I.O.U.S.A.: One Nation. Under Stress. In Debt. [Paperback]

Addison Wiggin (Author), Kate Incontrera (Author), David Walker (Foreword)

Book Description

ISBN-10: 0470222778 | ISBN-13: 978-0470222775 | Publication Date: September 29, 2008 | Edition: 1

The United States has been spending its way deeper and deeper into the red, and saddling future generations with the mess—but who's paying attention?
To answer that question, the companion book to the critically acclaimed documentary I.O.U.S.A. talks with some of the most revered voices in the nation, including Warren Buffett; former Treasury Secretaries Paul O’Neill and Robert Rubin; Pete Peterson, CEO of The Blackstone Group; Congressman Ron Paul (R-Texas); and bestselling Empire of Debt author Bill Bonner.
Armed with these interviews, historical references, and damning statistics, the book takes a lively and entertaining romp through the four deficits the nation faces: the budget deficit, the personal savings deficit, the trade deficit—and what former U.S. Comptroller General David Walker, who resigned abruptly in 2008 over Congress’s lack of action, calls the “leadership deficit” in Washington.
Defiantly non-partisan, the empowering solutions outlined in these pages are a must-read for any American who wants to help change “business-as-usual” in Washington as a new administration heads towards the Oval Office. “We the People” can get our politicians to stop spending, promote responsible economic programs, and hand our children and grandchildren the secure future they deserve.

Editorial Reviews

Review

Praise for the theatrical version of I.O.U.S.A.:

"I.O.U.S.A. is a clear, cogent and compelling primer on contemporary American economics and the not-so-small matter of how we ended up at the edge of a precipice." -- Toronto Star

"The buck stops here in this sobering but disarmingly irreverent look at the national debt." -- Hollywood Reporter

I.O.U.S.A. | 3.5 Stars! "...it accomplishes an amazing thing. It explains the national debt, the foreign trade deficit, the decrease in personal savings, how the prime interest rate works, and the weakness of our leaders." -- Roger Ebert

"An alternately amusing and alarming primer on America's off-the-charts fiscal irresponsibility." -- Variety

"Equal parts enlightening and alarming, "I.O.U.S.A." highlights our unwise preference for short-term reward over long-term planning." NY Times

"For anyone seeking a clearer understanding of the financial state of the union -- and strong enough to take the sobering news -- [I.O.U.S.A.] is a good place to start." LA Times

"Some even wonder if it might do for the economy what Al Gore’s "An Inconvenient Truth" did for the environment..."I.O.U.S.A" is a bold attempt to highlight a potentially huge problem." -- The Economist

From the Back Cover

"Early reviewers have dubbed I.O.U.S.A. An Inconvenient Truth for the economy."
—The Washington Post

"The next president better take this seriously, or I fear that we'll be in a much worse situation than a recession."
—David Walker, former Comptroller General of the United States

The United States has been spending its way deeper and deeper into the red, and saddling future generations with the mess—but who's paying attention?

To answer that question, the companion book to the critically acclaimed documentary I.O.U.S.A. talks with some of the most revered voices in the nation, including Warren Buffett; former Treasury Secretaries Paul O'Neill and Robert Rubin; Pete Peterson, CEO of The Blackstone Group; Congressman Ron Paul (R-Texas); and bestselling Empire of Debt author Bill Bonner.

Armed with these interviews, historical references, and damning statistics, the book takes a lively and entertaining romp through the four deficits the nation faces: the budget deficit, the personal savings deficit, the trade deficit—and what former U.S. Comptroller General David Walker, who resigned abruptly in 2008 over Congress's lack of action, calls the "leadership deficit" in Washington.

Defiantly non-partisan, the empowering solutions outlined in these pages are a must-read for any American who wants to help change "business-as-usual" in Washington as a new administration heads towards the Oval Office. "We the People" can get our politicians to stop spending, promote responsible economic programs, and hand our children and grandchildren the secure future they deserve.

