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TIME-BOMB: America's Debt Crises, Causes, Consequences and Solutions
TIME-BOMB is a powerful new documentary that puts the spotlight on America's exploding national debt and the fact that our leaders are risking our economic future through shortsighted fiscal policies. With each passing day that we do nothing to address our twin deficits, we increase the chances that we will soon be facing an economic crisis of major proportions. TIME-BOMB shows why the hard-earned assets of all Americans are at risk and, on a more profound, level shows why Democracy itself is threatened. The movie features interviews with citizens who have had the courage speak out truthfully about these issues including: * Senator Warren Rudman, Co-author, Graham-Rudman-Hollings Deficit Reduction Act * George Soros: Financier, Philanthropist, Author: The Bubble of American Supremacy * Peter G. Peterson, Chairman, The Blackstone Group, Author: Running on Empty * Lawrence Kotlikoff: Chairman, The Economics Department, Boston University * Kenneth Rogoff: Harvard Economics Professor and Ex-Chief of Research, IMF * Steven Rattner: Principal, The Quadrangle Group, Ex- New York Times Reporter * Benjamin Friedman: Harvard Economics Professor, Author: Day of Reckoning * Ben Cohen: Co-founder: Ben and Jerry's Ice Cream and TrueMajority.com * Senator Robert Byrd: Member Senate Budget and Foreign Relations Committees and numerous ordinary citizens recorded in spontaneous on the street interviews.
TIME-BOMB is a remarkable film not only because it offers a penetrating analysis of perhaps the most dangerous threat facing America, but also because it does it in a thoroughly engrossing and entertaining manner. TIME-BOMB takes the Michael Moore genre and applies it to the spheres of economics and political science with a delicate blend of humor, musical parody and serious inquiry.
TIME-BOMB exposes George W. Bush's faith-based, supply side economics for what it is: nothing more than pie-in-the-sky wishful thinking. It shows how George Bush squandered a $5 trillion government surplus and now runs record deficits in one of the greatest miscalculations in human history. While George Bush has framed America's future in terms of the possible threats of terrorist attacks, he has virtually ignored the mounting threat of our looming fiscal crisis. Here a distinguished array of economic experts, activists, statesmen and business executives show why that threat is more real to our nation than most of us would have dared imagine.
America ignores the message of TIME-BOMB at its peril. Unless we address our "twin deficits" soon, the American economy will be falling like the towers of the World Trade Center, and no one will be remember why the war on terrorism seemed so important. After seeing this movie, you suddenly realize that there is no escaping the fact that America is moving ahead full-throttle towards an economic crisis of major proportions. And somehow we seem blissfully unaware that anything of this nature awaits us.
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Just to give an example of the annoying features, an economist will say something like, the deficit is a huge problem that no one in congress wants to deal with, like an "an elephant in the living room", and then a still picture of an elephant will transition in, in case the viewer forgets what an elephant looks like. Another example is a computer graphic of a bomb exploding.. this is played after every segment, dozens of times, making me sick.
The video is littered with all these kinds of amateurish graphics and pictures that add nothing, and possible detract from what's being said... its as if the film maker picked up a copy of Premiere a week ago and went nuts with silly editing and transitions.
Its a shame because I really wanted a dvd that I could lend to friends about this topic. There is at least one other dvd out there that presents this subject matter, in a **MUCH** better way:
"60 Minutes - Wake Up Call (March 4, 2007)"
originally aired on 60 Minutes, but now sold here on Amazon. Its a bit pricey for this 12 minute segment, although you can probably find this "Dirty Little Secret" clip on youtube or the like.
a) How the US has transitioned from a creditor nation to a debtor nation, and how history has not been kind to the debtors
b) The risk of hyperinflation
c) cooking the books - Accounting fraud committed by the US government
d) Wealth is created by savings and investment, not spending (it's pathetic that this even has to be covered, but look at the state of affairs today)
e) How future generations will see their payroll taxes DOUBLE if nothing is done
f) Derivatives: legalized fraud (too bad nobody listened...)
g) The Founding Father's opinions on debt
f) The only realistic solutions are increasing taxes or cutting spending (and I know how government will only waste the money it gets from tax increases, so really there's only 1 realistic solution).
You hear from the man on the street, major economists, and government big wigs. Bottom line - excellent documentary. Wish I had seen it sooner
this movie is incredibly boring and the graphics really get in the way. god, this thing was bad.