Jade can't control that. There are grown adults in the 60s, 70s and 80s in office and see the debt continuing to go up and they're just arguing at each other. Then regular people pick sides when neither party truly cares about tackling the issue.
I've learned more about the government just by watching "grown adults acting like kids" than I ever did in school. That should tell ya something about turning a blind eye on the national debt.
@@vintagecollector5340your attitude is the reason it keeps going up. You can elect politicians who want to make cuts. Unfortunately even mentioning cutting spending is a third rail for most politicians.
@@nailatiylluf My attitude has nothing to do with it. If you watched any of the video, they said themselves that nobody can do anything about it. Sounds like you might have it figured out, though, so maybe you should be a politician.
I fully agree with John Delony. We are paying over 500 people in Washington D.C. a lot of money to fight like little children and accomplish very little. Can you imagine where this country would be if 500 people in Washington D.C. actually worked together and solved problems? It would be so amazing, we would need sunglasses 24/7.
I've noticed that most people who are worried about big world problems do so because they cannot control the problems in their own immidiate lives. Because they cannot, do not, or will not control their own lives, they find it easier to stress about the thing that is TOTALLY out of their hands. It makes it easier to blame it on others and avoid responsibility because its not their problem. Worrying about government or national debt, or stock markets, etc, is easier than looking at your own personal debt, because you can distrayvt yourself with the worry of what "they" should be doing, instead of doing what YOU can do for your own household.
You make a lot of sense and I know many people, who do just what you said. They think if they just made another 10 to 20k a year, their problems would be solved.
If it is physically impossible for the United States to sustain the course its on for the next 20 years, then that has to be a valid concern by all Americans. I’ve got 250k in the bank at 33 years old and this is the one problem as an American that most makes me feel the most beat up because no one can give a real solution and it will cost us all one day.
Ya, don't pay attention to what's going on in the world. Just keep watching your tiktok and Kardashians and do the Ramsey plan. This was a horrible take.
People who say don't pay attention to things like this are clueless. Your vote is super important, especially at the local and state level. Why do think people are fleeing Cali and New York and all of these other liberal hell holes? John is completely right on this one. You should care. It's your children's future. Remember how we were doing under Trump? Gas was low, housing was affordable, inflation wasn't record high, and so on.
Liberal hell holes? Spare me. The “fleeing” is highly exaggerated and those liberal hell holes are what is propping up many of the red states. Let’s talk about when the red states are going to get off welfare shall we?
I bought apples the other day and broke it down and turned out it was $0.75 ea. An apple can't fill you up but a chocolate bar which at the same place is around $1 can. The future doesn't seem very fruitful
If you're financially illiterate its because you find the subject boring because you dont understand many aspects of finance and I think this is where the problem begins.
It's not exactly an easy thing to do to learn about complicated finance topics. The truth is a lot of people are struggling out there. We are suffering and don't know where our next meal is coming from. Student loan relief and a proper UBI would go a long way to helping us all out. We could pay our bills and put food on the table. Why don't Jade and Dr. John want that for us?
@@costco_pizza student loan relief? Why when they signed up for it. If they were scammed by their 🏫 then for sure action should be taken towards the party responsible. We tried ubi during the pandemic and we are living through the consequences of it. People were supposed to spend wisely in such an uncertain time but instead most went wild on homes, cars phones and handbags. If you want to control all of this then you simply have to change habits such as don't buy as often as you do ie; make your iPhone last an extra year or two. Don't buy unnecessary things in general if your safety net is shrinking. Always have an income source even if it means selling homemade muffins door to door.
I agree with Jade. Here is why: Many are not following Dave's or others advice. If people had fully funded emergency funds, the stimulus checks wouldn't have been needed and there wouldn't be people on social media talking about not getting a pay check every time the threat of a government shutdown happens. More people need to be less dependent on the system so we can hold these crony politicians accountable. Yet, that will never happen because most people don't have their households in order. We, myself included need to do better if we want better representation. Period.
They don't want to be. I come from a culture that could collectively end the governments thumb on our necks by simply making more money but they don't want to. They are waiting for somebody to save them. The lottery, the government, a billionaire wanting to give fair wages. Someone except fix their income issue. I asked my brother to join me in trade school to learn a trade so we can own our own family business. My brother would rather get a food stamp card and be a babysitter for all the single moms he date for a place to stay. I'm alone in my own family by throwing them off my island and only working hard for my own freedom. I didn't even get a stimulus check because I knew changing my career would be better. Haven't regretted it one bit.
I think you're missing the gist of this video. Our personal financing has nothing to do with the government's mishandling of national finances. This national debt began spiraling out of control during the Reaganomics era when it was decided by economists that our national debt isn't an issue; it's just a number. Yeah, that's great advice. Now we have a blood-thirsty GOP who are trying to do anything they can to get revenge on the Democratic Party, including sabotaging our entire economy. They hit the nail on the head, here: immature grown-ups are running our country.
