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Group; Congressman Ron Paul (R-Texas); and bestselling Empire of Debt author Bill Bonner.Armed with these interviews, historical references, and damning statistics, the book takes a lively and entertaining romp through the four deficits the nation faces: the budget deficit, the personal savings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.
I really enjoyed this book. It has five chapters:
- The Real State of the Union
- The Budget Deficit
- The Savings Deficit
- The Trade Deficit
- The Leadership Deficit
Then the second half is composed of interviews. This book really helped me to better understand the national deficit and how important it is for us to address the issue.
My personal beliefs are that we need to cut back on social safety nets like Social Security and Medicare. The people of America are the most generous people in the world. I believe that we don't need the government to take care of us. I believe that people will look out for their neighbors and their families and their friends. We the people don't need big government programs to do that for us.
No matter how you feel, something needs to be done about the deficit. We cannot keep spending more money than we have. Sooner or later it will come back to haunt us. The authors recommended "Empire of Debt" by William Bonner and Addison Wiggin. I plan on reading that soon.