Thanks for watching guys! Let me know what you think of Elon's plan - are you all for it? Or do you find it to be a conflict of interest. I'm interested to hear your thoughts! Also (getting ahead of the comments) - I know Dana White is the CEO not founder of the UFC... just misspoke.
If elon cuts the debt it will cause the dollar to get stronger and cause a global dollar shortage. People fear hyperinflation in the united states. Probability is less than 1% but why? The dollar debt is not in physical dollars. It's been loaned out by banks. Commercial banks are 95% the guts of the global monetary system
The last 40+ years of Republican tax cuts for the obscenely wealthy have given us almost all of the current national debt and deficits. Republicans have it so that billionaires pay about one third the percentage of their income in federal taxes as the average family that works for a living. We do not tax the wealthy in this country to the extent that they should be taxed. All the huge profit margins of companies come directly out of the pockets of the people that work for a living and go right in the pockets of those who don't, the wealthy of our country. "Trickle Down" is the biggest scam in the history of the world and that is why we have the deficits and debt that we do.
A master class in sane washing the insane. Elon is a lunatic and shouldnt be left anywhere near government control as a business man (the fox running the hen house scenario). If you really care about government debt, its easy: bring back the Green Back dollar, a dollar without interest attached. You dont need elon musk to do that. He's a spoilt brat who more than 1 screw loose.
Many government employees are taught to use every dollar allocated each year or risk losing funds next year. That is one practice that needs to change.
Yup, when I was working at the VA, they were spending on junk just to use up the budget (as a tax payer, I was pissed that my tax money was going to BS junk)
I knew a nuclear physicist who worked for the AEC back in the '70's and he told me the same thing. Near the end of the year they went on a spending spree to spend all the money bugeted to them so they wouldn't be forced to reduce the budget for the next year.
I was once called off the job to drive 20 min. to the county office 3rd floor, carry a form downstairs to an employee in a tiny office who looked up my tax record ON THE SAME COMPUTER SYSTEM that the form was printed from and stamp the form "taxes current." I took the form back upstairs where they added that update to THE SAME COMPUTER SYSTEM. I asked why the system didn't just update itself and was told "If we did that, the employee downstairs wouldn't have a job and her manager would lose headcount."
Reminds me of this one really interesting TH-cam video, I think it’s called “useless jobs”. Basically list a bunch of jobs that have no business existing in government jobs
They have to spend budgets and run short to continue to get increasing budgets in case they need it. Reminds me of a factory job I did once where I got taught to work slow to allow time and motion to allocate more time per product in case someone else was slower or something went wrong one day.
@@ebinrock So Elon Musk creates massive unemployment then says, all you NASA scientists can bring your hardware and intellectual property to Space X, all you unemployed bureaucrats can learn to install Tesla power walls, all you unemployed FBI and CIA can work for my personal security service. All hail Emperor Musk! ( cue the Darth Vader music)
We have that at our company. All the departments are slowly starving, because the people in charge try to save AS MUCH AS THEY CAN to get as much of a bonus the end of the year lmao
@@koller8930 So Elon Musk creates massive unemployment then says, all you NASA scientists can bring your hardware and intellectual property to Space X, all you unemployed bureaucrats can learn to install Tesla power walls, all you unemployed FBI and CIA can work for my personal security service. All hail Emperor Musk! ( cue the Darth Vader music)
Taxes do not fund the government. if they did, explain why the national debt has never gone down 1 cent. Taxes go to the federal reserve as interest for using their fiat currency as legal tender, tariffs, excise taxes and borrowing more from the federal reserve is how the country is funded.
@rajkumarbharathi3139 it doesn't matter. Boeing sells replacement airplane parts to the military that costs them pennies to make, they sell it to to government for thousands of tens of thousands of dollars... But Elon will have you believe that it's the national parks, the food stamps, the environmental regulators that are wasting your money.
bruh i was in the navy and I worked on a radar. The fans that cooled the circuit cards were 10k each. They are basically the same fans inside a desktop computer. There were like 20 fans. They also broke every year like clockwork. "MIL" spec fans lol
@@paul4381 except the US has it's own currency and can always pay. It can always decide it's interest rates and never runs out of money. In fact it does not even need to borrow. It can just pay. Forever.
As a 30+ year military veteran/federal employee, the list of nonsense expenditures never seems to end. There were congressional allocations for training and equipment that we had no choice but to find uses for which were completely unnecessary.
So why does the deficit always increase with republicans in office? You know trump raised it by a tremendous amount but only dems are bad with money right?
I did the military, contractor, federal employee thing and got burned out on the laziness and corruption. The big weapons programs suck up so much budget for so little return. Then they nickel and dime the lower ranks and their personal weapons and gear. I went to Iraq with 3 different colors of camouflage, a 30 year rifle, and defective body armor.
Part of the problem is departments must spend their entire budget to get that same budget the following year. If a department doesn't spend the entire amount, use it to pay the debt. Companies do the same stupid thing. They cut budgets when they don't spend it because apparently you didn't need it.
It’s amazing really. We have a financial crisis, caused by greedy, reckless financial institutions. Congress passes legislation requiring those institutions to be less greedy and reckless. The institutions then lobby to have those restrictions removed, usually in the name of “remaining competitive”. This leads to another financial crisis. It’s completely predictable, and we have been doing this dance since the Great Depression almost 100 years ago.
Agree; the rules should be applicable to all banks - big or small. First; very few meaningful laws are passed and then this cycle of doing-undoing seems to support deregulation risking the economy and the faith in banks.
A lot of folks downplay the role of advisors until being burnt by their own emotions. I remember couple summers back, after my lengthy divorce, I needed a good boost to help my business stay afloat, hence I researched for a licensed advisors and came across someone of utmost qualifications. She's helped grow my reserve not withstanding inflation, from $275k to $850k.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with DIANA CASTEEL LYNCH for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Non-discretionary spending (social security, medicare/medicaid, and interest on the debt) makes up about three quarters of annual spending. About half of the discretionary part, which is the part that congress argues over every year, goes to the department of defense. The remaining half of a quarter runs _every other federal government function._ The discretionary budget is 1.7T. The current budget deficit is 1.8T. Musk comes from an environment where things like payroll are a large part of a company's outlays, but that is simply not the case for the federal government. At this point we literally can't have a balanced budget without raising revenues or cutting social security and/or medicare/medicaid.
My father (an electrican) once did some work on a local military base where they had several helicopters running idle on the tarmac. He asked someone why they were just sitting there running and they said "they need to use up the fuel becuase if they dont then they wont get the funding for it next year."
In some Australian government departments this was true - they spent beyond their budgets (unplanned, unapproved) and then used that as their baseline for arguing for money in the next financial year.
As a federal employee, I can tell you the amount of money essentially thrown away is staggering. Price gouging, misallocation of funds, and trying to spend the entire budget are some of the biggest leaks in money.
@@elterga6224 Since the new administration is going to rely upon the military for deportations, I suppose Trump & Musk are going to ask you to round up migrants and deport them. Enjoy the screams of crying children & the anguish of distressed parents. But at least you'll still have a job & it won't get eliminated.
I've got about 15 coworkers at a school district that could be cut with no noticeable impact. 1st one on the list is the budget manager who makes 200,000 a year and gets 6000 yearly raises, while telling cleaning staff to use less cleaner because it's not in the budget. Its run just like our government. POORLY
I am retired civil servant supervisor of over 250 people. Concur 100% 10-20% of the people could be fired and have absolutly no impact.... In fact getting them out of the way would probably make the others who actually work become more efficient by not carry the dead weight of the first 20%.
I am a government employee. The inefficiency in government is truly unbelievable. So much waste. I work in public safety with aviation. I use equipment that is older than I am (and I am closer to retirement than the start of my career). Better equipment and methods exist, but procurement and onboarding is a joke.
The problem is that money is debt and the debfiatmoney are usually created by private banks. They then ontop add interest like 4%. But the never created that 4%. It makes a shortage of money going around that we are still expected to find working 2jobs scraping by. Pretty evil ,but smart.
If your loosing money you better find a way to stop the bleeding or your out of business. Chinas infrastructure is only 35 years old while American infrastructure is over 150 years. Some people want you to think that Chinas bldg practices are unsafe because they dont have the safety standards, untrue. Their not held back by unions, their people are eager to work.