It's not exactly an easy thing to do. A lot of people are struggling out there. We are suffering and don't know where our next meal is coming from. Student loan relief and a proper UBI would go a long way to helping us all out. We could pay our bills and put food on the table. Why don't Jade and Dr. John want that for us?
@@costco_pizza People can want it all day, it's not going to happen. Ever. Like never ever. Not in the next decade. It didn't happen in my parents lifetime and it's not going to happen in mine. The government will eat you alive when you no longer serve a function. Find one, make lots of money and retire. This idea that jobs have to be enjoyable and fulfilling is the reason student loan exist for useless degrees. Most things can be taught via skill to skill exchange. No one needs a bachelor's degree in pottery or gender studies.
The stimulus check was because money wasn’t moving and people were looking out for emergencies. The stimulus was so people would go spend it. Hence the word STIMULUS. Sales during covid were absolute shit.
It's exactly the same as personal debt. Who are you kidding? The only difference between government debt and personal debt is that the government gets other people to pay the interest. You or I can't do that. Then again, maybe I'll ask my neighbour if he wouldn't mind coughing $6-7k per annum for the rest of his life to service my loan. He's already doing it for the country. Why not me?
Dude what are you talking about? Actual people and institutions in other countries WILLINGLY buy US government bonds for their own benefit, which increases the debt. How can you say that that's the same as personal debt? Can credit card companies attach a debt to you because they believe in your "personal development"? Go learn the basics of macroeconomics before reacting like that. If you need a quicker presentation there's a cool CNBC video called "Why the US won't pay down its debt" which explains it all. Good luck@@davidbrayshaw3529
It's not that we all don't care, but rather that beyond our one little vote, there is really nothing you as an individual can do to control what is happening. Concentrate on your immediate world. Be financially prepared and secure. You'll be fine.
Nomad Capitalist has the best advice for this problem, "Go where you are treated best". The only reasonable answer is one that only the reasonably wealthy can afford (and are doing) and that's becoming a citizen elsewhere where you are treated better than the tax cattle of the United States. Turning a blind eye to the problem is stupid.
This is one of the most economically illiterate takes I’ve ever heard, and it’s from supposed finance experts. The national debt is paid by American citizens. “Not paying it” is not a game children are playing. Unfortunately It’s one of the only bullets in the chamber of rational lawmakers who recognize how out of control we are and who have tried to negotiate and told it’s not an option. Imagine giving this advice to a caller “sure you can’t make the minimum payments but the solution is probably to raise your credit limit.”
The tidal wave of the debt is getting bigger and bigger. Well we dodged the last 15 ones fine but it is getting bigger and bigger. Until one day you will not be able to dodge the wave and we are all Swept Away. That is coming trust me! But we cannot change this cos the people and the politicans will not see the wave.
The reality is that a lot of people are struggling out there. We are suffering and don't know where our next meal is coming from. Student loan relief and a proper UBI would go a long way to helping us all out. We could pay our bills and put food on the table. Why don't Jade and Dr. John want that for us?
Student loan relief doesn’t address the root of the problem. Ppl need to be responsible for their own decisions. Should be same for corporations but alas the lobbyists rule
The National Debt literally means nothing. Calling it "debt" is a complete missinterpretation of what it is. Its just the difference between what the government spends versus what it takes in, but The Fed just prints money to fill the gap. It causes inflation, yes.. but as long as the dollar remains at the top of the heap it literally doesnt mean anything at all.. its hard to believe because debt in your own life doesnt work the same way as a government with a sovereign currency.
@@nychris2258 why are we paying a 3rd party (i.e. The Fed) interest on it? And what happens when the RoW stops accepting the currency? And why are we paying so much more for so much less, i.e. why is the dollar trash compared to 60 years ago?
She’s giving her mindset, but she’s not explaining why this matters. And the reality is, It actually does matter to individuals. Everything cost exponentially more and this is bad.
If it’s 33 trillion or 330 trillion it doesn’t matter. The U.S. will never pay off its debt. 💸 I can see the consequences of printing 4-6 trillion in Covid. If U.S. pays off its debt then the inflation would go to 30 % However, all in all, one day this debt problem would be so much worse that it will collapse the whole world economy and it would be virtually impossible to come back and fix this problem.
US is on an unsustainable path with its national debt. So much so that there has to be a default on the debt within 20 years. These are the facts. Now, how can we best set ourselves up for success for the LONG term? If Dave keeps saying invest in the S and P and in 20 years it gets crushed, and there is no positive and real long term answer, then they don’t have the answer, at a time when Americans will need the help more than ever since Dave Ramsey has started his business.
