DROWNING In DEBT; Why Gen Z Can't Afford To Make Ends Meet 

Hahahaha , not alone !

They forgot to mention the $50k + of student loan debt

$2000 is drowning in debt when their money is spent every month from rent, car payments, food, utilities, etc. Unless you're living in your moms basement or dad's mancave.

Right but the joke is if $2,000 is drowning then those of us who might have $20,000 for example must already be six feet under. 😅 ​@@AKAAAK

Same. ☠🪦🥀

My friend who has not held a real job in the last 70 years pays 1/3 of his income for rent. All of his income is welfare payments from the government. That is why he gets a beautiful large apartment for $300 a month.

Hardly. I own my own home and I also have 6 rental properties. I still don’t consider even that rich.

@@Therearealwayshiddenagendas - 6 rental properties, sounds like you are rich in maintenance problems.

@@jrstf nah. The cash flow from the rent covers everything with plenty left

@@Therearealwayshiddenagendas he means its a lot of head ache.

It not just the presidency at all. Congress is to blame

Orange Jesus won't make anything better.

​@@meganharris583 Wrong. He has vero power. Didn't use it. Signed the spending bills.

​@@TraderByDayorange Jesus had a great economy. Because of his policies. Joe Biden came in on day one and single handedly ruined the economy. Along with 2 stimulus checks that weren't needed and passed by Dems alone.

Actually it was much better when he was president. Just look at grocery prices. ​@@TraderByDay

Humanity (and governments) require subsistence economies. If the citizens are satisfied and complacent, there is no impetus to do the jobs that no one wants to do. Instead of attacking and taxing the wealthy more, remove the incentive for excessive wealth by removing luxury goods and build modest housing. The Ponzi scheme of inflationary economies is the throttling of resources (material, laborial and financial).

Not really, that's when people start revolutions. When they have nothing left to lose

Seriously, she deserves her own show. The hill better try their hardest to hang on to her.

Why do people whine so much about the Ukraine money? It's literally a rounding error compared to social security and Medicare. We are literally spending close to $1 TRILLION on interest this year and you're sitting here complaining about pennies being used to try to slow down our top geopolitical enemy.

​​@@nicolasgirard2808Those programs actually help American taxpayers Ucranie aid is money laundering She does like different every episode

​@@nicolasgirard2808you're pointing out a relative problem. Which is dumb. 97 Billion can go a long way to address domestic problems.

@@kamman1374 it's a trivial amount of money and wouldn't make any significant difference. We are currently in a $1.7 trillion annual deficit. If anything we should be giving more money to Ukraine given how expensive it will be if we don't stop russia now.

@@nicolasgirard2808 Part of the reason for the massive inflation is the war, what are you talking about? Get to a peace agreement even if it means Ukraine has to make big concessions, it’s not the US’ problem to begin with. Same with the other war and as well as the overall defense spending. I agree with you on Medicare as well. Tackle all those items and we’re on a good path.

Is not just that, these kids need them just to make ends meet. Rent costs are outrageous.

To be fair, Trump handed Biden a huge mess

@@jackeagleeye3453I don’t know about you, but I had much more money in my pockets during Trump era.

​@@JohnK.-cj2nqdid he line ur pocket during his last year of his term when covid hit?

@@luismedrano6680 I didn’t even receive a stimulus check as my income is in the 1%. But interest rates, taxes, stock market, and other economic indicators were much, much better.

@@jackeagleeye3453stop deflecting. Biden has been the worst president in modern history, possibly the history of the entire country.

They do, my classmates just don’t care.

I am minimum wage, 1,000 every two weeks... minus 150 for taxes. Then 7% sales taxes on anything I buy. Health insurance is 400 a month, but if I made 500 less I would qualify for a 100 a month financial aid, plus food stamps because the government admits that people cannot afford food.

Yeah, but those poor investors and corporations are just trying to get by! You have no idea how much a Unicat costs these days!

Yeah but if you lose money on an investment, the government doesn't cover any of your loss. It's a "heads I win, tails you lose" scenario. Also, investing money is a strategy for beating inflation, and inflation is a kind of hidden tax which is caused by government overspending. There are a lot of issues that I'm sure we could agree on, but just adding more taxes is not a great answer for taxpayers.

@@gbh_events Agreed. Because the government purposely devalues the money you save every year, you can't just save your money. So you basically have to invest it.

That is to offset the risk of investing.

I definitely agree. 60k seems extremely high for graduates coming straight out of college and most people (Americans and beyond) would dream of only having 2k worth of debt.

I said the same thing

LLC’s 🥃🔥

"the only new housing going up is large luxury housing" - what does that mean? Also, the big investment companies are just a part of that, it's mostly mom and pops from what I understand.

the biggest issue is spending money you don’t have stop blaming other things

They voted and got what they wanted, now I have to suffer because of your vote....haha

@@brianbattaglia2187 Gotta be something to this right? How do people afford the things I see them buy?

Some people don't have the luxury of financial discipline especially with children, we want more of those to work right?

@@coleslaw9997 Calling financial discipline a “luxury” is pretty disingenuous.

They don't care at all. I no longer believe in anything

@@justhomas83 Don't say that be optimistic the sky's the limit.

And yet Jessica suggests more government spending to "get the economy moving".

8 trillion on the "War on Terror" that made us LESS safe & free then those same people that cheerleader want to lecture us on spending. Hahahaha

And the folks with the degree, can't name most states.

Gotta pay to play

Rofl

Aha. The poor can not afford to have a panel to talk about their poverty.