TREASURY will create and use DEBT FREE US NOTES as was done by Lincoln and during Revolutionary War, Jackson paid off the debt 1837 only time in history a major power paid its Debt. Notes will be tokenized and digitized, maturing bonds will be paid with this new form of DEBTCFREE money. 30% of debt is due in the next TWO YEARS this is why THEY let Trump win ! But he will fu@k them like Jackson did. 70%+ of debt will be paid in four years!❤
That’s one mechanism the government uses to get tax payer money to support secret operations. Pay $90,000 for a $5,000 bag of bolts and the $85,000 delta goes to the secret op.
I’m a US Army veteran and I have served 21 years in federal civil service. I can say it’s an absolute fact that 1/3 of federal employees do all the work, 1/3 do the bare minimum, and 1/3 does nothing at all. It’s nearly impossible to fire a federal employee and this is the number one factor causing inefficiency!
1/3? My experience is FAR less than 1/3 of employees do all of the work . . . more like 1/8th and don't forget that the people at the top of each agency make the most and do the least
I work in the private sector and layoffs always scare me. People I know who work in government always say "Get a federal job, you'll be set for life and you won't be scared of layoffs." I see why now. Their employer can just print money no matter if they're hitting their metrics or not.
Every line of work has inefficiency. I know plenty of people who work in the military and in the federal civil service and do a fantastic job. 2 million people service in the military world wide and 4.5 million work in the civil service mostly in the US and some abroad. I have zero exposure to all 6 million of those people to breakdown who is doing their job and who is not. Doesn't mean we can stream line but we should all avoid allowing our experiences to form our opinions when our experiences don't expose us to all of the people who work within the system.
People miss the point Elon is making. When he talks about reducing regulations, he's not (usually) talking about doing away with safety standards, financial safeguards, or environmental protections, but rather talking about removing the redundancy and overlap first, then looking at whether the remaining regulations actually serve the purpose they were intended to address and whether there might be a better approach to achieve the objectives.
In my opinion, one of the first steps is to get rid of ALL lobbyists. Those people are there to influence our government to spend money and usually high cost so they can get their cut. If our government needs jobs to be done, then get estimates like businesses do. Then hold those estimates to account... no changes and no over rides. Accountability on ALL sides.
Lobbiyists are not employed by government, Lobbists are hired by "for profit" companies to disaduage the congress to pass any regulations, so that they can loot the public. That said, you can not eliminate Lobbists, but if you bring in transparency to Governance, then the size of the Lobbist pool shrinks.
I used to work for a government contractor. For a period of 2-3 months, I got paid to sit and pretty much do nothing as the project had no direction and they needed to allocate somebody to burn through the rest of the contract's funds. It felt so morally wrong and I had the itch to do things that wouldn't just end up sitting on a shelf to collect dust, so I quit and have zero regrets. Income tax is just a vehicle for the government to needlessly spend.
@@porthosduvallon5301 what fraud? Do you know how government funding works? The concept of burning through a budget for more funding in following years is precisely why there is so much waste. The government is in the same bed with these contractors, so do you really think they would care to listen to somebody like myself? Haven't you seen how the government operates? Lol.
We had a similar situation at the university where I work. The organization was headed for a financial cliff. They brought in a business exec who specialized in rescuing companies. He did a remarkable job getting the finances in order but this earned him the wrath of the faculty and he was driven off in less than a year. Everyone hated him but he saved the university and got in a position so that, during COVID, no one lost their jobs. This was only possible because people were FORCED to change. No one wants to give up anything for themselves EVER, but sometimes it's the only way to avoid bankruptcy.
I decided to scale down when I couldn't get a decent job, and went into retirement. I did the numbers and decided how much I could spend each day. I gave up cable TV, expensive lattes, went to a cell phone plan that that had a hotspot to run a smart TV, movie subscriptions, and took a chance giving up house insurance. Watched the sales and bought accordingly. Do my own hair. Grew out my own nails, turned up the heat in the house and found out I never got sick so I had no medical costs. Paid off my house early so I have no mortgage interest costs. I rarely give two charities but I tip 20 to 25% to servers because they are working. And I always tip the gas station attendant because we have the option of service. If I can do it I do it. My own lawn work, some electric work. Change The light bulbs and filters in the car. In other words, I looked at each expenditure and whether I could reduce it or eliminate it. Here I am almost two decades later and I have no debt. I don't pay interest on anything. I've saved tens of thousands of dollars So I can buy the next car in cash if I need to. When I go shopping I look at other people's carts and the trash that they buy to strew around their houses which will be in a landfill before long. I don't do that. I just got voted on the the board of the HOA. Now I am looking at every line item of the expenditures, the budget And I see a lot of waste.... to pare down or eliminate.
@@rm-gh1co I sure wish this was just about the economy!! I do all of the things you do and have for 50 years, but I am still just living comfortably and will soon have my home paid off. I still have home insurance and property taxes to pay however. Counseling people to do without insurance can produce devastating results. Just because you are lucky doesn't mean that disasters don't happen to others. I am just as concerned about the dictatorship that is transforming in this country. While we are all worrying about the price of eggs the Orange God is destroying our separation of government and wants to cripple us on the world stage with isolationism. Face it, we are part of the big picture, the world. Sticking our heads in the sand and pretending nothing surrounding us matters will someday come right to our door steps.
Yup, it's a leader's job to make the tough decisions that are best for the long term even if they hurt now. Fixing things is never easy, else we'd have already fixed it.
Gov has known about their excess spending always. They just have politicians who are getting paid to look the other way and ignore it while they get rich and the american tax payer goes broke.
The country has serious problems which need money to be fixed. The one thing that is seriously bloated regarding the US federal budget is the department of defence. Take your time and look at the federal budget and ask yourself: "where do we need to spend more and where could we save a little bit?" You could cut the defense budget by 1% and alsmost double the budget for "national science foundation" or the EPA without spending a dime more than before.
The hilarious things about your comment is even if the US Gov can reduce its deficit to the point of actually gaining a surplus, and then use that surplus to pay back debt its not going to benefit you in the slightest.
Exactly. Elon's brilliant plan is to automate the government after firing 80% of the staff. This is technocracy on crack. A lot of people work for the federal government. The quickest way to UBI and complete control is through this bozo.
Maybe the best structure for talking about politics unbiased. All of these people in Trumps 2nd administration deserve more transparent media like this. Incredibly informative, wonderful video lad 👏
If the gov collects 35% of its revenue from social security taxes and spends 22% on the people who pay those taxers, how is it possible to run out of money to pay social security recipients? Unless, of course, that social security revenue is being spent on other programs.
They take more social security than they give because it is supposed to go back to american taxpayers after they retire. A 401k works similarly but it is entirely privatized and optional and allows you to influence it whenever you want.
The Social Security trust fund lent its excess to the Treasury while boomers were still working. The Treasury is repaying this loan now. Social Security taxes (FICA) are not enough to pay benefits now. Once the loan has been repaid, Social Security will not have enough income from FICA to pay full benefits. Benefits must be reduced or taxes raised or some combination to prevent the reduction in benefits. The money wasn’t stolen. The loan is being repaid.
It is. In fact Social Security benefits have been used for years. At 35 I was to receive $1340 a month retired at 60. Now the projection is at 75 my retirement will be (if I live that long) $550. My mother in law was paid the same amount for working for 6 months at a $1.50 an hour. Every American who has put money in all their lives have been robbed blind.
They broke out Social Security and Medicare under the spending but combined them with payroll taxes. Add them up, its 36% being spent on Social Security and Medicare.
While a US Marine, I worked on radios and antennas, a lot of the items we could fabricate from parts on hand especially the antennas. The cost savings would have been in some cases 90% but we were not allowed to. In one case the part we would have fabricated would have been better more durable and would lasted longer. The part we were forced to use was designed to break to force replacement. Just to light to do the job. Each antenna needed 3 to be set up. Cables had to be at least 50 feet long or was scrapped, if damaged could not cut or splice had to toss. And yes we had to totally spend budget or it would be cut the following year.
I was in ATC communications in the Marines. We had 5-10x markups on basic items like tools and hardware you could get from a Home Depot which really has nothing to do with safety. Granted by the time i got out they had shifted most everything to unfixable and need to be returned to the contracted vendor to replace. I don't know how the contractor relationships work, and I understand some of these supplies are extremely specific and need to be marked up since they aren't sold to anyone else but the military, but at a certain point their needs to be SOME amount of care for how tax dollars are spent.
thanks for that story and your service. It's always great hearing firsthand stories of how corrupt our government has become, even when faced with common sense like you presented.
That's the way it's done with most companies. If you don't use up your budget this year, it will get cut for next year! That's how the bean counters think.They have an incentive to do so. that is capitalism, maybe not at its best!
