New Movie

Friday, August 15, 2008

A new movie, actually a documentary, will be released in selected theaters next week. I fully realize that paying money to go watch a documentary ranks somewhere below getting a root canal and a prostate exam for most people. However, this one might be worth the time and money.

The name of the film is I.O.U.S.A. One Nation. Under Stress. In Debt.

Peter Peterson, billionaire co-founder of Blackstone Group (a financial mangement company), is one of the films primary financial providers through his foundation. Included in the film are interviews and commentary from Warren Buffet, CEO of Berkshire Hathaway and one of the wealthiest men in the world, former Chairman of the Federal Reserve, Alan Greenspan; former Alcoa CEO and Treasury Secretary, Paul O'Neill; former Treasury Secretary and current CEO of Citigroup, Robert Rubin; former Chairman of the Federal Reserve, Paul Volcker; and former Comptroller General of the United States, David Walker, among others. This is not a bunch of conspiracy theory nut-balls or sky-is-falling Chicken Littles. These men are from diverse backgrounds, from Nebraska farm boy to country club trust fund baby, and both political parties, but their message is the same -

"America must mend its spendthrift ways or face an economic disaster of epic proportions."

The American taxpayers are on the hook for more than $50 trillion dollars in debts, liabilities and unfunded government promises.

I have not see the movie, yet, but it is my understanding that the producers tried to be as non-partisan as possible - a presentation of facts and circumstances, not a diatribe against either political party. I do not know what they propose. I have no idea if I will agree or disagree with their ideas and solutions. All I know for sure is that there is a problem on the horizon and we must begin addressing it before it is too late.

The film's website is http://www.iousathemovie.com/

The foundation's website is http://www.pgpf.org/

I know this stuff is boring. I know it is doom and gloom. I know it is a Friday afternoon - trust me, if I didn't think this was important, I would be doing something else. I know it isn't exciting or fun to think about, but I also know that our generation is going to face an enemy and a battle that makes those faced by "the Greatest Generation" pale in comparison - ourselves. Rome was not conquered by an outside force. It destroyed itself.