Archive | October, 2009

Reuters – Editor’s Choice Photo of the Day

Posted on 29 October 2009

Defeat the Debt Uncle Sam Begging Reuters

James Bowers, dressed as Uncle Sam, asks people if they can “spare a trillion”, as they walk past him outside the front of Federal Hall, near the New York Stock Exchange, October 28, 2009. REUTERS/Chip East

[Reuters]

Multi-Million Dollar Campaign to Defeat the Debt Continues with 17 Homeless Uncle Sams Begging for $12 Trillion on the Streets of New York City

Posted on 28 October 2009

WASHINGTON — Today (10/28) the Employment Policies Institute (EPI) will continue its high-profile, multi-million dollar ad campaign highlighting the threat posed by unsustainable borrowing and spending. The campaign comes amidst reports that the Senate will soon be forced to raise the debt ceiling in the face of unprecedented deficit spending. The current debt is $11.9 trillion, dangerously close to the $12.1 trillion debt ceiling. That is why EPI is stationing 17 destitute Uncle Sams across New York City today to beg for $12 trillion from taxpayers.

The campaign also includes a national television commercial, which has aired on CNN, Fox News, and CNBC. EPI has also recently launched a new website, DefeatTheDebt.com, devoted to educating the public about the enormous federal debt.

Additionally, a full-page ad is running in am New York today. The ad features a downtrodden Uncle Sam holding a sign saying, “I Want YOU to Give Me $12 Trillion.” The text of the ad reads:

The United States government owes more debt than any other nation in the world: $11.9 trillion. We spend almost $500 million on interest payments every day. Much of it to foreign banks and governments. The White House predicts that by 2019 we will spend moretax dollars for interest on the debt than for our national defense.

“This campaign is all about getting people to understand the frightening reality of the massive federal debt,” said EPI Executive Director Richard Berman. “People do not realize just how much 12 trillion dollars is, and what it will take for our country to get out from under that level of debt. Americans also aren’t aware of how much money we now owe to foreign governments and just how unsustainable our current level of spending is. We have to do something to defeat the debt now, or we will live to regret it.”

Debt-Riddled Uncle Sam is available for interviews. To schedule an interview or to get a complete list of where all the Uncle Sams will be stationed, call Allyson Funk at 202.463.7650.

The Employment Policies Institute is a nonprofit research organization dedicated to studying public policy issues that affect the American economy.

The Economist – Of debt and deadbeats

Posted on 08 October 2009

A new culture war is brewing over capitalism

Defeat the Debt Uncle Sam Begging Economist

SEVENTEEN Uncle Sams were seen begging on the streets of Washington, DC, this week. They were a sad sight, with their slightly bedraggled red, white and blue hats and their cardboard signs with the hand-scrawled plea: “I want YOU to give me $12 trillion.” It was a publicity stunt, of course, staged by DefeatTheDebt.com, a fiscally hawkish pressure group. But it captured something important about the national mood.

Unemployment is nearly in double digits. Most Americans think the economy will recover next year, but only 2% think it will make a complete recovery. And many are worried about Uncle Sam’s ongoing borrowing binge. Has all that money averted disaster and eased the pain of the recession, as Barack Obama insists? Or did it merely postpone the pain? DefeatTheDebt.com’s television commercials leave no room for doubt. A classroom full of children stand as if to recite the pledge of allegiance, but the words are different: “I pledge allegiance to America’s debt, and to the Chinese government that lends us money, and to the interest, for which we pay, compoundable, with higher taxes and lower pay, until the day we die.”

[Economist]

Roll Call – Heard on the Hill

Posted on 07 October 2009

Panhandling Patriot: When Uncle Sam came to town on Tuesday, he looked a little down on his luck.

Dressed as a shabby Uncle Sam, J. Justin Wilson of Employment Policies Institute asks passers-by on North Capitol Street for $12 trillion to pay off the national debt.

The brim of his famous stars-and-stripes top hat was torn. His patriotic suit was dirty and filled with holes, as were his black dress shoes. Sam even carried a cardboard sign reading: “I Want You To Give Me $12 Trillion.”

[Roll Call]

Multi-Million Dollar Campaign to Defeat the Debt Continues with 17 Homeless Uncle Sams Begging for $12 Trillion on the Streets of Washington, D.C.

Posted on 06 October 2009

WASHINGTON — Today the Employment Policies Institute (EPI) is launching “stage 2” of a high-profile, multi-million dollar ad campaign highlighting the threat posed by unsustainable borrowing and spending. The campaign comes amidst reports that the Senate will soon be forced to raise the debt ceiling in the face of unprecedented deficit spending. The current debt is $11.9 trillion, dangerously close to the $12.1 trillion debt ceiling. That is why EPI is stationing 17 destitute Uncle Sams across the city today to beg for $12 trillion from taxpayers.

The campaign also includes a national television commercial, which is currently airing on CNN, Fox News, and CNBC. The ad also ran on Meet the Press last Sunday morning. EPI also launched a new website, DefeatTheDebt.com, devoted to educating the public about the enormous federal debt.

Additionally, a full-page ad is running in the Wall Street Journal today. The ad features a downtrodden Uncle Sam holding a sign saying, “I Want YOU to Give Me $12 Trillion.” The text of the ad reads:

The United States government owes more debt than any other nation in the world: $11.9 trillion. We spend almost $500 million on interest payments every day. Much of it to foreign banks and governments. The White House predicts that by 2019 we will spend more tax dollars for interest on the debt than for our national defense.

The national television commercial begins with students standing in a classroom as if to recite the Pledge of Allegiance. Instead they say:

I pledge allegiance to America’s debt…and to the Chinese government that lends us money… And to the interest…for which we pay…compoundable…with higher taxes…and lower pay… until the day we die.

“This campaign is all about getting people to understand the frightening reality of the massive federal debt,” said EPI Executive Director Richard Berman. “People do not realize just how much 12 trillion dollars is, and what it will take for our country to get out from under that level of debt. Americans also aren’t aware of how much money we now owe to foreign governments and just how unsustainable our current level of spending is. We have to do something to defeat the debt now, or we will live to regret it.”

Debt-Riddled Uncle Sam is available for interviews. To schedule an interview or to get a complete list of where all the Uncle Sams will be stationed, call Allyson Funk at 202.463.7650.

The Employment Policies Institute is a nonprofit research organization dedicated to studying public policy issues that affect the American economy. For additional information or to schedule an interview with a spokesperson call 202.463.7650.

Defeat the Debt promoted on the floor of the U.S. House of Representatives

Posted on 01 October 2009