Our national debt is currently the highest its ever been in history. Not counting the legacy costs of Social Security and Medicare, the national debt is over $11 trillion!
How did this happen? The politicos in Washington (the 545), seem to have little (if any) respect for the taxpayers who are on the hook for this debt (and a few are probably just naive), so they just spend and spend and spend!
David M. Walker, former Comptroller General of the United States and head of the GAO, has created a documentary titled "I.O.U.S.A." I watched the entire film the other night and I must say, this should be mandatory viewing for every person in America! And in every school's curriculum!
This is a very important film.
The movie explains the national debt, foreign trade deficits, our decrease in personal savings, how the prime interest rate works, and the politics of it all ... The United States is broke, and probably going bankrupt in our lifetime. This is the most important issue of our time.
Go get this movie and watch it! At the very least, please take the time to watch the byte-sized (30 min) version below the fold.
[adsense]
