I.O.U.S.A. (Creadon, 2008)
November 16th, 2008A probing and comprehensive look at the breadth of our current economic crisis, I.O.U.S.A. squeezes a whole lot of sobering facts into 85 educational (and painful) minutes. Told through the eyes of David Walker, the U.S. Comptroller who’s made it a personal mission to zig-zag the country in an attempt to enlighten the public about just how deep the shit we’re in is, I.O.U.S.A. comprehensively examines the multiple—and often underdiscussed—forms of debt that American’s currently suffering under. It goes far beyond credit cards and foreclosures; for instance, few statistics were more unsetttling than seeing that the United States ranks dead last in the world in terms of trade debt…by seven times the country directly ahead of us. Yikes. President Obama, get ready for quite the slog, though you certainly knew that without director Patrick Creadon’s help!
I.O.U.S.A. astutely weaves together foreign policy with America’s financial woes; if the amount of our debt held by foreign countries, particularly China and Japan, continues to mount, then our leverage during diplomatic negotiations rapidly shrinks. The film illustrates that even many “gains” are mirages, as Social Security and Medicaid are going to become very tough to sustain as the baby boomers begin to retire. And scarily, most of those who will be affected most by the declining path (our 17-35 year-olds) are mostly oblivious to the straits that we’re in. Our youth must shoulder much of the blame for their own disinterest, but it doesn’t help when newscasters elect to showcase lost wedding rings on the evening news instead of arrival of Walker & Co. in town. 2008’s Presidential election showcased how petty distractions often overshadow the devastating issues our country faces, and I.O.U.S.A. makes it clear that this is oh-so-true on a local level as well.
Perhaps most impressively, I.O.U.S.A. does an excellent job of presenting the weight of our burden as all-encompassing for Americans—Creadon (Wordplay) avoids turning his film into a partisan slugfest, instead opting to focus on how our country as a whole must come together as soon as possible to fix this if we don’t want to see our children pay 46% taxes in 25 years. The filmmakers certainly appear to prefer the bottom-up economic philosophy rather than trickle-down—there are several interviews with economists who express skepticism with Reagonomics despite their overwhelming popularity at the time, and there’s a shot of Bill Clinton signing the first balanced budget in 30 years—but unlike most political documentaries (as we all know, Hollywood tends to lean, er, slightly to the left), playing the blame game or bashing Republican ineptitude never seems to be the point. There are plenty of harsh words about excess spending (a Conservative talking point, and one that’s certainly valid, if just one piece of the pie), and ultimately, our current budget imbalance affects American of every political party. It would do us well to see Democrats and Republicans work together on this, though history has taught us that bi-partisanship is easier said than done. Thankfully, we may finally have an administration that’s serious about having its actions match its rhetoric. After the disconcerting numbers and sobering circumstances that I.O.U.S.A impressively breaks down for us, it’s clearer than ever that we’re going to need all the teamwork we can get.
RATING: PRO (-)