I.O.U.S.Aby Addison Wiggin, David Walker, Kate Incontrera
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, this 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/i>
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I. O. U. S. A. based on 0 ratings. 3 reviews.
Every American should read this book. It is a very clear exposition of the country's financial condition and of what's behind it. If, when you read this book, you find that it is describing an all-too-familiar situation, that is because many of us are in a similar condition, and for similar reasons. You'll see the current "stimulus" efforts in a new way, and perhaps wonder what it is we ought to be stimulating. When you're through reading the book, send it to your favorite federal official!
I.O.U.S.A. is the follow-on to Wiggin's best-selling Empire of Debt. It focuses a lot on the stories of people in the previous book who are tasked with making decisions regarding the four deficits our country faces: trade deficit, savings deficit, federal deficit, and the aptly-named leadership deficit. To give you a feel for some of the folks he talked to for the book, it's the likes of: Warren Buffet, Robert Rubin, Alice Rivlin, Pete Peterson, David Walker, Paul O'Neill, James Areddy, and Bill Bonner.
With America's federal debt at $8.6 trillion and growing, it's important to understand how this will impact the countries future, including entitlement programs we've grown to rely on, like Social Security and Medicare. The book isn't perfect, but it looks at a topic that every American will benefit from increasing his or her familiarity with.
Another book I recommend strongly because it is superb and has helped me immensely in keeping my own, errr, "deficits" under control is The Emotional Intelligence Quick Book.