'Wordplay' team documents debt

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Patrick Creadon and Christine O'Malley, the filmmakers behind the hit documentary "Wordplay," are leaving the world of crossword puzzles to examine the expansive topic of the U.S. federal debt.

The husband-and-wife writing-directing-producing team will partner with indie production company Open Sky Entertainment to create a new feature-length documentary exploring the growing federal debt and its implications for the country's future.

"This film presents challenges similar to the ones we met when we made 'Wordplay,' " said O'Malley, whose 2006 Sundance debut went on to earn $3.1 million at the domestic boxoffice. "Our hope is that we can again take a potentially dry story and make it cinematic, revealing and entertaining."

The film will be based loosely on the writings of Bill Bonner, Addison Wiggin and Kate Incontrera, editors of the financial newsletter "The Daily Reckoning." Creadon will write and direct the new documentary, and O'Malley will co-write and produce. Open Sky Entertainment co-founders Glenn Garland and Christopher Duddy will produce. Wiggin of Agora Financial Llc. and Jon Carnes of the One Horizon Foundation will serve as executive producers.

Open Sky Entertainment's Sarah Gibson also will serve as a producer of the new documentary. Her previous documentary "Small Town Gay Bar" also premiered at the 2006 Sundance Film Festival.

The filmmakers are putting together a nonpartisan advisory committee of government and business leaders to advise on the film. They plan to begin shooting immediately with hopes of a 2008 release.

"America's federal debt is $8.6 trillion and growing at a frightening pace," Creadon said. "In addition, our major entitlement programs (Social Security, Medicare and Medicaid) are dangerously unfunded. As a country, we are slowly spending ourselves to death."
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