A film that warns Americans of an impending economic crisis due to exponentially increasing national debt will be shown to delegates at both political conventions and debuts nationwide in August in selected theaters.The film, entitled “I.O.U.S.A.,” is part of a grassroots campaign sponsored by the Peter G. Peterson Foundation to engage young people and the business sector and mobilize them to take action.
The foundation claims that America is currently burdened with $53 trillion in obligations -- $175,000 per American -- due to an addiction to debt, near-zero national and personal savings, and the rising costs for social programs like Social Security and Medicare.
The film, which was screened for members of Congress and others in D.C.’s policy establishment Wednesday night, focuses on what it calls America’s “four key deficits” – budget, savings, balance of payments/trade, and leadership.
“America is getting mired in more and more debt and unsustainable promises at both the national and personal levels,” Peterson said in a news release announcing the project. “This is a vicious cycle that must be broken, before it breaks us.”
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