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Friday, November 21, 2008

I.O.U.S.A. on Oscar Shortlist, National Debt on Twitter, and more

A chance to expose how extremely in debt our country is.

---------- Forwarded message ----------
From: Peter G. Peterson Foundation <>
Date: Thu, Nov 20, 2008 at 11:15 PM
Subject: I.O.U.S.A. on Oscar Shortlist, National Debt on Twitter, and more

IOUSA - Peter G. Peterson Foundation

In This Newsletter
I.O.U.S.A. Makes Academy Award Short List | Follow the Debt on Twitter
David Walker Roll Call Special | The Government We Deserve

I.O.U.S.A. Makes Oscars Short List
For Best Documentary Feature

We're proud to announce that our critically acclaimed film I.O.U.S.A. has just received another honor - and with it, the film is now a step closer to earning one of the highest awards a documentary can receive.

I.O.U.S.A. is officially on the short list for an Oscar nomination in the Best Documentary Feature category. The film, directed by Sundance veteran Patrick Creadon (Wordplay), is among the 15 documentary features that will now advance in the voting process designating the final five nominees for next year's Academy Awards.

An Academy Award nomination would be more than just an honor for I.O.U.S.A. With the audience that the broadcast attracts - more than 30 million for last year's ceremony alone - an Oscar nomination would be another chance to show the entire nation just how alarming our current economic situation really is.

Watch I.O.U.S.A.
Watch I.O.U.S.A.: Byte-Sized - The 30 Minute Version of I.O.U.S.A.

So continue spreading the word about I.O.U.S.A., and then watch to see if the film earns a coveted position as one of the final five nominees.

The Academy Awards nominations will be announced on Thursday, January 22, 2009. The 81st Academy Awards for outstanding film achievements of 2008 will be presented on Sunday, February 22, 2009.

For more information about I.O.U.S.A., or to view our 30-minute "byte-sized" version of the film online for free, visit

National Debt Clock Ran Out of Digits
Now Follow the National Debt on Twitter.

In October, the National Debt Clock in New York City ran out of digits because of the escalating fiscal burden on our government. The clock serves as a reminder to everyone who passes that the government owes more to the public (in the form of Treasury bills and savings bonds), and more to itself (in the form of money it borrows from one pot to spend on another) with each passing single day. The Peter G. Peterson Foundation has found a way for everyone to follow the debt using Twitter at

Twitter What is Twitter? Twitter is one of the newest social networking services through which each user answers the question "What are you doing?" using 140 characters or less.

The answer to that question is known as a "tweet," and it's visible by those who "follow" you. By "following" others, you'll get their latest updates. It's free, easy to use, and by "following" the national debt on Twitter, you'll receive a daily "tweet" of the national debt as reported by the Treasury Department. Although this official number is the most commonly-cited national debt, it doesn't scratch the surface of the actual federal fiscal burden. Click here to learn more.

Visit to start following the national debt today, and whether or not you're on Twitter please help spread the word!

Congress, New President Must
Put Our Fiscal House in Order

By David Walker, Special to Roll Call

Great challenges can bring great opportunities, and the current economic crisis is no different. As President-elect Barack Obama considers how best to turn the economy around, he needs to focus not only on today, but also on how to return the country to a more fiscally responsible and sustainable path over time.

Our nation's short-term budget deficits will unavoidably get worse before they get better, due in large part to the current recession, recent and future "bailout packages," and a likely dose of additional economic stimulus that hopefully will be targeted, temporary, and reasonably sized and structured.

As a result, Obama will need to juggle competing demands in a much tougher budget environment than he and his economic team anticipated during the campaign.


David Walker is the President and CEO of the Peter G. Peterson Foundation, and served as the United States Comptroller General and head of the General Accountability Office (GAO) from 1998 to 2008. You can read David's bio here.

The Government We Deserve

By Gene Steuerle

At last the election is over. Yet there is no rest for the weary. Not two hours passed before President-elect Obama was being called upon to act. Many demand that he immediately propose reforms to their favorite programs, especially those he supported during the campaign. Yet the most dangerous thing he can do at this point is to jump into making individual, one-off policy decisions, especially before he's got a full budget picture of how everything adds together - not just for this year, but for the eight years he hopes to be President.


Gene Steuerle writes The Government We Deserve column regularly, and serves as the Vice President of the Peter G. Peterson Foundation. You can read Gene's bio here.

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