By A documentary I watched on Netflix over the weekend that I thought was quite good was I.O.U.S.A. that was put together by a fiscal responsibility group called the Concord Coalition:
The documentary is actually a bit dated since it was released before the 2008 election which was back in the day when we as a country were only approaching $9 trillion in debt. The movie was organized in to four parts to better explain how the US got to where it is currently at financially. The four parts were:
- budget deficits – The film had some really good graphs to show the debt to GDP ratio over the course of the country’s history. Where the US is going with the increase in Social Security and Medicare spending in the next two decades is scary.
- savings deficits – Americans are not saving and instead going deeply in debt due to easy credit.
- trade deficits – America is importing and consuming more than its exporting that generates revenue. This import consumption is caused by the easy credit that allowing Americans to continue to spend though they don’t have money to afford it.
- leadership deficits – US Politicians don’t have the moral courage to stand up and tell voters there is no free lunch and instead continue to pass the buck on implementing real reforms to address the fiscal problems.
Despite what I thought was an informative film I think some people may be turned off from this documentary simply because it does have a large anti-Bush theme to it, but the facts are the facts. The film showed how the Bush tax cuts, war spending, and Medicare prescription drug bill helped to blow a bigger hole in the federal deficit. They even had former Treasury Secretary Paul O’neill in the film explaining how he was fired by President Bush for arguing against his tax cuts because of the fiscal damage they would do.
However, the film did point out how the budget surpluses from the President Bill Clinton years were also an illusion. During the Clinton years surplus money in Social Security was used to pay down the deficit which made it looked like there was a budget surplus when in fact it just took away money from Social Security. Overall though clearly the Clinton fiscal policies were much better than Bush’s.
What I found most interesting about the film was that the Concord Coalition that put this film together should basically be considered the first Tea Party members because the fiscal responsibility they advocated during the Bush years is basically what the Tea Party is advocating for now. However, you heard no one calling the Concord Coalition racists and extremists back then or even now since they continue to advocate for fiscal responsibility and balanced budgets.
Anyway no matter what your political beliefs I think this is a good film to check out and would even be better with an update after the next election.
She hasn’t seen...
1:19 am on September 7th, 2011 1
I rented this DVD awhile back and it’s very good. I think point about the leadership failure is correct but the politicians come from U.S., they are U.S. and they represent U.S.
If the average citizen digs themselves deep into debt why would we expect our politicians to behave any differently? – especially when these leaders are spending someone’s else’s (the taxpayers) money. They don’t care about U.S. just like the average american doesn’t care about anybody but themselves.
It’s selfish greed run amok BY EVERYONE, regardless of status or stature. Now there’s no way to stop it and therefore guess what’s going to happen?
12:26 pm on September 7th, 2011 2
No problem: We can change the facts to fit our agenda. For example, we can blame Obama for the 2008 and 2009 budgets and then claim he “tripled the deficit.”
3:34 pm on September 7th, 2011 3
#2,
PS. I wonder how these Teabaggers (“No Teabagging allowed in this establishment!”) explain how Canada can have universal healthcare and still manage to have a per capita debt that is only 1/4 of the of the US.
5:35 pm on September 7th, 2011 4
Whenever I hear the term “teabagger”, I always wounder to myself; just how ignorant can that person be. (obviously an emotion driven individual)
But what I really do find interesting is that no mention of Congress is EVER made. I must therefore believe that they only serve as decoration.
Odd, that Obama is so upset with a group of individuals that do nothing, except of course,stop him from spending. (just as the GOP congress held Clinton’s spending in check)
But no, no. Let us not stop the Bush vs Obama discussion. After all, Liberals are ruled by their emotions, no matter what country they come from. They also need something to keep their emotions entertained while their Obama kills jobs with regulations and Maxine Waters pushes for yet another Trillion dollor jobs spending bill. (that worked so well in cali with the green jobs) What was the name of that solar company that received hundreds of millions of Federal Funds and went broke this year. I’m sure Bush had SOMETHING to do with that. He always does
.
