I.O.U. - Some Answers

We had a standing-room crowd at the I.O.U.S.A. premiere in Raleigh, North Carolina this evening. Two auditoriums were sold out -- both the one sponsored by our campaign, as well as the regular showing. The movie provided an excellent overview of the "fiscal cancer" that David Walker, former head of the Government Accountability Office (GAO), has been courageously discussing for the past several years. The discussion about addressing these issues, however, is just beginning -- and will be much more controversial.

After the movie, we watched a live Town Hall discussion from Omaha, Nebraska, moderated by CNBC's Becky Quick and featuring panelists Warren Buffett, CEO of Berkshire Hathaway; William Niskanen, chairman of the Cato Institute; Bill Novelli, CEO of AARP; Pete Peterson, senior chairman of The Blackstone Group and chairman of the Peter G. Peterson Foundation; and Dave Walker, president & CEO of the Peter G. Peterson Foundation and former U.S. Comptroller General.

The best part about the event is that we had a solidly bipartisan crowd. As such, there was room for everyone to be offended: For example, some Republicans were offended that the Clinton years were painted with such a glowing brush, as spending restraint coupled with a growing economy caused the federal debt to decrease for a change. Some Democrats were offended by the movie's downplaying the effects of allowing the Bush tax cuts to expire -- such a step will only deal with 10% of our fiscal hole.

There is, however, bipartisan agreement on two critical points:

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