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Wake up, America! We're on the brink of a financial meltdown.
I.O.U.S.A. boldly examines the rapidly growing national debt and its consequences for the United States and its citizens. 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. Wielding candid interviews with both average American taxpayers and government officials, Sundance veteran Patrick Creadon (Wordplay) helps demystify the nation's financial practices and policies. The film follows former U.S. Comptroller General David Walker as he crisscrosses the country explaining America's unsustainable fiscal policies to its citizens.
With surgical precision, Creadon interweaves archival footage and economic data to paint a vivid and alarming profile of America's current economic situation. The ultimate power of I.O.U.S.A. is that the film moves beyond doomsday rhetoric to proffer potential financial scenarios and propose solutions about how we can recreate a fiscally sound nation for future generations.
Creadon uses candid interviews and his featured subjects include Warren Buffett, Alan Greenspan, Paul O'Neill, Robert Rubin, and Paul Volcker, along with the Peter G. Peterson Foundation's own David Walker and Bob Bixby of the Concord Coalition, a Foundation grantee.
Pointedly topical and consummately nonpartisan, I.O.U.S.A. drives home the message that the only time for America's financial future is now.
 I.O.U.S.A. will accompany the new feature-length documentary based on the writings of Addison Wiggin and Bill Bonner. According to filmmaker Patrick Creadon, "America's federal debt is $8.6 trillion and growing at a frightening rate. In addition, our major entitlement programs (Social Security, Medicare and Medicaid) are dangerously unfunded. As a country, we are slowly spending ourselves to death."
Christine O'Malley (Producer) was born in Manhattan and raised outside of Chicago. She studied film and video production at Columbia College, Chicago. In 1995 she moved to Los Angeles and, after a brief stint working on feature films in the Art Department, switched to non-fiction production. Her first job in this capacity was as a researcher at Van Ness Films on several A&E Biographies. Later she teamed with Producer/Director Scott Goldstein where she produced several critically acclaimed documentaries for the Museum of Tolerance. In 2004 Christine served as Associate Producer on the Academy Award nominated documentary film Enron: The Smartest Guys In The Room.
Wordplay, the first feature length film she has produced through her production company O'Malley Creadon Productions, was a breakout hit at the 2006 Sundance Film Festival and went on to become the second-highest grossing documentary of 2006. Wordplay was nominated for both a Critics' Choice Award and a National Board of Review Award for "Best Documentary of 2006."
I.O.U.S.A., Creadon and O'Malley’s second documentary, had its World Premiere at the 2008 Sundance Film Festival in the American Documentary Competition. The film examines America's current financial situation and explores ways to avoid a financial breakdown for the country. Kenneth Turan of the Los Angeles Times called it "the most unexpectedly frightening film at Sundance."
Patrick Creadon (Director) was born in Chicago and is a 1989 graduate of the University of Notre Dame. He began his career as one of the youngest cameramen in the history of PBS, shooting and producing cinema-verite style stories for the critically acclaimed series "THE 90's". He earned his Master's Degree in Cinematography at the American Film Institute, where his thesis film (on which he served as Director of Photography) was nominated for a student Academy Award. As a cameraman his work has appeared on every major network, including NBC, CBS, ABC, MTV, VH1, and ESPN. He has also done work for Paramount Pictures, Warner Brothers, Sony, Universal Studios, and Disney.
Wordplay, Creadon’s feature-length directorial debut, is a documentary film about The New York Times crossword editor and National Public Radio personality Will Shortz. Wordplay became only the fourth documentary ever to be awarded the "Golden Tomato" from Rottentomatoes.com for "Best Reviewed Documentary of The Year." Previous winners of this award were Spellbound, Supersize Me and March Of The Penguins.
Christine O'Malley and Patrick Creadon are married and have three young daughters. They currently live in Los Feliz, CA.
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