As for Obamacare. It is not Constitutional. Period. Canada can have it and I’m happy it works for THEM.
Unemployment in 2008 was 7. something. After 2.5 years (Kushibo is that correct) it is 9. something.
Obama has added 4 trillion to the debt. Sorry (really — I AM!) just a fact.
9:08 pm on September 7th, 2011 5
There wasn’t much Clinton could do for his last 6 years in office with GOP majorities in both houses.
2:59 am on September 8th, 2011 6
Retired GI wrote:
How do you get $4 trillion? On October 1, 2009, the public debt was $7.505 trillion and on September 6, 2011, $10.058 trillion, a difference of about $2.5 trillion, about two years’ worth of deficit at the rate we’ve been at since Bush43′s last budgetary year.
And while it’s nice that unemployment was 7 percent in 2008, that was based on faulty numbers that underreported the hemorrhaging of jobs.
3:30 am on September 8th, 2011 7
#4,
They were the first to use that name, so tough. They only changed it when John Waters went on TV and thanked them for turning an obscure term he used in one of his movies into a mainstream one.
3:41 am on September 8th, 2011 8
Got a link?
Even if they did in the past, I think the mistake has been realized and they prefer not to be called that now. Even if you don’t like their political positions, I’d say dispense with the “tea bagging” term.
3:44 am on September 8th, 2011 9
Teadrinked, we already went thru this and I showed you to be wrong. Not that I expect you to understand. It is just beyond you. So sad.
Kushibo, OF COURSE it is faulty info for you. You can’t except the truth. Enough said.
Typical Liberals the both of you. But don’t worry; GI Korea wants to be just like you.
4:42 am on September 8th, 2011 10
Numbers are such magical things. It’s so easy to misrepresent them, anyone can do it.
That’s a large part of why we are in the mess we are in.
7:09 am on September 8th, 2011 11
#1 Paul: YES!! You hit the nail square on the head as the saying goes, in my opinion.
#2 Kushibo: GI Korea’s critique of the film is about how we got in the hole today from where we were years ago as studies done in 92′ point out. You want to make it an issue that has evolved recently, over the last few election cycles (Bush/Obama). It is THE BIG PICTURE that is being taken into consideration. I have not seen the film but being a politics junky since Reagan, I am familiar with it.
Glad I read further down to #4 Retired GI. He saved me the time of disputing other things you have stated. He has more talent than I in the first place in laying out a great retort.
10:41 am on September 8th, 2011 12
News on Yahoo.com today: “Congress” needs to work WITH Obama and take action. One Question. Why does Obama need “congress” to act. I thought the President was THE MAN! Bush did this. Obama did that. Ahhhh, don’t think so. Congress must ALLOW the president to do anything, along with the Senate. But, Liberals need the Emotional conflict of this evil man against their God like man. I can only imagine the emotional toll it is taking on every Liberal from both sides, that Obama has been shown to be a typical THUG from Chicago. Not to mention (but I will) weak, even compared to Jimmy Carter. A good Leader listens to his experts. Obama has FAILED to do even this, oh so simple task.
But fear NOT! For the American people are, by and large arena stupid lot. They remain uninformed by their own choice. No other way to explain a Community Organizer being elected President in the first place. Hope? Hope for what? He never said. Change? What change? He never said. Yeah, lets change the greatest country on the planet. It would seem that the “change” Obama was speaking of was to end the America’s greatness. In that, he is doing a fine job. I’ll give him credit where credit is due.
11:25 am on September 8th, 2011 13
History is such a magical thing …
4:57 pm on September 8th, 2011 14
I wonder if Teadrinker thinks the Concord Coalition is a bunch of “teabaggers”?
Also the film does bring up the Republican Congress during the Clinton years as joining in with him and raiding Social Security to create the appearance of a surplus. As far as Congress during the Bush years they are not brought up during the film. However, budget blowing measures such as unfunded wars, prescription drug benefits, and tax cuts were passed during the six years of a Republican controlled Congress.
Since the Democrats took over in 2007 they have made no effort to stop the out of control spending either.