Yea we can definitely cut some defense spending and be totally safe from foreign threats as we stand - we have so much buffer time incase war actually looms
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" - Thomas Jefferson
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
As European I dont understan why the US has so much debt. No public healthcare, no parental leave, no long sick leave, old infrastructure…..where is the money going
We spend about $3 trillion a year between Medicare, Medicaid, and Social Security, adding up to nearly half of all USFG expenditures. The Pentagon, VA, and DHS together eat up more than $1 trillion. In other words, about 2/3rds of the budget goes to either entitlement spending or "national security".
Money is largely wasted because of budget cut fears. There is a "use it or lose it" mentality with budgets, and they are also grossly inflated because companies that sell to the government usually get some kind of exclusive contract that allows them to mark up prices by exorbitant amounts. A single trash bag could cost the government 5 dollars or more because of these contracts
It gets put into public services that most people will never benefit from and are so grossly mismanaged that it bleeds money. It all goes into bureaucracy, paying people to put a stamp on things. The money that does reach people goes to single mothers who don't have to work or produce anything because the government pays them to stay home. These people don't pay taxes because they don't make any income but we will gladly pay to feed them, house them, and get free iphones. It's both the government spending money just to spend money, and half our population paying the other half to not work. People think that just because we don't have public healthcare like the EU that there aren't public options or networks. That's simply not the case. We give an enormous amount of money to people, most aren't even US citizens. We import millions and millions of illegals every year and pay for free housing, free food, free utilities, and sometimes vote in federal elections.
If there are concerns about Musk being in charge of regulations because he owns businesses, shouldn't that same argument be used for our members of congress that buy and sell stocks? 🤔
Many in congress have gotten rich by having insider info. Look at people like Pelosi who make a fortune in the markets with this info. Just be ready for all the resistance to doing these things. The old saying- if you want to get rich, start a business. If you want to get really rich become a politician in government.
It's absolutely insane to talk about him having a vested interest and affecting policy when our entire government is set up that way through politicians being lobbied by corporations and their money
Departments that don’t spend their entire yearly budget should be rewarded not penalized with lesser budget next year. This will promote fiscal responsibility, who agrees?
Elon Musk, he actually literally said this during the "if they know they will get fired, they will instantly spend your money more wisely" part, i think it was right after that, but not shown in this video
@@suomynona4607You vastly underestimate the value of X. You are only looking at it from a dollar perspective. The information that can be found on X is far more varied and uncensored. If you had two books, one without censorship that had every detail or the same book with all the negative information censored.... Which one would you read?
@@suomynona4607He became the most important person in the world after Trump. IMO, the money was very well spent. Besides, he still the richest man alive.
Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?
Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
GREGORY LEO CATTEL is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.
36 trillion in debt and 345 million people. That's over 100K per person or 500k for a couple with 3 kids! It's absolutely ridiculous. If it is not paid down AND the USD loses it's reserve currency status, the USA will become a banana republic.
@@tesladrew2608 I guess americans spend well beyond their means. I dont get how some broke person decides to go on a 3 week long vacation for 10 grand on credit. Why. Did they make some valuable interpersonal connections thatll get them work/business opportunities? No. Its sheer stupidity.
Donald puts the reserve currency status at risk with high import taxes. The other countries will stop exporting goods to the US and are no longer interested in holding dollar. This will happen sooner than most people expect. And it will be devastating. I have no illusions about this.
Yeah, but Trump and Musk wont solve that issue.. it's not their problem. They are in it for the tax cuts for billionaires, and deregulating the stuff that annoys them. Typical selfish, narcicistic billionaires. And america voted them to be in charge. Like, holy hell, why.
I once worked for the FAA (can’t say why) but they needed to hit their government budget quota for the year so this one building spent 7 million for us to build something in a completely unused corner of a hallway. Government is so wasteful these days. Lets cut it up!
How amazing would it be for US news agencies to report this sanely and analytically? No bias, no spin, thoughtful summary of the facts and open ended questions relevant to the topic. And the deluge of comments from federal employees make it clear there's a productive way forward here.
@@ReviewBoard-uy5nv So Elon Musk creates massive unemployment then says, all you NASA scientists can bring your hardware and intellectual property to Space X, all you unemployed bureaucrats can learn to install Tesla power walls, all you unemployed FBI and CIA can work for my personal security service. All hail Emperor Musk! ( cue the Darth Vader music)
Unless your country is at war, it should never run a budget deficit. There is no excuse for debt. Pay for it with tax revenue, or go without until you can afford it.
Yes, but every Government promises 'investment' on things that people want, so they effectively buy their vote. People are never told that this 'investment' is actually borrowed money. If the people knew the truth, they might act differently.
"There is no excuse for debt" national debt is a major economic driver and a baseline product of our financial system, a country with absolutely zero debt is catastrophic for the economy... You Americans like to call yourselves capitalist but you have zero idea on how it works on a technical level
@@geraldmerkowitz4360 Ignorance on macroeconomics is absolutely appalling, especially along willingness to "teach" others. I stopped watching at the point where he said gov't debt is the same as personal debt.
There are companies you can use. They pay your rent with their bank plus a fee and you pay them back with a rewards cc and pocket the difference. Look it up, run some numbers, see if it's worth it.
There are middleman companies out there. They pay your rent plus a fee. You pay them with your rewards card. And you pocket the difference. Seriously. Look it up and run some numbers if it's worth it.
The biggest problem which I haven’t seen anyone address is that cutting all of these agencies is only reducing the top tiny sliver of that deficit graph. Where are the cuts going to come from to find the $2 trillion of savings?
DoD, Social Security, Medicare and Medicaid add up to $4 Trillion. To cut $2 Trillion you have to cut all of the rest. Don't even think of cutting SS or Medicare with their own funding streams.
His comment about paper work taking longer to accomplish than the actual work. I'm a contractor for the army and part of team moving a legacy application to the cloud. We've been ready to go into production for nearly a year, but we have to go through all kinds of meetings for various regulatory guidelines. Most of those guidelines are horribly out of date, but we still have to meet them... Just because some bureaucrat says we do.
On the flip side, the security ramifications of moving on premises applications to the cloud are massive, especially when we're talking about a DoD application. Some bureaucrat also puts in place the sensible regulations regarding code review.
I also do contract work for the gov, the procurement process is incredibly bureaucratic and takes FOREVER often 10 times longer than the actual time the project will take to get done
I contracted for the Air Force. I did the layout on a chip that never was intended to work. I don’t know how many man months were used to design it and do layout. When I inquired as to why we were doing this, the only answer I got was that we were checking off a box to satisfy a contract. The I/O pins were done by another guy, who had to learn on the fly about how to do that. He said they were woefully inadequate as he didn’t have enough space to do it right. He then got on a plane to go show the chip to some group in Chapel Hill, I think. They only looked at some of the layout, not his pins. There never was any intention to power it up. The SENSORS LABORATORY here at WPAFB in Dayton Ohio fabricated the chip and encased it in a fancy glass display with a plaque that proudly proclaimed how many transistors were on this chip - that did absolutely nothing and never was intended to.
The paperwork used to not exist as badly as it does now. The Reagan admin's obsession with governmental accountability means that every pencil mark a government employee uses be identifiable and traceable. Like the uncertainty principle, you can have a detailed thorough accounting of everything the government does, or a cheaper operation of government, you cannot have both. Being accountable requires extra man hours and that means money.
@FrozenElite926 except I think the deep state took that idea of recording information for accountability purposes and took it to an extreme to create such a mountain of documentation that it becomes useless as it's impossible to sift through it all. To complicate matters much of documentation will be contradictory since each person filling it out will have different priorities.
the problem is, everybody is always looking at the small employees as the guilty ones, but that is simply not true. they have no choice but to follow the system, laid out for them and it is not their call to change anything about it.
My father worked for the VA when I was 10 I took a pencil out of his briefcase, he said put it back that’s Federal property. We need more of that kind of thinking and respect for other people’s money
by that logic, we as Social Security Numbers are Federal property 🤣🤣 your pops seemed like an honest man that being said. We do need more people with such integrity, and especially as governing bodies.
i appreciate the non biased look and explanations as opposed to other youtubers that just completely write off everything trump does or the ones that just suck on the knob. very insightful
It's good to solve these "efficiency" problems as soon as possible, instead of letting them snowball. Many politicians have the bad habit of pushing problems to the next person.
