When Hurricane Katrina ravaged America's Gulf Coast, it laid bare an uncomfortable reality-America is not only far from the world's wealthiest nation; it is crumbling beneath a staggering ... See full summary »
Heist: Who Stole the American Dream? reveals how American corporations orchestrated the dismantling of middle-class prosperity through rampant deregulation, the outsourcing of jobs, and tax... See full summary »
Wall Street is being occupied. Europe is collapsing in on itself. Around the world, people are consumed by fear and anger, and one question is on everyone's lips: Is the financial crisis ... See full summary »
G. Edward Griffin,
Linguist, intellectual and activist, Noam Chomsky discusses and reflects on the state of world events including the War in Iraq, September 11th, the War on Terror, Media Manipulation and ... See full summary »
Throughout history, criminal elements inside governments have carried out terror attacks against their own populations as a pretext to enslave them. TerrorStorm reveals how, in the last ... See full summary »
Debtocracy seeks the causes of the Greek debt crisis and proposes solutions sidelined by the government and the dominant media. It follows countries like Ecuador that created debt Audit Commissions and tracks this process in Greece.
I.O.U.S.A. examines the rapidly growing national debt and its consequences for the United States and its citizens. As the Baby Boomer generation prepares to retire, will there even be any Social Security benefits left to collect? Burdened with an ever-expanding government and military, increased international competition, overextended entitlement programs, and debts to foreign countries that are becoming impossible to honor, America must mend its spendthrift ways or face an economic disaster of epic proportions. Throughout history, the American government has found it nearly impossible to spend only what has been raised through taxes. The film blends interviews with both average American taxpayers and government officials to demystify the nation's financial practices and policies. The film follows U.S. Comptroller General David Walker as he crisscrosses the country explaining America's unsustainable fiscal policies to its citizens. The film interweaves archival footage and economic ... Written by
The subject of estimated unfunded liabilities of the Federal Government did not originally come from David M. Walker, the former head of the GAO. Dr. Lawrence J. Kotlikoff and Scott Burns wrote a book on this subject much earlier (Lawrence J. Kotlikoff and Scott Burns, "The Coming Generational Storm, What You Need to Know about America's Economic Future," MIT Press, Cambridge, MA, 2004).
In this book, Dr. Kotlikoff also states that in 2002 Paul O'Neill, George W. Bush's first Secretary of the Treasury, had asked Dr. Kent Smetters to use generational accounting to estimate the unfunded liabilities of the U.S. Government in the future, which was then done with a Dr. Gokhale. The report had been included the 2004 Budget. However, when the White House (i.e. Bush, Cheney, and their cohorts) found out about this, they removed the study from the 2004 Budge and fired Sec. O'Neill.
The publicity that David M. Walker has been getting for himself by talking about this very serious problem has helped bring it to the light of the TV talking heads and the makers of this movie, but Drs. Kotlikoff, Smetters, Gokhale, and others are not getting the credit that they deserve, which I consider a serious injustice. If this were being conducted in peer reviewed journals, it might be considered to be on the verge of professional misconduct.
If I were an adviser for Barak Obama (which I am not) or John McCain (which I am not), I would recommend Drs. Kotlikoff and O'Neill to be senior Economic Advisors to the President and/or Secretary of Treasury or both. Everyone that wants to know more should read Kotlikoff's book or its most recent update (if there is one)
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