Book 51

I.O.U.S.A. One Nation. Under Stress. In Debt. by Addison Wiggin and Kate Incontrera

Type: Nonfiction, Business & Investing

My rating: 3 stars (out of 5)

Why I chose it: I first heard about the documentary of the same name. This book was written after the movie was made. I understand the movie was originally based on the book, Empire of Debt by Bill Bonner.

What I liked about it: The book is split into two sections. The first explains the problems that our nation is in. The second is a collection of interviews with various businessmen, government officials, and others who were featured in the movie. The book supposedly expands on the documentary by highlighting America’s four serious deficits: budget, personal savings, trade, and leadership. At the time the book was released in September 2008 the national debt was $9.6 Trillion. Today, just 15 months later, the national debt is $12.0 Trillion. And that does not include the unfunded Medicare and Social Security obligations. If you include those programs, the total national debt stands at over $54 Trillion...and it grows daily.

You can watch a 30-minute summary version of the documentary here.