You are hereI.O.U.S.A. - the current national debt crisis in the USA
I.O.U.S.A. - the current national debt crisis in the USA
The president "almost-out" George W. Bush is quite a big spender. The national debt in the US has reached a record number during his presidency. Although Bill Clinton was since decades able to lower the national debt in the nineties, Mr. Bush happily spent a buck extra to compensate for it.
I.O.U.S.A. is a very well made documentary by Patrick Creadon which lays down the clear facts and history of the long mounting up debt crisis. Add to this the current financial crisis and the upcoming baby-boomers retiring wave, and you get a quite gloomy picture of the fiscal, and as a consequence political, future of the US.
This 30 minute preview of I.O.U.S.A. is well worth watching:
It's the same in Belgium. Moreover, our social security system is a bigger Ponzi Schema than Madoff's in the USA :).
By the way: Belgium beats the national debt figures of the USA!
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