@@goatfromhell6662016 Trump's entire cabinet were neocons trying to undermine him every step of the way. This time around, his cabinet picks are all people aligned with him, and with both the house and senate backing him, the safeguards are gone and he can do whatever he wants. Whether or not it actually amounts to anything, I guess we'll see in the coming years.
The modern politician's job is not to solve problems. It's to get elected. Their team will be the ones writing legislation and deciding how the politician votes.
I worked in government for 22 years and the amount of waste that I seen was absolutely unbelievable. There's a lot of hard-working good employees but then there is enormous amount of waste, this is a good thing that they're doing with DOGE.
I work for the govt know. I feel you however, I don’t see deep enough cuts in the govt. most the spending is Social Security, Healthcare and interest. There will be much backlash on cutting the first two. Baby steps I suppose
@@lextacy2008 I don't know how it is in Australia. But here in the US, hes allowed to say anything he wants. He doesn't need mine or your permission. And you and I can choose if we want to listen, something you've already shown where you are on that.
You have an objective approach. I am a retired US Government financial and statistical analyst. There is no question that Musk is correct about the feasibility of material US government savings.
@@BobB-w4qI am a far leftist. I think Elon might have some points that our government has some inefficiencies. However, I believe that his reduced spending will have negative effects on the American people. However, we will just have to wait and see. I am all for reducing some spending on defense and simplifying our complicated tax system, but if he tries to gut systems that help the people it won’t be a good thing
It's a commission. It will investigate and make recommendations. If any actual deregulation happens it will be done by elected officials through congress.. He won't be able to directly change things.
but why calling a task force like a cabinet-level department? Even more so, an acronym whose sole purpose is to troll people? Are Americans really so into being trolled by a billionaire?
And you REALLY believe that? Multi Billionare oligarchs who have all Washington DC "elected" officials in their pockets? The ones that have turned you and I into baby killers in Gaza? Just so our Military Industrial Complex oligarchs can make even more billions?
Their goal isn't actually efficiency you know, just cutting social spending so that people stay poor and removing regulations to further enrich themselves
Banning lobby groups? So if I want to get a harmful chemical banned, and my neighbor wants to do the same, it should be illegal for us to work on a pitch for our local politician together?
We have to cut the money laundering as well as the waste. Contracts for the government are usually over priced and no one negotiates pricing and gets ripped off…
You have where the gov tries to stop that also and fails. I used to sell Nextel's. I often sold to New Jersey government accounts. Like police, fire, and road departments. The state had a bid list that was updated annually. It had fixed pricing on it. So let's say I was selling them a device, it would be listed on the state list with a fixed price. I couldn't charge more for it. So in theory no more $100 rolls of toilet paper, but in true government style I couldn't charge less or I could do jail time for it. So they might have that device listed at $100 and each car charger at $25, and the case at $25, I could be selling the same thing to any Joe off the street for free, I would have to mark it up as to not worry about bribery charges.
The Department of Defense has failed every financial audit for the last thirty years. I work with the government and I can agree to the large amounts of waste that is rampant in the agency. The Army just paid off half a million dollars for a new combat rifle that is so riddled with problems that it has been pulled from combat units.
Finally someone is talking about our national debt. Regardless of political party preference something needs to be done to knock down our debt. It's like paying off a credit card balance. The sooner the better.
Yup, question is will the walk match the talk? It's easy to talk about reducing spending, closing the gap, reducing the debt. To get something actually accomplished, that's another thing.
@@davejones8770considering we did the exact opposite of that the past 4 years... should go pretty well From 20 Trillion to 30 Trillion in just 4 years under the Democrats who tax their citizens indirectly through debt and inflation.
@@davejones8770 Not really. Exposing it in the big way that Trump is doing it with Musk and Ramaswamy is really all that is needed. People will be absolutely shocked at just how much waste and lack of accountability there is and protest with their votes.
I ran a tiny company in which each person performed the tasks he was paid for. Period. We were incredibly efficient and knocked the crap out of the competition, where inefficiency was rampid and blatantly unnecessary. All it takes is common sense and the freedom to implement it for the benefit of all.
You should try working for corporations. They have so many inefficencies. But nobody talks about them. CEOs keep them hidden to keep their big bonus checks and then bail.
I am a former government employee who quit after 5 years from seeing the enormous waste that my family, friends and my tax dollars were paying for. I will support anyone willing to dive into the broken system of government to find a better way.
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Social Security should not be shown affecting the deficit. At least as of now all social security recipient payouts is paid directly from social security deducted from working tax payers. It is not part of the deficit.
The reason Social Security is included in the debt calculation is because the Social Security fund, which by itself runs under a surplus, is routinely raided by the US Government for funds to pay other debts.
@@ibnorml5506well it’s more like the Trust Fund loans out money to the government with interest. Which adds more debt to the nation. We are literally in debt to ourselves, to foreign nations, to retirees, to future generations… we are a debt based society
Transparency is the best idea ever. No more faking stuff, no more pretending everything is okay. Those afraid of transparency you know they're doing something shady. No more pocketing taxpayer money and getting no value out of it. Gotta get value in return.
yeah just like he stuck to his transparency on twitter and when he said any major platform changes would be subject to polls and votes, and then they just weren't lmao
Hussein-Obama promised transparency, campaigned on it. We all know it didn't happen, the ACA passed without it ever being read by those voting for/against it, recall Pelosi's statement "you have to pass the bill to find out what's IN the bill."
Waste and inefficiency, are basically the (informal) definition of “bureaucracy”. This is one of the reasons there are so many who support the idea of “smaller” government.
@@Sinaeb In this case it's conserving how it used to be. Meaning before the government got so bloated with hundreds of unregulated agencies and bureaucracy. American conservatism is based on conserving the rights and freedoms outlined in the constitution. Current bureaucracy has removed a lot of those rights with unlawful regulations.
@@arbjful Incorrect, The Federal Government (according to the constitution) cannot take on extra jobs. That is relegated to the state governments to decide. In other words the current government has overstepped its authority by making more departments. The reason the constitution doesn't allow these departments is because they are not elected. "By the people and for the people" is the number one founding principle. Laws are allowed not regulations. The idea was if you disagree with a policy you vote out the people in charge. With regulatory departments the people have no option to remove those responsible.
@@enolopanr9820agreed however it’s Congress that’s the issue and state govt. Govenors want these weapon systems produced in their district…essentially a jobs program
@@enolopanr9820The military is a necessity. I think looking at wasteful expenditures within the military is important. For example: taxpayers should not pay for a sex change for anyone serving in the military. Also, we need to look at higher standards for those entering into the military. Excellence in IQ testing and fitness should be a hallmark of all armed forces. Quality of military personnel over quantity will be important especially as technology advances.
@@joematties7557 Oh yeah tell me how spending a billion dollars on a single b21 raider is a good idea and an efficient use of money. A BILLION DOLLARS on ONE PLANE.
I agree it's different... But... In the same way printing money to pay off debt will cause inflation, a person incurring a growing mountain of debt, any income becomes less and less effective and valuable. Your income, your wallet, becomes less and less valuable (supposing you never made payments).
@@nathanpatera9836 nah, its not comparable. Theres definitely too much debt for a country, but there can actually also be too little. I live in Germany and we have one of the lowest debts in the EU. The problem is, that by saving too much, we are missing investments in our infrastructure and education. And because of this, we are also causing inflation, because our electricity generation e.g. is expensive due to lack of investments. This again worsens the entire landscape for our private companies, since they have to produce at higher cost - which again increases prices.
Brandon this was a nice video summary thank you. It’s missing covering one big gaping hole though. I agree with Luke Gromen’s assessment that if they don’t devalue the US$ first before huge spending cuts then we’re likely going to see a huge sell off in everything bar the $ itself. One of the biggest investment risks in 2025 imho
Since the debt crisis could unleash carnage on the stock market leading to economic downturns. We need to be prepared for potential market volatility. how can I secure my $80K stock portfolio against declining?
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
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Roughly $120K in my portfolio are in tech/TSLA stocks, can I get an advice on any other stocks that I can acquire to diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession-influenced market, but to the best of my knowledge, it was through an F.A
Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
Tech is always high risk, high reward. Maybe you could try something like McDonald's or something from the health industry like Novo-Nordisk who produce insulin and such. I'm still hoping that Nike will go up again. I don't know too much about the stock market and can't give you any hot tips. You got to make your own research unfortunately. I also heard people say that the oil industry will be interesting after Trump's win. Same goes for the ore industry because nuclear power plants need very specific resources of course and many people still build them (except for my stupid german government).