These two are out of their area of expertise. The growing principal on the national debt will never be repaid. The yearly interest payment has grown bigger than the entire defense budget. The dollar has lost 93% of its value since 1971, when the $ was taken off the gold standard.
We shouldn’t care that over a trillion dollars is being wasted on interest on the national debt this year? In a few years it will be more than the entire tax income of the USA. What do we do then?
I can’t do anything about the debt. But I can protect myself from what the government/central banks will do which is hyperinflation by creating a mother load of currency. Gold and silver will be my protection against hyperinflation which is ALWAYS the result of “stimulus”, “QE”, “quantitative easing”, “loosening of monetary policy” and all the other made up phrases that mean currency creation of out thin air. Love to hear your thoughts.
The income tax was created at the same time as the federal reserve and serves the sole function of siphoning your productive labor onto the banks possession. The income tax has always been exactly the amount as the interest "owed". Why we are paying private banks for the privelege of printing us our sovereign currency is another discussion altogether
@@georgeorwell3501then keep doing those things. Everything you mention, just like what John says he’s going to do, is all the same things you should be doing anyway. Even if there was no national debt or rising inflation, you should always be saving, watching what you spend, investing in your retirement, having money for your family (if you chose to get married and have kids), being a good neighbor and support for your friends and family. The national debt shouldn’t change your behavior.
A government shut down is far different than a default. And a default will never, NEVER happen. They just make more money by tapping keys. No printer required. We the Sheeple may suffer, but thats ok. We're financial cannon fodder. The govt will be ok. Dont you worry.
The USA's credit rating was lowered in August, meaning the USA is more likely to default than they were before, and with that rating downgrade higher payments likely for new debt issued. The country is moving in the wrong direction. That is a signal that a default is possible, just like it is for any other country
If you make $100k and have $50k in debt besides your house then you and an income to debt ratio of 2 to 1. The U.S. government has a debt so large that it is 130% of gdp. That is the equivalent of someone making $100k but having credit card debt at $130k. We see the interest rates eating up $1trillion a year.
I have zero debt and I worry about the National Debt. I do a variety of things to protect myself, but if we can’t afford debt payments, we’re screwed. The centrality and locality of issues is important. Take of your household first. Then take ownership of your city. Then your county. Then your state. Master your most immediate domain first, then look outward. Ask for God’s mercy and help the whole way through it.
Maybe part of a major problem is the entire world depending on the US when we are $33 TRILLION in debt. We can no longer afford to be the piggy bank for the world. Individuals, families, states, organizations and businesses all have to operate within a budget. The US government should have to as well. Also the politicians in DC (especially those who think the US government operates with a blank check), oligarchs, CEOs, whoever, that do not care about that debt, they have generational wealth to pass down to their bloodline. Many of their families are set up for the rest of their lives. If the worth of the dollar decreases, their millions will still help their families while it will drastically affect the poor will hurt.
@@silverltc2729 No Fed tax No State Tax No Property tax, city has no tax No FICA, retired But you're right, Gasoline, Bourbon, Tires, cigarettes Oh, don't smoke, drink, or drive.
I think there is one thing we can do. That is do not elect any incombats until a balanced budget requirment is mandated for the federal government. It dies not matter if you like your congress person. They need a very firm message. This needs to include the president.
The massive amounts of money printing in the debt based, fiat system that we're living in is actually the root of the problem. Corruptible money lays the foundation for a corruptible society - Cantillon Effect in full force. Bitcoin fixes this.
This whole notion, that don't worry about it and just worry about you is asinine. What the government does effects all of us. The big jump inflation last year effected everyone who pays bills to buying groceries. So how can you not worry about things like this when it effects everyone.
I have my household in order but I know increasing taxes are coming. The problem is our government rewards people for being irresponsible. They want to transfer cash from the hands of savers into the hands of people who would buy a turd if that's all the store had to sell.
Quite a title when in fact the constant 0:18 creation of new money backed by nothing is huge problem. Remember, money is a measurement of real wealth, it is not wealth.
I have been through a bankruptcy in Detroit, and two companies. In all of it, God has taken care of me because in His wisdom He has taught me to live below my means and avoid debt. Yes, the United State government could easily go bankrupt. What can I do about it? I can trust God, continue to serve Him in my job and in the church and continue to live below my means to prepare for what will happen.
The US is paying 712 billion on interest and counting. Our military budget is 795 billion, we are going to surpass our military budget on interest payments soon.
Yes, hi debt, super high gas prices, record inflation, unaffordable housing, 113 billion going to Ukraine, and so on. Ya, it doesn't matter! Seriously? Horrible take.
On one hand, forcing a government default will be a world wide crises that will likely cause the US to go through a vast change in force projection and international relations. On the other hand, this current out of control borrowing is not sustainable regardless of what the modern theorists say. The catastrophe will happen sooner or later. Conventional wisdom says that putting it off will just make it worse when the bill does finally come due.
