4.6 • 682 Ratings
🗓️ 8 April 2025
⏱️ 7 minutes
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0:00.0 | Brought you by Y-ReFi. Refinance your defaulted private student loans today at Y-refi.com slash Ramsey. |
0:10.4 | Today's question comes from Steve in Indiana. Would your snowball plan help get America out of $36 trillion dollars of debt? And how would you budget it? I wish Trump had you on the Doge |
0:24.0 | team. Yeah, no, I don't fit in with people that do stuff. No, I don't fit in anything in D.C. |
0:33.7 | It is kind of fun to watch them take a machete to the ridiculous spending. |
0:39.8 | And you don't have to be of any political ilk to think that machetes to the ridiculous spending are necessary. |
0:46.8 | This is out of control. |
0:49.8 | For sure, I mean, it's a funny question. |
0:52.4 | But the truth is that running a government of any size, the state of Tennessee, for instance, the governors, the last several governors I've been friends with, and it's a different endeavor to run something like that than run a business or run your personal account. The principle of being debt free still stands, and it's a good principle, and the principle of |
1:11.9 | living on less than you make still stands, and the principle of good management or good frugality |
1:19.2 | still stands. The, so, I mean, I can give you an opinion, but it's probably worth exactly |
1:27.3 | what you're paid for. |
1:29.5 | I observed under, for instance, Bill Clinton was the last president that had a balanced budget, that we actually did not run. |
1:39.6 | I mean, he did it. |
1:41.9 | Some say that he did some of that off of, I mean, the tax code that was in place at that point |
1:48.8 | was put in place by Reagan. |
1:51.4 | And so the lowered taxes, the Laffer Curve, Art Laffer Famous for. |
1:58.9 | Was the Reagan stuff all the way through? |
2:00.6 | Wasn't Bush 1 and then Clinton? |
2:02.4 | Yeah, yeah. |
2:03.2 | But the, it was, but I mean, it was H-W... |
2:06.3 | I mean, H, you know, was running the same camp. |
2:08.8 | He's running the same deal, except he raised taxes on one thing. |
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