I have a friend who worked for the federal government in the payroll offices for a branch of federal employees. At the end of every year they had millions of dollars left over so they went out and bought millions of dollars of office furniture they owned warehouses all over the East Coast filled with furniture that they will never use all to not lose the money in their budget
Sounds unreasonable to do that..... It only means that some money printing project expands, but then that demand for the products..... Depends on how the economy responds to shopping and support infrastructure..... Something that is easily refundable.
We could save money if we pay the president, the house & senate by their productivity, and how many hours they work. They should be part time and pay for their own retirement & health benefits
@@AnotherPointOfView944Trump is the only President who donated his salary. He didn’t take a dime to work. Additionally, Trump is a workaholic. He likes to play golf from time to time, he’s allowed a day off. He spent most of his time working.
@@AnotherPointOfView944trump also doesn’t take home a paycheck. He donates his wage. Bidens spent more time doing nothing than any other president in history.
For all those confused. SS is not part of your income tax. It is not part of the general fund. It is a separate, private, retirement fund that you pay premiums into as a payroll tax. Reducing it, or even eliminating it will not reduce the national debt by 1 penny.
The problem with SS is that its funds were used to buy Treasury bonds. Its assets are US debt. That is how it was used as a piggy bank to fund overspending. If anything happens to devalue US treasuries, it will implode right along with everything else.
Money is fungible, and it comes from current production. When your generation committed genocide on its own people by murdering 60M of their own American babies and chemically preventing twice that, it destroyed the nation who was slated to pay your SS benefits. You can’t get blood from a stone, and you can’t get monthly checks from people who don’t exist.
It's not a fund. It's a ponzi scheme. There is no actual account for me, other than an IOU that someone 20 years from now is supposed to pay. Every dollar we put in this year goes immediately to someone withdrawing their SS payment.
Which in theory makes sense America wants to become less dependent on Chinese cars also having Tesla succeed is better for the American people more jobs also a local brand much cheaper
@gamers-xh3uc no their not. The cheapest tesla is like 39 thousand dollars and the average production workers at tesla make a little over 50 a year in locations that surviving on that is almost impossible. He's not really helping Americans whatsoever. He's helping himself become more rich and power and he's helping his friends become more rich and powerful. That's the problem you have all the worlds wealth in the hands of a few people.
He just might not trim government expenses toward electric cars and space programs. Of which, most Americans are fine with our relative let small space spending.
Most congressmen own the companies that makes arms for the military then create wars! Is that a conflict? Get your head out of your arse. Conflicts are always there!
I do believe that it can be risky but I also believe we need a business man/s to do this because those people live and breathe as cheap as possible and are probably the best you can get to cut spending just have to check them and make sure they don’t get ideas
Would you please explain how this is a conflict of interest? I could see that being probable if he was being appointed to an agency that regulates the business that he owns.
No it isn't self funding. Social Security has become a general welfare program, many people receive it that never paid a dime. The SS tax that you and your employer pay goes into the general fund, and an iou is issued after they take the money and spend it. Where is this 'fund' where your lifetime SS payments are being held for your use when you retire?
I hit $113k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
It's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Evelyn Vera. for years and highly recommend her I focus on him. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
Since the debt crisis could unleash carnage on the stock market leading to economic downturns. We need to be prepared for potential market volatility. how can I secure my $600K stock portfolio against declining?
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a coach or other professional for advice.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it. - Thomas Sowell The fatal attraction of government is that it allows busybodies to impose decisions on others without paying any price themselves. That enables them to act as if there were no price, even when there are ruinous prices - paid by others. - Thomas Sowell
Sowell misses the point like so often. It is not about having the bureaucracy, it is about implementing rules that regulate it in a meaningful way. Almost every country in the world does that. Only the US have this crazy system with these insane prices. I mean it is a great subvention for european medical companies and I hope this goes on forever, but for US citizen..
the fact that a congressman/woman makes an Avg of $174,000 while a US service member barely makes $30k is part of the problem. they waste so much time yet if we reduced their income i guarantee they would get their asses in gear and deal with the peoples problems more effectively..
a cut-reduction wouldn't make them move quicker lol it'd make them pissed off and move SLOWER. REMOVING THEM(some how/some way LOL) would make them ...umm....CATCH THE DRIFT. THEN, they'd move faster.
There is an argument to pay them more. Pay more, attract better candidates, increase competition, and standards will naturally rise. I am not 100% convinced of the argument, but it does have some merit.
Congress should ban Congress owning/trading stocks and doing private business. A huge pay raise should also come with this. They don't care about the $174k salary when they can rake in millions on the side from insider knowledge and money from lobbying. If they were making fuck you money in salary, that would help make them vote on their conscious instead of their dark money interests.
@@SputnikCrisis There's the biggest thing that needs to stop. Lobbying is technically unconstitutional. They should be forced to vote the way those that they represent want. But most politicians don't. Outright lying to get elected used to be punishable by jail time and seizure of all assets. Lets bring that back.
Nearly 66% of the US govt budget every year is non-discretionary, meaning its non-negotiable by congress and used on things like social security, medicare. I’m all for slashing waste, but how does Elon actually plan on reducing spending by 80% when the real problem are the payouts that will get Trump kicked from office guaranteed? I don’t think one senior citizen will vote republican again if their SS or benefits payments get slashed
Having worked in a government department in the past, it's stupidly inefficient. I used to complain that there were "too many chiefs, not enough indians"; me as a single worker had 4 bosses to report to - none of whom agreed with each other. A lot of time was spent getting them into a single room to agree on a path forward. This was a symptom where government departments tended to transfer people who were incompetent rather than firing them. To be honest, a blind person throwing darts could identify and fix inefficiencies even in mandated non-discretionary work.
@@milisha98 And all that inefficiency was, as OP stated, in less than 1/3 of the budget. Most of the budget is Social Security/Medicare which are very low overhead programs where almost the entire budget is paying out benefits. Further, over half of that remaining chunk is military spending--which neither party ever wants to touch. So, really, there's only 15% tops of the federal budget even in play for cuts. It's almost like the problem is the US effective tax rates are incredibly low compared to other countries like us because we stopped taxing people like Elon in 1980 and never resumed.
@@tHebUm18 social security isn't really an issue unless we're talking about people accepting benefits on behalf of dead people. Medicare is subject to billions of dollars of fraud annually. Medicare is a slush fund of corporate welfare. Medicare is the reason for medical inflation just like student loans cause tuition inflation.
That's a problem, and woefully it's unlikely to be solved. But ideally people who can't be soldiers or aren't ultra-rich shouldn't vote in the first place. But even more ideally is to get rid of democracy and just become aristocratic republic or monarchy
The corporations and banks that were able to monopolised under the capitalistic free market system called neoliberalism. They own and control the governments because they have been bought and paid for through the lobbying system.
Social Security is not revenue it's a liability and should not be touched for government spending. That is one of the big problems with the government.
Please research Elons destruction and waste of his own government subsidies and contracts he has in fact lied to the gov about. His secret meetings with Putin and others, his belief in a new world order and his massive losses and grifter/con tactics and inflation shares and company values for personal gain. Please my good intelligent US mates… before recommending this liar and cheater who is in fact not even an engineer he has no actual degrees and invented nothing he didn’t not found Tesla or PayPal and actually designed only one component of the charging outlet for recharging teslas. He is tge worst thing you guys could ever do for your country. He is a FRAUD
Thanks for watching guys! Let me know what you think of Elon's plan - are you all for it? Or do you find it to be a conflict of interest. I'm interested to hear your thoughts!
Also (getting ahead of the comments) - I know Dana White is the CEO not founder of the UFC... just misspoke.
If elon cuts the debt it will cause the dollar to get stronger and cause a global dollar shortage. People fear hyperinflation in the united states. Probability is less than 1% but why? The dollar debt is not in physical dollars. It's been loaned out by banks. Commercial banks are 95% the guts of the global monetary system
The last 40+ years of Republican tax cuts for the obscenely wealthy have given us almost all of the current national debt and deficits. Republicans have it so that billionaires pay about one third the percentage of their income in federal taxes as the average family that works for a living. We do not tax the wealthy in this country to the extent that they should be taxed. All the huge profit margins of companies come directly out of the pockets of the people that work for a living and go right in the pockets of those who don't, the wealthy of our country. "Trickle Down" is the biggest scam in the history of the world and that is why we have the deficits and debt that we do.
How about instead you get ahead of the bot comments and start doing some cleanup instead of letting scammers own your comments section.
