, outlines the U.S. national debt, how we got to where we are and the dire predictions for the future. It is loosely coordinated around the "Fiscal Wake-up Tour," a road show featuring former U.S. Comptroller General David Walker and Robert Bixby, executive director of the Concord Coalition.
I have been a huge fan of the straight-talking Walker since seeing him on CBS' "60 Minutes" more than a year ago. He gave an impassioned interview then, outlining the rapidly growing federal deficit and its impact on current and future generations.
Joining in a live panel discussion after the film's showing were Walker, Warren Buffett, Blackstone Group co-founder Peter Peterson, Cato Institute Chairman William Niskanen and AARP CEO Bill Novelli.
While I'm sure they were not as entertaining as the fantasy thrillers being shown in adjacent theaters, the facts and figures laid out in the movie were every bit as chilling as a horror movie to anyone who cares about the future of our country and the country we will leave to our children and grandchildren.
The movie commented on four types of deficits: the U.S. budget deficit, the U.S. trade deficit with other nations, the U.S. deficit of personal savings and a deficit of leadership in addressing these problems.
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