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Friday, October 31, 2008

Too big to fail?

Posted By on Fri, Oct 31, 2008 at 7:20 PM

Whether you can't get enough frights this weekend or you want something to sober you up on Sunday, try watching I.O.U.S.A. It's the story of our national debt. When the film was set for August release, the scary number was $9.5 trillion. But that was nothing. Now that Wall Street has melted down and $700 bailouts are bandied about as if that money was just sitting in the bank waiting for a rainy day, the debt has risen to $10.5 trillion as of Halloween. Actually that money is sitting in a bank ... somewhere else in the world. The United States government borrows more than 20 cents of every dollar it spends. Simply put, that's not sustainable. Interest on the debt accrues at a rate of almost $4 billion per day. This Sundance Film Festival selection examines the debt, how government fails to confront the problem and how disinterested the public is in the issue. The screening is at 5 p.m. Sunday, Nov. 2, at Zeitgeist Multi-Disciplinary Arts Center. 


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