See all Editorial Reviews

Product Details

• Paperback: 266 pages
• Publisher: Wiley; 1 edition (September 29, 2008)
• Language: English
• ISBN-10: 0470222778
• ISBN-13: 978-0470222775
• Product Dimensions: 9 x 6.3 x 0.8 inches
• Shipping Weight: 12 ounces (View shipping rates and policies)
• Average Customer Review: 3.8 out of 5 stars  See all reviews (31 customer reviews)
• Amazon Best Sellers Rank: #378,807 in Books (See Top 100 in Books)

Customer Reviews

Most Helpful Customer Reviews

70 of 81 people found the following review helpful:

2.0 out of 5 stars Underwhelmed, October 4, 2008

By 

M. H. Brandenburgh (New York, NY) - See all my reviews

Amazon Verified Purchase

This review is from: I.O.U.S.A.: One Nation. Under Stress. In Debt. (Paperback)

I got this hoping to learn a lot about our national debt problem: what exactly it means, how big the problems are, what the causes are, etc. This book has almost nothing of that: whatever discussion there is of actual facts is just meant to make the reader understand this is a big problem--something anyone who buys this book already knows. That is to say, this book is very lacking in statistics and study of what they mean.
The book is arranged in two sections: the first part is the informative section, and the other half is a collection of interviews with supposed experts. Unfortunately, most of the information section is just a narrative walkthrough of how they made the movie: "While we were making the movie, we found out about this student group which is doing the same thing as us. They are on these campuses. 'The national debt is a real problem,' says the group's leader. Hopefully they'll continue their work." Nothing of actual substance. And at the end of each chapter comes a set of "solutions," offering nothing we haven't heard before. "Congress needs to begin making realistic decisions," "Leaders must be held accountable," etc.
Maybe the movie is better, but all in all, I wish I hadn't bought this.

13 of 16 people found the following review helpful:

2.0 out of 5 stars Buy it after you have seen the movie, November 10, 2008

By 

S. Hall (Seward, Alaska) - See all my reviews
(REAL NAME)   

This review is from: I.O.U.S.A.: One Nation. Under Stress. In Debt. (Paperback)

It appears that this book was released as a companion to the movie/DVD of the same name. Problem is, the DVD has not been released; you can only see it if you attend film festivals or ferret out some limited viewing in a few cities. And it is not a substitute for the film, like reading a novel and then comparing it to the movie; rather, this is a support piece to the DVD itself.
The first 90 pages are an excellent introduction to, and summary of, an enormous problem that our country is facing, namely monstrous deficits and debt; I would give it 5 stars if the first half was the whole book - -perhaps a little 90-page book that cost [...].
But the second half of the book, the "complete" interviews of the folks featured in the movie, leaves me wondering if there is even any hope of ever agreeing on solutions, since it seems they all have different opinions on cause and effect, who is responsible for what, and where we might go from here. (The book came out before the recent financial collapse; so the opinions of some seem completely off-base.)
Anyway, I rate the second half of the book one star, giving the book an overall (generous) rating of two and a half stars. Perhaps my opinion will improve once I am able to see the movie and can then put the interviews in context; but it really seems like they should have released the DVD before the book; or, at least the book and DVD as a "combo" package. See the movie first; if you like it, buy this book.

16 of 21 people found the following review helpful:

5.0 out of 5 stars Great intro to the debt crisis, October 11, 2008

By 

Adam Sharp - See all my reviews
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This review is from: I.O.U.S.A.: One Nation. Under Stress. In Debt. (Paperback)

Enlightening. I bought the book after seeing the movie. Both helped me understand parts of the debt crisis that I didn't fully get before. Some of the dangers it warns against seem to be unfolding now.

I've developed a far more skeptical attitude towards the stock market recently, largely because of IOUSA. This skepticism has helped me dodge some of the recent equity losses. I realize this is extremely short-term, but at least I'm aware of the arguments opposing Wall St's continual bull-pumping. The traditional mentality of "don't sell now, it's the best time to buy" is incredibly ingrained in our society. People forget that on occasion there are extended periods of time that are really really bad to invest in equity markets.

This book (and the movie it's based on) helped me realize these things.