I.O.U.S.A.

A documentary by Patrick Creadon. Rated G. Playing at the Granville 7 theatre.

A documentary on one country’s fiscal policy is a tough sell at the best of times. In the worst of times, the deal looks a little more intriguing.

In this breezy, well-designed film—made before the Wall Street calamity happened—various financial heads are seen talking, either to the camera or in the context of meetings or congressional hearings. These include such well-known money mavens as ubiquitous rich guy Warren Buffet, former treasury secretary Paul O’Neill, and failed presidential candidate Ron Paul, all expressing dismay at the way massive debts are currently being handled—in Washington, D.C., and in homes everywhere.

The most screen time is given to soft-spoken U.S. comptroller general David M. Walker, who has been warning citizens under four presidents, and gangly Robert Bixby, executive director of the nonpartisan Concord Coalition. They are seen touring the nation on a Fiscal Wake-Up Tour—that doesn’t seem to stir many snoozers—that attempts to alert local lawmakers and news media to a (once-) coming crisis.

Handsomely directed by Patrick Creadon, who brought us the entertaining crossword-puzzle doc Wordplay, I.O.U.S.A. divides its tale of budgetary collapse into four sections, using cleverly graphed time lines to depict an almost steady rush into insolvency over a 200-year period.

The final chapter dwells, right before a major election, on the leadership deficit. Quiet disdain is hurled at George W. Bush, who oversaw the hollowing-out of the domestic work force and the unregulated redistribution of wealth into risk-taking hands. But the real contempt is saved for Richard Nixon, who detached paper money from the gold reserve and established a trade policy with China guaranteed, it turns out, to make Americans really hungry just a few decades later. Watch it while you can still afford movie tickets.

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