I would start with the subsidy for tesla 🤔
A master class in sane washing the insane. Elon is a lunatic and shouldnt be left anywhere near government control as a business man (the fox running the hen house scenario). If you really care about government debt, its easy: bring back the Green Back dollar, a dollar without interest attached. You dont need elon musk to do that. He's a spoilt brat who more than 1 screw loose.
Many government employees are taught to use every dollar allocated each year or risk losing funds next year. That is one practice that needs to change.
Yup, when I was working at the VA, they were spending on junk just to use up the budget (as a tax payer, I was pissed that my tax money was going to BS junk)
That happens in private companies too.
@@ACT4UCF don't tell them that. Obviously the multi-billion dollar international companies are looking out for their best interests...
I knew a nuclear physicist who worked for the AEC back in the '70's and he told me the same thing. Near the end of the year they went on a spending spree to spend all the money bugeted to them so they wouldn't be forced to reduce the budget for the next year.
Even cities believe this. I have seen it. sick.
I was once called off the job to drive 20 min. to the county office 3rd floor, carry a form downstairs to an employee in a tiny office who looked up my tax record ON THE SAME COMPUTER SYSTEM that the form was printed from and stamp the form "taxes current." I took the form back upstairs where they added that update to THE SAME COMPUTER SYSTEM. I asked why the system didn't just update itself and was told "If we did that, the employee downstairs wouldn't have a job and her manager would lose headcount."
Reminds me of this one really interesting TH-cam video, I think it’s called “useless jobs”. Basically list a bunch of jobs that have no business existing in government jobs
Wtf that sounds even more stupid than our german chancelor Olaf😂
They have to spend budgets and run short to continue to get increasing budgets in case they need it. Reminds me of a factory job I did once where I got taught to work slow to allow time and motion to allocate more time per product in case someone else was slower or something went wrong one day.
So sad. Great example!
Government parasites. Too many of them.
Replace the "spend it or lose it" budget mentality with a rewards for savings budget mentality and the federal debt drops like a rock.
get that "use it or lose it" mentality at the municiple level too
This needs to happen at the state and local levels too.
@@ebinrock So Elon Musk creates massive unemployment then says, all you NASA scientists can bring your hardware and intellectual property to Space X, all you unemployed bureaucrats can learn to install Tesla power walls, all you unemployed FBI and CIA can work for my personal security service. All hail Emperor Musk! ( cue the Darth Vader music)
We have that at our company.
All the departments are slowly starving, because the people in charge try to save AS MUCH AS THEY CAN to get as much of a bonus the end of the year lmao
@@koller8930 So Elon Musk creates massive unemployment then says, all you NASA scientists can bring your hardware and intellectual property to Space X, all you unemployed bureaucrats can learn to install Tesla power walls, all you unemployed FBI and CIA can work for my personal security service. All hail Emperor Musk! ( cue the Darth Vader music)
I think the best way to start balancing the budget is to stop giving humongous tax cuts to entities that don't need the money in the first place.
How about the FED stops printing money out of thin air.
@@CryptosifuThey need to print more money now that they are cutting taxes.
Quit giving billions of dollars to the same companies year after year while others get nothing
Taxes do not fund the government.
if they did, explain why the national debt has never gone down 1 cent.
Taxes go to the federal reserve as interest for using their fiat currency as legal tender, tariffs, excise taxes and borrowing more from the federal reserve is how the country is funded.
@@thomas-k2k8w exactly
I wonder if Elon will go to Boeing and say " hey we're not paying any more of these 4,000% markups for parts anymore..."
Boeing is alreay palnning to shut down their space department.
@rajkumarbharathi3139 it doesn't matter. Boeing sells replacement airplane parts to the military that costs them pennies to make, they sell it to to government for thousands of tens of thousands of dollars... But Elon will have you believe that it's the national parks, the food stamps, the environmental regulators that are wasting your money.
He’d need a few more bodyguards before he does that…
@@rajkumarbharathi3139 he’s talking about the military components
💩,no
"Elon - because he's not very busy..." Best line.
Was that sarcastic?
@@KateHikes666no. He speeds most of his time tweeting.
HR Department: "We hired this candidate - because he's not very busy..."
I heard that too. All that's going to happen is Elon will be lazy and run each budget through AI and cut where the computer tells him to.
Idle hands of the devil ....
Encourage government workers to anonymously report waste. Doing nothing is not a option.
They're not going to tattle on themselves.
You get fired for reporting waste. I saw it happen
This actually worked at the VA in Trump’s first term
bruh i was in the navy and I worked on a radar. The fans that cooled the circuit cards were 10k each. They are basically the same fans inside a desktop computer. There were like 20 fans. They also broke every year like clockwork. "MIL" spec fans lol
This option already exists. There is annual training for federal employees on the process.
The crazy part is the government never gets denied for borrowing money... we do.
People don’t live forever. The government does so has all the time to pay it back.
@@Hueyck Yeah like Greece
@@paul4381 except the US has it's own currency and can always pay. It can always decide it's interest rates and never runs out of money. In fact it does not even need to borrow. It can just pay. Forever.
Its true but banks all know one thing thats is very true. If the US cant repay their debt, the world economy and the banks with it would be doomed.
@@paul4381you don’t see any differences between the US and Greece? Greece is basically a colony of the EU
As a 30+ year military veteran/federal employee, the list of nonsense expenditures never seems to end. There were congressional allocations for training and equipment that we had no choice but to find uses for which were completely unnecessary.
8 TRILLION under tRump. Not just COVID, 1.7 TRILLION per year.
So why does the deficit always increase with republicans in office? You know trump raised it by a tremendous amount but only dems are bad with money right?
key word: congressional allocations. Almost none of this can happen without congressional buy in
I did the military, contractor, federal employee thing and got burned out on the laziness and corruption. The big weapons programs suck up so much budget for so little return. Then they nickel and dime the lower ranks and their personal weapons and gear. I went to Iraq with 3 different colors of camouflage, a 30 year rifle, and defective body armor.
My favorite thing was the $2600 desk chairs that were always both brand new and broken at the same time.
Part of the problem is departments must spend their entire budget to get that same budget the following year. If a department doesn't spend the entire amount, use it to pay the debt. Companies do the same stupid thing. They cut budgets when they don't spend it because apparently you didn't need it.
Exactly
Definitely a perverse incentive
That's the Cost+ mentality. I suspect this will be a main talking point since the SV types abhor this method.
What's sv?@@daviddavis1322
This is true in corporations too. It's the main way they show their value is by the size of their budget
It’s amazing really. We have a financial crisis, caused by greedy, reckless financial institutions. Congress passes legislation requiring those institutions to be less greedy and reckless. The institutions then lobby to have those restrictions removed, usually in the name of “remaining competitive”. This leads to another financial crisis. It’s completely predictable, and we have been doing this dance since the Great Depression almost 100 years ago.
Agree; the rules should be applicable to all banks - big or small. First; very few meaningful laws are passed and then this cycle of doing-undoing seems to support deregulation risking the economy and the faith in banks.
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I’ve actually been looking into advisors lately, the news I’ve been seeing in the market hasn’t been so encouraging. who’s the person guiding you?
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Thank you!!! FINALLY!!! Reduce Gov spending of our taxes and preserving Social Security, Military, etc, spending.
Non-discretionary spending (social security, medicare/medicaid, and interest on the debt) makes up about three quarters of annual spending. About half of the discretionary part, which is the part that congress argues over every year, goes to the department of defense. The remaining half of a quarter runs _every other federal government function._
The discretionary budget is 1.7T. The current budget deficit is 1.8T.
Musk comes from an environment where things like payroll are a large part of a company's outlays, but that is simply not the case for the federal government. At this point we literally can't have a balanced budget without raising revenues or cutting social security and/or medicare/medicaid.
My father (an electrican) once did some work on a local military base where they had several helicopters running idle on the tarmac. He asked someone why they were just sitting there running and they said "they need to use up the fuel becuase if they dont then they wont get the funding for it next year."
Wooooowwww wtf!
In some Australian government departments this was true - they spent beyond their budgets (unplanned, unapproved) and then used that as their baseline for arguing for money in the next financial year.
Musk’s plan doesn’t touch military spending
Wow, just wow.
Yeah and then if you find out they are using it irresponsibly and cut the budget people will say you are anti military lol
As a federal employee, I can tell you the amount of money essentially thrown away is staggering. Price gouging, misallocation of funds, and trying to spend the entire budget are some of the biggest leaks in money.
As a federal employee how will you feel when Elon decides to cut your department and eliminate your job?
