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January 19, 2010

I.O.U.S.A.

by Franz Patrick


I.O.U.S.A. (2008)
★★★★ / ★★★★

This is an eye-opening documentary about the United States’ journey to a financial disaster and I believe it should be seen by everyone. Prior to this film, I had no idea that (when this film was made), we were about $8.7 trillion in federal debt (the film also estimated it to increase to $10 trillion by 2009). I also had no idea how to answer some of the basic economic questions that the film asked the audiences (via asking random people in the streets). I mean, I knew that the economy was “bad” because that’s all I hear whenever I turn on the news, but “bad” doesn’t even begin to cover how much trouble we are in. Economics might not be my forte when it comes to academics but I strongly believe that, despite one’s focus of education, it’s everyone’s responsibility to understand how the system works. And this movie convinced me that I need to be more proactive in really ascertaining why taxes are increasing, where the taxpayers’ money are going, excessive proposed programs that might get us into deeper debt and more. The movie, directed by Patrick Creadon, presented the deficits into four parts (budget, savings, leadership, trade), focused on why they are a problem, and towards the end suggested of ways how we could help prevent further increases in our debts. I also enjoyed the fact that this documentary considered what happened in the past (Rome, The Great Depression, World Wars I and II, the Clinton and Bush administrations) and how some of the very same problems are repeating in the present. But that’s not all–most importantly, it considered the future and made educated guesses on how the economy would be like by the time college students such as myself are retired (and who might be the financial world leaders). It’s a scary reality (the current) and even a scarier eventuality; but the point of this movie was not to scare people into inaction. Its sole purpose was to bring people into awareness and educate people like me who are not as in touch with our country’s pecuniary situations. To do that, “I.O.U.S.A.” presented a series of animations, interviews with high-level officials, metaphors, and cold hard facts so that we could digest a plethora of information and eventually form our own opinions in the matter. I only wished the documentary had run longer and given more time to explain why its proposed solutions would work. Other than that, watching this film was a very informative and worthwhile experience.

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