‘I.O.U.S.A.’: In debt we trust
G. Allen Johnson
Thursday, August 21, 2008

The most important issue in the forthcoming presidential election, according to many experts, is not one that John McCain or Barack Obama is willing to discuss.

It’s our national debt.

Don’t start snoozing yet. “I.O.U.S.A.” might be the most must-see movie out there, if only because it is constantly evolving.

Director Patrick Creadon, who turned crossword puzzles into a compelling subject for a movie in “Wordplay,” has been tinkering with his new film since its premiere at Sundance, revamping all the graphics and scoring new interviews with former Federal Reserve chairs Alan Greenspan and Paul Volcker.

“They’re dancing around the issue,” Creadon said of McCain and Obama by telephone from Los Angeles, where he lives with his wife and three children. “It’s disappointing because it’s the biggest issue of the election. … It’s a bad issue for any candidate because the solution involves higher tax revenue and lower spending.”

In a unique twist, tonight there will be a town hall meeting, beamed via satellite from Omaha, Neb., to hundreds of theaters across the country (including 13 in the Bay Area) after a screening of the movie. The panel includes billionaire financier Warren Buffet and former U.S. comptroller Dave Walker, who appear in the film.

The movie itself is surprisingly engaging, at times humorous and colorful, despite a message that could be taken as gloom and doom.

Creadon says he went to great lengths not to make a partisan film – whether you’re a tax-and-spend Democrat or an anti-big-government Republican, the idea is to be fiscally responsible.

“Lower taxes is fine – if your spending is also low,” Creadon said.

Care to guess the number of balanced budgets in the past 40 years that didn’t depend on dipping into a surplus fund (such as Social Security)? One.

“The American voter tends to vote for fiscally irresponsible candidates,” Creadon said. “And guess what? That’s what they’ve got. We have the government we elected. I don’t think people understand the issue.”

Screening and town hall meeting (via satellite) at 13 Bay Area theaters tonight. Go to www.fathomevents.com, select “I.O.U.S.A” and enter your zip code. Opens Fri.

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