@@canadianstackerIf he's one of the few competent employees, I'm sure he will be fine.
@@canadianstacker I doubt Elon is going to cut the army out of the budget 😂
Also just don’t add any more employees offer retirement
@@elterga6224 Since the new administration is going to rely upon the military for deportations, I suppose Trump & Musk are going to ask you to round up migrants and deport them. Enjoy the screams of crying children & the anguish of distressed parents. But at least you'll still have a job & it won't get eliminated.
I've got about 15 coworkers at a school district that could be cut with no noticeable impact. 1st one on the list is the budget manager who makes 200,000 a year and gets 6000 yearly raises, while telling cleaning staff to use less cleaner because it's not in the budget. Its run just like our government. POORLY
Um the budget manager is probably one of the most important employees on staff, fool
It's run just like our government, because a school district is part of the government, they are funded by local, state, and federal tax monies.
@@talloak051 you must know him pretty well
I am retired civil servant supervisor of over 250 people. Concur 100% 10-20% of the people could be fired and have absolutly no impact.... In fact getting them out of the way would probably make the others who actually work become more efficient by not carry the dead weight of the first 20%.
@@talloak051 a budget manager isnt worth 200K.
Drop Congressional salaries to the median income of their constituency. It'll bring a level of reality to spending.
Underrated comment
Welp I can’t say this isn’t worth a try
I am a government employee. The inefficiency in government is truly unbelievable. So much waste. I work in public safety with aviation. I use equipment that is older than I am (and I am closer to retirement than the start of my career). Better equipment and methods exist, but procurement and onboarding is a joke.
The problem is that money is debt and the debfiatmoney are usually created by private banks.
They then ontop add interest like 4%.
But the never created that 4%.
It makes a shortage of money going around that we are still expected to find working 2jobs scraping by.
Pretty evil ,but smart.
i can't believe im saying this, but the creation of this department gave me actual hope for the United States government
If your loosing money you better find a way to stop the bleeding or your out of business.
Chinas infrastructure is only 35 years old while American infrastructure is over 150 years. Some people want you to think that Chinas bldg practices are unsafe because they dont have the safety standards, untrue.
Their not held back by unions, their people are eager to work.
TREASURY will create and use DEBT FREE US NOTES as was done by Lincoln and during Revolutionary War, Jackson paid off the debt 1837 only time in history a major power paid its Debt.
Notes will be tokenized and digitized, maturing bonds will be paid with this new form of DEBTCFREE money.
30% of debt is due in the next TWO YEARS this is why THEY let Trump win ! But he will fu@k them like Jackson did. 70%+ of debt will be paid in four years!❤
So thankful to God I don't live in America.
I saw a video where we paid 90,000 for a bag of bolts from one of our military contractors. We need to change that shit too.
That’s one mechanism the government uses to get tax payer money to support secret operations. Pay $90,000 for a $5,000 bag of bolts and the $85,000 delta goes to the secret op.
source and proof?
Good question, i can't answer it, but i can confirm i saw that video too.
There are reasons.
Required inspections, certain alloys, specific dimensions with very high tolerances and so on. It’s not a bag of drywall screws.
@Flaminghotfire666 it was a video on the senate floor
I’m a US Army veteran and I have served 21 years in federal civil service. I can say it’s an absolute fact that 1/3 of federal employees do all the work, 1/3 do the bare minimum, and 1/3 does nothing at all. It’s nearly impossible to fire a federal employee and this is the number one factor causing inefficiency!
This happens in all companies
1/3? My experience is FAR less than 1/3 of employees do all of the work . . . more like 1/8th and don't forget that the people at the top of each agency make the most and do the least
You can fire ALL employees and not save the money Elon is trying to save - not even close. He's going to take it from you, not the government.
I work in the private sector and layoffs always scare me. People I know who work in government always say "Get a federal job, you'll be set for life and you won't be scared of layoffs." I see why now. Their employer can just print money no matter if they're hitting their metrics or not.
Every line of work has inefficiency. I know plenty of people who work in the military and in the federal civil service and do a fantastic job. 2 million people service in the military world wide and 4.5 million work in the civil service mostly in the US and some abroad. I have zero exposure to all 6 million of those people to breakdown who is doing their job and who is not. Doesn't mean we can stream line but we should all avoid allowing our experiences to form our opinions when our experiences don't expose us to all of the people who work within the system.
People miss the point Elon is making. When he talks about reducing regulations, he's not (usually) talking about doing away with safety standards, financial safeguards, or environmental protections, but rather talking about removing the redundancy and overlap first, then looking at whether the remaining regulations actually serve the purpose they were intended to address and whether there might be a better approach to achieve the objectives.
In my opinion, one of the first steps is to get rid of ALL lobbyists. Those people are there to influence our government to spend money and usually high cost so they can get their cut. If our government needs jobs to be done, then get estimates like businesses do. Then hold those estimates to account... no changes and no over rides. Accountability on ALL sides.
this is the only way to have true real democracy. unfortunately the powers that be are likely too entrenched within the system
YES!!!
Lobbying is a fancy name for bribery .
it’s impossible
Lobbiyists are not employed by government, Lobbists are hired by "for profit" companies to disaduage the congress to pass any regulations, so that they can loot the public. That said, you can not eliminate Lobbists, but if you bring in transparency to Governance, then the size of the Lobbist pool shrinks.
I used to work for a government contractor. For a period of 2-3 months, I got paid to sit and pretty much do nothing as the project had no direction and they needed to allocate somebody to burn through the rest of the contract's funds. It felt so morally wrong and I had the itch to do things that wouldn't just end up sitting on a shelf to collect dust, so I quit and have zero regrets. Income tax is just a vehicle for the government to needlessly spend.
8 TRILLION under tRump. Not just COVID, 1.7 TRILLION per year.
Everywhere the same...
So you worked for a company committing fraud but chose not to report it
@@porthosduvallon5301 Exactly haha this guy scammed the government
@@porthosduvallon5301 what fraud? Do you know how government funding works?
The concept of burning through a budget for more funding in following years is precisely why there is so much waste.
The government is in the same bed with these contractors, so do you really think they would care to listen to somebody like myself? Haven't you seen how the government operates? Lol.
I like how Trump joked to the cameras that "Elon is so great and he has been in Mar a Lago for so long.... I cannot get rid of the guy"... lol
We had a similar situation at the university where I work. The organization was headed for a financial cliff. They brought in a business exec who specialized in rescuing companies. He did a remarkable job getting the finances in order but this earned him the wrath of the faculty and he was driven off in less than a year. Everyone hated him but he saved the university and got in a position so that, during COVID, no one lost their jobs. This was only possible because people were FORCED to change. No one wants to give up anything for themselves EVER, but sometimes it's the only way to avoid bankruptcy.
I decided to scale down when I couldn't get a decent job, and went into retirement. I did the numbers and decided how much I could spend each day. I gave up cable TV, expensive lattes, went to a cell phone plan that that had a hotspot to run a smart TV, movie subscriptions, and took a chance giving up house insurance. Watched the sales and bought accordingly. Do my own hair. Grew out my own nails, turned up the heat in the house and found out I never got sick so I had no medical costs. Paid off my house early so I have no mortgage interest costs. I rarely give two charities but I tip 20 to 25% to servers because they are working. And I always tip the gas station attendant because we have the option of service. If I can do it I do it. My own lawn work, some electric work. Change The light bulbs and filters in the car. In other words, I looked at each expenditure and whether I could reduce it or eliminate it. Here I am almost two decades later and I have no debt. I don't pay interest on anything. I've saved tens of thousands of dollars So I can buy the next car in cash if I need to. When I go shopping I look at other people's carts and the trash that they buy to strew around their houses which will be in a landfill before long. I don't do that. I just got voted on the the board of the HOA. Now I am looking at every line item of the expenditures, the budget And I see a lot of waste.... to pare down or eliminate.
@@rm-gh1co I sure wish this was just about the economy!! I do all of the things you do and have for 50 years, but I am still just living comfortably and will soon have my home paid off. I still have home insurance and property taxes to pay however. Counseling people to do without insurance can produce devastating results. Just because you are lucky doesn't mean that disasters don't happen to others. I am just as concerned about the dictatorship that is transforming in this country. While we are all worrying about the price of eggs the Orange God is destroying our separation of government and wants to cripple us on the world stage with isolationism. Face it, we are part of the big picture, the world. Sticking our heads in the sand and pretending nothing surrounding us matters will someday come right to our door steps.
