What If Your Country Become Homeless Tomorrow? – I.O.U.S.A

September 2nd, 2008 | by Masa |

My initial purpose to watch this film was solely for the extra credit in my Econ class although I was alittle intrigued that this documentary film was put on the screen as well as any other Hollywood movies. However, after the film, I’m really glad that I watched it.

The film is about the reality of the United States’ huge deficit, which most of the people are unaware of. $8.7 Trillion. That is just too far amount beyond my imagination. It is 264% of GDP. And it’s still growing.

Imagine the United States as one big family. Under president George W. Bush administration, which is like a bad parenting, by Tax cuts and money supply (which causes high inflation), American citizens have become like spoiled kids given credit cards. They have no idea about the family’s financial situation and they spend money as much as they want. Consequently, it caused subprime issues already. Like any other normal family, there’re only two ways to decrease their deficit. 1) Increase their revenue. 2) Decrease their spending. With all the deficit they already had, simply, they could not afford tax cuts. And 911, Iraqi War, and Hurricane Katrina happened, which resulted in huge adds on spending. What is going to happen when Baby Boomer generation retires? Can we take care of them with this debt?

Until I saw this truth, I thought American people are very rich. Luxury cars, gorgeous house, expensive lifestyle (gym, foods, gas, and etc.), traveling for weekends, and extravagant tastes (designer’s clothes, upper scale furniture, and etc.). I’ve seen many people from any other countries, but I feel American people have the most luxurious lifestyle. Maybe it is a time for us to review our lifestyle and to be back to the old style; spend alittle and save money for the future.

P.S. I couldn’t tell what I.O.U.S.A stands for. If anybody knows…?

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3 Responses to “What If Your Country Become Homeless Tomorrow? – I.O.U.S.A”

  1. By Mike Harmon on Sep 2, 2008

    Hello.

    I would like to put a link to your site on my blog roll if you want to do the same for mine. It would be a good way to build up both of our readerships.

    thank you.

  2. By Masa on Sep 8, 2008

    >> Mike

    You’re welcome to put a link to my website. I would do the same for yours. Great website, btw.

    Cheers!

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