Peter Peterson, co-founder of the Blackstone Group, plans to spend $1BILLION to alert Americans to the very real danger of the increasing debt burden according to an article in the NY Times National section on July 14, 2008. Part of his strategy is the documentary film “I.O.U.S.A”. He “wants people to focus on what he considers real news: the nation is going broke. (…) The film aims to startle voters and politicians alike, and summon them to the task of closing the long-term imbalance between what the government will take in and what it has promised to pay out.”
The Website of his foundation (www.pgpf.org) foundation maintains that “every American is now burdened, most of them unknowingly, with $175,000 with federal liabilities and unfunded government promises.”