Posted: June 8th, 2014

Why is the American public so uninformed about our Nation’s financial condition and fiscal path and the implications for the economy?

Do not substitute the 30-minute version on YouTube

(Netflix DVD, on reserve at Ayala Library)

Last year on Halloween, I tried to find a scary movie to show the SS1A students that day.  This was the scariest movie I could find.

“…most unexpectedly frightening movie in the [Sundance Film] festival.”  — Kenneth Turan | Los Angeles Times

“The critically-acclaimed “I.O.U.S.A.” documentary…tells the story of America’s four key deficits – budget, savings, balance of payments and leadership – and their

implications for the nation and U.S. citizens.” (film website)

At the end of your documentary review, connecting the film to course content, please address these questions.

1. Is there any single thing in the film that surprised you or alarmed you?  What was that?

2. Why is the American public so uninformed about our Nation’s financial condition and fiscal path and the implications for the economy?

3. Why don’t we see more stories in the media about the country’s deteriorating fiscal condition?

4. In 1994, the Republican “contract with America” called for a balanced federal budget, and a few years later, the Bush (41) and Clinton administrations established a

policy of fiscal restraint aimed at restoring fiscal discipline.
Why do you think the government was unable to continue on this bipartisan track of fiscal responsibility?

5. Why do you personally think Americans have such a low savings rate? What prompts so many individuals to spend more money than they make?

6. What would you be willing to forgo, either personally or in your community, in order to help balance the federal budget?

7. What will it take to make us change our free-spending ways, both as a nation and as individuals?

8. The refrain in the song heard over the closing credits of the film says, “You’ve got to be cruel to be kind.” How does this expression apply to the goal of reducing

the federal debt?

9.  Locate Public Debt Clock on the internet to find the amount of the public debt today.
Also, look at the public debt since the film – Bush (42) and Obama.
http://www.skymachines.com/US-National-Debt-Per-Capita-Percent-of-GDP-and-by-Presidental-Term.htm

What is the amount of the public debt today?  What is the trend since Clinton?

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