@@gilsonsangulukaniphiri5018 Wont do. Surrogates tend to seek control. We have enough psuedo intellectuals trying to organise us into something they can manage. In some countries they get permanently cut out (if you follow my drift here)

​@@gilsonsangulukaniphiri5018that is depressing.

​@@gilsonsangulukaniphiri5018 they enjoy your suffering and talk like it's a coffee break fun right 👍

But markets didn’t have price competition for over a year. Small businesses were forced to shut down, while Amazon and Walmart were allowed to stay open. What were you clamoring for in May of 2020? Freedom or draconian, authoritarian lockdowns?

@@SeiyaSoiya-un4jj Nice strawman. Let's enforce anti-trust and enact a windfall profits tax, ok?

@@carycunningham9510 How is it a straw man? YOU LITERALLY provided the years for measurement in your original comment, and then conveniently left out the biggest global event that occurred during that time. You went to public school, didn’t you? Yikes…

What is price gouging?

@@deadgolfer6345 It has to do with why the Sherman Act, and others, were passed almost a century ago. Monopolies and oligopolies (a small cartel of companies) have such a dominant position in a market, they don't have to compete on price, they get to set it instead. Simply put, in a truly competitive market, rising costs should not make profits rise even faster. Market concentration erodes price competition. Anti-trust enforcement, and a windfall profits tax, are some of the ways to counteract this.

I’ve watched many financial audits of people claiming to be broke but their credit card statements show them spending $900 in a month at Taco Bell.

Bills; rent; ramen noodles.

I'm guessing a good bit of stuff they didn't have to buy. I have no idea how people afford what they're buying. How is a pickup truck $76k?

@@SeiyaSoiya-un4jjcheap food? What’s wrong with that?

@@willmcquitter8985 If a single person is spending $900 per month to eat, that’s not cheap food.

Very well could be equal part debt/budget

Make America Cook Again

The groceries are often more expensive than restaurants now

@@1D4ever No they’re not. At the grocery store you can still make 6-8 meals with $50 worth of items. Where as a restaurant you’re paying $25 for 1-2 meals. It’s literally laziness that is stopping people.

Covid emergency spending naturally sunsetted. It’s a liberal talking point.

Yeah I was like is it opposite day??

That’s not true man. Rice is expensive unless u buy cheap rice. Still over 1$. Beans if ur lucky .69 cents a can. Pink beans is like 1.75$ a can!!!! A pound of ground beef is roughly 5$ broccoli is free if u grown ur own. Still gotta buy the seeds tho. Let’s say 3$.. your math is way off, or your lying and sum ppl out there will believe you. I’m not one of ‘em.

@@johndsouza842 Pinto beans $17 for 25#, rice $17 for 25#, Costco

I eat rice and tuna or sardines every day for lunch. Costs me about $1.50 per meal while the rest of my coworkers order Doordash every single day of the week. One guy said he spends over 500 a month on fast food. Breakfast lunch and dinner.

It was pushed to explain why certain people were shut out from careers

I hope they print heaps more. It makes my rental property retirement plan harken sooner. 🎉

The government spends what it is directed to, where it is directed to, by the companies that direct it. There's a reason both political parties are corporations. Just business doing business. Calling it government.

Not really in debt but stuck around a net zero for the last twenty years….

Well, it can be.

or dystopia

And those tickets were not cheap

Who's rent?!?

@@1D4ever “who is rent?” Is that what you meant? I don’t follow your broken English.

Who's rent is 1/4 of their income now in 2024

@@1D4ever “whose”. The answer would be those who are fiscally responsible.

My mortgage is 880 a month I make 80k a year. Just bought it last year for 159k. I pay extra on it every month to get it paid off faster.

huh? the "all time high" was around 1945 when federal spending as a % of GDP was nearly 50%. We're nowhere near that and haven't been for decades. what planet are you on?

⁠@@bryson8918that’s because they are just printing more money daily to hand out to the military industrial complex. That artificially boosts GDP while causing inflation and destroying the middle class in this country.

The only spending that is "high" is the repeated lack of being able to complete an audit and not accounting for double digit trillions at the Pentagon.

They don’t understand.

The Saudi's would never let that happen. They own a lot of US real estate, and large proportions of multiple media corporations.

Sales is a special skill not everyone has. While it can be learned a lot of folks just don’t take to it. If it works for you you are lucky

Sales ain't for everybody.

You make money off folk for borrowing. Nothing wrong with that!

@@causewaykayak She definitely wasn't talking about the concept of usury there.

@@FreedomForever2010 Hi there. Usury is as old as the hills. Money lending is an established business. No one gets a free ride. I get her (their) making a strong point about inadequate pay but they are NOT talking about "Rowntree Primary Poverty." If I understand them properly They are saying that its unfair that people have debt because they spend on aspirational goods. IE Wilful Debt. That isn't the fault of the lenders. No i dont know about you but I can't feel a lot of sympathy for such debtors. They need to live with the consequences of their choices. Neither do I have much tolerance for those who defend profligate spending pretending to be some sort of socialists.

Do you like going to the DMV?

@@SeiyaSoiya-un4jj Government cheese and other staples used to be considered the standard others had to meet. Now we access trash with a brand name, with occasionally changed packaging. The businesses control the government. Just follow the history of US tax revenue by source type. Only one tax source bracket has gone down over the last 100 years. That's why the government has the public perception it does, decades of corporate manipulation in media and sabotage. I get the impression we're headed back to Company towns and Company Scrip for pay. Where your business owned your property, your electricity, your water, and your pay. They raise the rates on the rest, but don't raise your pay. Move 16 tons, what do you get?

That's too efficient for maximized profits. Inefficiencies are needed to increase profit margins. FYI - the government isn't allowed to profit.