One of the tough parts about being on the Notable Videos for Adults Committee is that we have to watch many movies dealing with unpleasant truths. I.O.U.S.A. certainly falls into this category. The film provides a history of U.S. debt and outlines the current conditions which are making it worse. It focuses on former U.S. Comptroller General David Walker as he travels the country in an attempt to educate people about the dire financial state of the U.S. and on Bob Bixby representing the grassroots Concord Coalition.

The film excels at making complex economic concepts understandable (i.e. even I understand them, which is saying something), although at times it seems that it may be oversimplifying. Analogies to running a household, I assume, belie the true complexity of some of the issues. Similarly, there were times I felt some points were not given the attention they deserved. For example, the film points to our trade deficit with China and laments that the U.S. sells raw materials to China and then buys products from them rather than produce its own products. It seems somewhat disingenuous to not address the human rights and environmental issues that allow China to produce such cheap goods and ignore the greater hidden costs of these practices. Of course, these are big topics in and of themselves and the film strives to stay focused, but I.O.U.S.A. seems to suggest that the trade deficit is mostly a matter of political will.

Overall, I.O.U.S.A is an important film that sheds lights on issues that many people are ignorant of (as exemplified by many “man on the street” interviews).

Note: you can watch a 30 minute version of the film at the I.O.U.S.A. site.