Good morning. It is Tuesday, September 26, five minutes after 11. It's Kendall and KC on 93 WIBC joining us in the studio right now.

Bill Demory, he is your retirement guy and we're talking about money bill.

Let's start off and talk about the national debt. It just surpassed $33 trillion last week.

And if we connect the dots, explain what does that mean to us? It sounds like an awful lot of money, but what does it really mean?

Well, KC, here's some good news is yes, we're $33 trillion in debt. That's the bad news, but the good news is we still have time left to do something about it because taxes are on sale right now.

Oh, we love sales. Well, you got a coupon.

Oh, my wife is not listing because she's going to be all about this. What do you mean taxes are on sale?

The Taxi Employment Act that President Trump put through it has a ending date and that ending date is January 1st, 2026.

Taxes will revert back to a higher amount. So in regards to the taxes, most people, they don't understand, okay, that back in 1981, the highest tax bracket was 70%.

70. 70. Sounds pretty high. Where does the government get their revenue? Okay, they get it from taxes from us. Okay, so when's the best time to pay the taxes?

When they're at a lower rate or when they're at a higher rate? Well, that's a no-brainer at the lower rate. And this is where we have the opportunity to do what's called partial Roth conversions.

And so the listeners out there that have like a 401k or an IRA, that's all pre-tax money.

So I have clients come into the office and we talk about their 401k and they say, I've got a million dollars in my 401k and I say, no, you don't.

Yeah, if whatever taxes, whatever taxes are going to take out that, that's what you have left.

Yeah, because if they're in the 40% tax bracket, all of a sudden they go from a million dollars to 600,000 dollars.

Bill Dimmery is our guest. We're talking about the $33 trillion in debt, which is embarrassing and disgusting. And by the way, full disclosure, everybody knows this, but we want to put it out there.

You do advertise on this show. I'm curious, Bill. You said something that was interesting. And we talked about this in fact the other day that in 1982, the nation's debt went over $1 trillion for the first time and then we went 10 years by 10 years.

And while it was, you know, not great pre say 2012, the explosion of spending and debt that has been incurred since 2012 and the past 10 years, these people should be ashamed of themselves.

It's just getting so out of hand and I think our founding fathers would turn over in their grave, you know, if they saw what happened.

I remember, you know, Ronald Reagan, when he was in office, he says, government is not the solution. Government is the problem. And that's so true.

You know, it's fascinating because I think I'm trying to do this from memory here, but that chart that we looked at Casey from 1992 to 2002, there was like two trillion added. I think we went from four something to six.

Not great, but you look at how the economy roared and we talked about how look Clinton clearly had to make the deal with the Republicans based on the election results of 94 and whether it went willingly or by force, he went and look at the great economy that roared at the back into the 90s because of it.

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