I asked my stock broker what I should invest in, he said can good and ammunition! So if things get really tight how much resources is he ( the host) going to be willing to “ Share” with his neighbors? At what point does he realize he maybe getting taken advantage of. I just hope I can still afford three pallets and a tarp. I got some right of ways staked out near a dump so I can find some items to trade for food.
I’ve been reading as many economic books as I can the last year, and all I can say is everything is a mess because of greed and government regulations. Government regulations affect normal peoples’ lives.
I like how rich people say not worry about it but here we are paying $5 a gallon for gas ⛽️ food has doubled stock market doing nothing everybody’s rent went up to $1000 more a month ya ur vote does matter and so does this debt…
Fixing this problem is very simple, everyone needs to start voting differently!!! As log as you keep voting the same way these types of issues will continue!! We need to vote the old out and the new in!!!!!!!!!!!!!!!!!!!!!! Please!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
No it isn't. because the only types of people that run in the elections are those that want these issues to continue. Elections are a choice between people who want this to continue and other people who want this to continue. There is no new to vote in.
Is the $33 Trillion in debt the same as saying the fiat accounting system has produced a loss of $33 Trillion of real wealth (Material resources, energy, intelligence) ??
I agree. They could be telling the viewers to prepare by storing food, supplies, precious metals etc. There will come a day when the USD will be worthless. When is anyone’s guess?
@georgeorwell3501 stop with the precious metal peddling. If US gets to the point where grocery stores only accept gold/silver,you'd be better of with. Surplus of bullets
I appreciate the two of them together. Wisdom from both the big, distant picture and the close-in "be the example" perspective. Good teamwork! (p.s. Jade I miss the colors! 🥰👍🏽)
Insurance Inflation Housing Education Dollar depreciation Taxes These are things the government does have a say in: HOLD them accountable... Don't ignore these millionaires...Either side....
This is why you don't have an anxious shrink talk finances. The openong take on government is so irredeemably nieve and based in fear. National debt is bad. The government shuts down, we go to mandatory spending, which includes debt payments.
Only 2 things you can really do; Vote, call your representatives and bug out to a different country where you won’t feel it when this whole house of cards come crashing down & it WILL come down eventually. Can’t keep kicking this can down the road.
This much debt only means that the whole country and every resource of any value is going to be sold to those we owe money. This poorly run country just means poor roadway networks and unsafe drinking water and so much more but no big deal.
@0:40 He says that a government shutdown means America isn’t paying its bills. That is false. Failure to pay bills would be the result if the debt limit were not raised, but the debt ceiling is not at issue. The guy has no idea what he’s talking about.
What she is stating is a very cultured thing to say. Most minorities have this mindset because its taught to mind your business, focus on yourself, keep your head down and dont make waves. Hopefully she gets out that mindset, because alot of minorities will be effected by this national issue, because they work for the federal government directly.
The Fed issues money to buy debt so Congress can spend like drunk sailors. This increases the money supply and leads to inflation. We all pay for the profligacy through higher prices and devalued savings.
It has already affected evrryone who has ever used a federal reserve note aka US DOLLAR to purchase a good or service. The dollar is trash compared to what it once was
The buildup to World War II brought the debt up another order of magnitude from $51 billion in 1940 to $260 billion following the war. And we thought that was alot of debt.
The US lent a lot of money during that period, on very good terms. It also made a fortune from arms sales. The debt that incurred was paid back many times over.
People need to turn the TV off. You need to not be in debt. Doesn’t matter who the president is, can’t pay the light bill, you have no power. Who cares.
Pretty much. You can't control them so why lose sleep and stress over it. Your life is 95% what you personally do. Get your house in order and vote properly and be involved at the local level. That's where the real effects are. How are your schools? How are your roads? What is your town/county leadership doing? THAT'S what affects you.
There is something you can do about it. Vote. Vote with cognition, get informed, don't play the game of "my team v. their team" that politicians love. Or even better, run for office and be the change we need.
What a horrible take. Yeah don't try and stop the car or get out of it while its being driven off a cliff. Equate it to kids in a sandbox. Work on what you can at home and what you can change at a local level. Jade was more correct then John by miles
The government is the issuer of currency. That debt doesn't need to be repaid because it's not actually debt--it's the amount of USD in the public surplus. This is financial illiteracy...
Thats stupid keep printing more money and giving it to useless community centers then and then dont raise wages the country is going to be fucked one day
The "Federal Reserve" is a PRIVATE bank owned by a few powerful people. They are the only source of money for the US. They loan the money to the US at interest that is due immediately. Hence that is the reason the debt rises everyday. For more information, read "The Creature of Jekyll Island" By, G.E Griffin