5:20 pm on September 8th, 2011 15
When Social Security was running a surplus, it bought treasury bonds. What should the treasury have done with they money it raised by selling those bonds?
7:19 pm on September 8th, 2011 16
#8,
…says the guy who still calls members of the Unification Church the Moonies.
3:02 am on September 9th, 2011 17
#14 GI Korea points out as negitives: “unfunded wars” and “tax breaks”. I am always shocked that an individual can feel that tax breaks are somehow an evil thing. It isn’t the Governments money. They didn’t earn it. I’m all for tax breaks! Even for the so-called “rich” who do the hiring anyway. I have never had a “poor” person offer me a job.
Unfunded wars? Has there ever been a “funded” war? I’ve not thought of them as ever being “funded”. DOD is funded. Year after year DOD is funded, war or no war. Just another Liberal spin with words. I recall during my time in uniform, having so much funds to spend. If after I had ordered what I NEEDED, there were funds left unspent, I was told to spend the remainder on whatever I could think of. In order to maintain the same for the next budget. Funded wars are Liberal talking points that didn’t exist before the Liberal hate of George Bush. More “blah blah blah” from Liberals. Good job GI Korea on falling for the Liberal talking points.
Perscription durg benefits I really know nothing about. I would THINK that the Liberals would LOVE the idea! After all, it is more government spending for the old folks. Not an earned benefit. The Liberals hate it because it is a ( BUT-BUT-BUT B U S H!) PROGRAM. They didn’t think of it themselves.
The Dems had better learn to control the Media! If not they will look the fool for generations to come because of the ill-logical and emotional hate of all things BUSH. I find it shocking that grown people could act in the manner that the Liberals do today. These people went to COLLEGE? They don’t act like educated people. Obama will end up being seen by History as the great experiment — that FAILED. Why did anyone vote for him again? No business experience. No military experience. No political experience — except for Chicago of course, which explains alot of his THUG attitude. He has no idea about how to take responsibility for his action. It is STILL “BUT BUT BUT — BUSH”. That Bush guy must have had some real power for his effects to still be felt 2.5 years later. WOW — OMG! Even the great Obama is powerless in his presents.
How did Obama’s speech go? He have a plan YET? Still all about taxing the so called “rich”? You know, those guys that pay most of the taxes NOW.
4:02 am on September 9th, 2011 18
Who said tax breaks are an evil thing? I have no problem with tax breaks if they are corresponded with spending cuts or revenue increases in other areas of the government to compensate for the lost revenue. That is not what Bush did. He cut taxes and went on a wild spending spree. The only thing worse than a tax and spend liberal is a tax cutting and spend conservative.
1:10 pm on September 9th, 2011 19
Oh it IS maddening. GI Korea actually BELIEVES, that your *YOUR* money, (if it is not Taken From You) is “lost revenue” to the government. Hello! It is not the Feds money to begin with. They don’t earn it. The People earn it. In the form of taxes, the people ALLOW the government to take our *OUR* money.
It is not *REVENUE*. Welcome to the LIBERAL mind set GI Korea. You made it. You believe that the people work to sustain the government. Oh, and when I said Liberal mind set, that is code of Socialiist mind set.
You would have loved Bush’s spending “spree” if anyone but Bush had done it!
After all, you love the spending spree that Obama has done and is asking congress to do YET again. Obama has wasted 4 trillion dollors in 2.5 years! You do the math GI KOREA. You are educated, yes?
You can not (not possible) point out any problem with bush spending “spree” and vote for Obama in 2012. It just isn’t possible.
Obama has spent MORE IN 2.5 YEARS than Bush did in 8 YEARS!
Come on GI Korea. I really don’t mind if you want to be more Liberal. I assume so you can better get along with your friends, like Kushibo or Teadrinker. I get it!
But if you are now starting to forget simple addition and subtraction, being Liberal just might be too expensive
I repeat: If you were against Bush’s spending “spree”, you will be against Obama in 2012. He is spending more and faster than Bush ever thought about doing.
7:17 pm on September 9th, 2011 20
Retired gi does make arguments with solid empirical data…