I.O.U.S.A.

00:00:15 I would argue that the most serious threat to the United States

00:03:21 And he's not a lump.

00:05:51 I'm Robert Bixby, the executive director of the Concord Coalition.

00:08:44 How can this be happening to the richest country in the world?

00:12:06 America was becoming addicted to debt.

00:15:19 Which is quite a bit money.

00:18:59 The spending for those programs under current rules will rise very rapidly over the next few years

00:21:21 I mean, this situation is comparable to my parents incurring serious credit card debt

00:24:08 And I'm sure we'll get some moderate play in the news

00:27:19 This is why I developed this unique program managing your debt.

00:29:43 Who have more leverage on us. We have less leverage on them.

00:32:15 This is a very serious problem

00:35:07 And he had to take truly courageous action and he did.

00:38:22 My only child is a college graduate

00:40:40 And he's nuts! They are nuts!

00:43:05 If you ordered now, you'll also receive "Seriously, if you don't have the money, don't buy it"

00:46:08 But at some point I max out.

00:48:59 Our low personal savings rate and large trade deficits

00:54:05 We're giving it to China, to India, to all the other nations of the world to produce our goods

00:58:12 Does that give American president the flexibility to make foreign policy decisions

01:03:24 that's reserved for the secretary of the Treasury

01:06:25 American people don't have any money in this government

01:09:53 As the baby-boomer retire in large numbers, this tidal wave of spending will reach our shores

01:13:25 I think that there was tremendous opportunity whoever is the next president