"took a chance giving up house insurance. "
@@michaelsmith4904here, we have too many tornadoes. If your weather is stable there, I guess you can do it.
Yup, it's a leader's job to make the tough decisions that are best for the long term even if they hurt now. Fixing things is never easy, else we'd have already fixed it.
Gov has known about their excess spending always. They just have politicians who are getting paid to look the other way and ignore it while they get rich and the american tax payer goes broke.
@JediObiDave
Yep and when this country fails they will have the money to leave.
The country has serious problems which need money to be fixed. The one thing that is seriously bloated regarding the US federal budget is the department of defence. Take your time and look at the federal budget and ask yourself: "where do we need to spend more and where could we save a little bit?"
You could cut the defense budget by 1% and alsmost double the budget for "national science foundation" or the EPA without spending a dime more than before.
And now you will have trump, musk, and many others getting paid to regulate their businesses. Fox in charge of the henhouse.
well obviously because there is no negative consequence to them personally if they waste money, they get paid either way so why not just do it
The hilarious things about your comment is even if the US Gov can reduce its deficit to the point of actually gaining a surplus, and then use that surplus to pay back debt its not going to benefit you in the slightest.
Government: "Hey, we took about 30% of your income and we wasted that money already... give us more money for these bonds and we'll do better??"
60% of the bonds go towards people’s retirements. I don’t think you musk lovers actually understand how the government debt works
No they pay you interest if you buy bonds you do it to make money.
Exactly. Elon's brilliant plan is to automate the government after firing 80% of the staff. This is technocracy on crack. A lot of people work for the federal government. The quickest way to UBI and complete control is through this bozo.
Worst part of it is the outflow due to interest in the accumulated debt.
I wish they only took 30%.
Maybe the best structure for talking about politics unbiased. All of these people in Trumps 2nd administration deserve more transparent media like this. Incredibly informative, wonderful video lad 👏
If the gov collects 35% of its revenue from social security taxes and spends 22% on the people who pay those taxers, how is it possible to run out of money to pay social security recipients? Unless, of course, that social security revenue is being spent on other programs.
Social security goes straight into the general fund and mostly just pays interest in the debt.
They take more social security than they give because it is supposed to go back to american taxpayers after they retire. A 401k works similarly but it is entirely privatized and optional and allows you to influence it whenever you want.
The Social Security trust fund lent its excess to the Treasury while boomers were still working. The Treasury is repaying this loan now. Social Security taxes (FICA) are not enough to pay benefits now. Once the loan has been repaid, Social Security will not have enough income from FICA to pay full benefits. Benefits must be reduced or taxes raised or some combination to prevent the reduction in benefits. The money wasn’t stolen. The loan is being repaid.
It is. In fact Social Security benefits have been used for years. At 35 I was to receive $1340 a month retired at 60. Now the projection is at 75 my retirement will be (if I live that long) $550. My mother in law was paid the same amount for working for 6 months at a $1.50 an hour. Every American who has put money in all their lives have been robbed blind.
They broke out Social Security and Medicare under the spending but combined them with payroll taxes. Add them up, its 36% being spent on Social Security and Medicare.
While a US Marine, I worked on radios and antennas, a lot of the items we could fabricate from parts on hand especially the antennas. The cost savings would have been in some cases 90% but we were not allowed to. In one case the part we would have fabricated would have been better more durable and would lasted longer. The part we were forced to use was designed to break to force replacement. Just to light to do the job. Each antenna needed 3 to be set up. Cables had to be at least 50 feet long or was scrapped, if damaged could not cut or splice had to toss. And yes we had to totally spend budget or it would be cut the following year.
No wonder they broke on us so much in the field. Damn.
I was in ATC communications in the Marines. We had 5-10x markups on basic items like tools and hardware you could get from a Home Depot which really has nothing to do with safety. Granted by the time i got out they had shifted most everything to unfixable and need to be returned to the contracted vendor to replace. I don't know how the contractor relationships work, and I understand some of these supplies are extremely specific and need to be marked up since they aren't sold to anyone else but the military, but at a certain point their needs to be SOME amount of care for how tax dollars are spent.
thanks for that story and your service. It's always great hearing firsthand stories of how corrupt our government has become, even when faced with common sense like you presented.
That's the way it's done with most companies. If you don't use up your budget this year, it will get cut for next year! That's how the bean counters think.They have an incentive to do so. that is capitalism, maybe not at its best!
Yea we can definitely cut some defense spending and be totally safe from foreign threats as we stand - we have so much buffer time incase war actually looms
"If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around them will deprive the people of all property until their children wake up homeless" - Thomas Jefferson
Facts
How spot on was TJ? He nailed it.
Happening already.
His words from the countries founding are becoming more and more true every year. I’m 100% with him anti-federalism is the way we should have gone
Yes, and we've just elected two billionaires who come from the corporate world and own lots of property. Americans just sold their future to Musk.
The spending compared to GDP is not high. The tax income is low
The US economy cannot survive without continuous credit and debt creation. The FED will print more money and the average American will go just that much further in debt. Meanwhile, foreigners lust for the greenback. Their economies are in worse condition than the US... if that's even possible. Someone is going to be left holding the bag...
Gold might crash in a liquidity crunch, but many precious metal holders are prepared for this and unlikely to be forced sellers. The paper market would tank and possibly collapse. Hearing from an experienced investor who has overcome adversity is motivating. It can be scary when your portfolio turns red, but if you've invested in strong companies, stick to your goals and continue growing them
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Impressive can you share more info?
Certainly, there are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Aileen Gertrude Tippy’’ for about five years now, and her performance has been consistently impressive.She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
As European I dont understan why the US has so much debt. No public healthcare, no parental leave, no long sick leave, old infrastructure…..where is the money going
We spend about $3 trillion a year between Medicare, Medicaid, and Social Security, adding up to nearly half of all USFG expenditures. The Pentagon, VA, and DHS together eat up more than $1 trillion. In other words, about 2/3rds of the budget goes to either entitlement spending or "national security".
@@eugenesteinbeck9469 its interesting that youve forgotten about military spend
Money is largely wasted because of budget cut fears. There is a "use it or lose it" mentality with budgets, and they are also grossly inflated because companies that sell to the government usually get some kind of exclusive contract that allows them to mark up prices by exorbitant amounts. A single trash bag could cost the government 5 dollars or more because of these contracts
We need to cut wasteful spending on nato
It gets put into public services that most people will never benefit from and are so grossly mismanaged that it bleeds money. It all goes into bureaucracy, paying people to put a stamp on things. The money that does reach people goes to single mothers who don't have to work or produce anything because the government pays them to stay home. These people don't pay taxes because they don't make any income but we will gladly pay to feed them, house them, and get free iphones. It's both the government spending money just to spend money, and half our population paying the other half to not work. People think that just because we don't have public healthcare like the EU that there aren't public options or networks. That's simply not the case. We give an enormous amount of money to people, most aren't even US citizens. We import millions and millions of illegals every year and pay for free housing, free food, free utilities, and sometimes vote in federal elections.
I’m from the UK and I’ve had 3 government jobs. Most days I did about 30 mins work. Not exaggerating I promise you. The government love wasting money
Same here in Canada. I use a gov job to do my school work while getting my degree since there's nothing to do.
Ron Swanson is that you?
no you didn't.
No difference at most construction sites
Yooo, keep it down. We have a good thing here
Well Done , dude. STAKE. Priceless, seems you have spoken with my Son. Daniel. . I have told him , how I stumbled over your channel.
If there are concerns about Musk being in charge of regulations because he owns businesses, shouldn't that same argument be used for our members of congress that buy and sell stocks? 🤔
Congress voted to keep themselves doing that not insider trading. They also voted against term limits. Wonder why?
Both are bad. Two wrongs don't make a right
We are building our product which is inkless printers and we are seeking for a Investment.
I think most people never thought about inkless printers.
*Through family members mostly.
And yes, both are bad. It'd be great if people were more consistent on this issue.
Many in congress have gotten rich by having insider info. Look at people like Pelosi who make a fortune in the markets with this info. Just be ready for all the resistance to doing these things. The old saying- if you want to get rich, start a business. If you want to get really rich become a politician in government.
It's absolutely insane to talk about him having a vested interest and affecting policy when our entire government is set up that way through politicians being lobbied by corporations and their money
Literally so true should be top commenr
Elon will never even consider raising corporate tax. It’s a selfish world where the rich create the game
Just goes to show nothing is going to get better, just more of the illusion
BTW, I don't see anyone here naming the last president who gave us a budget surplus.
@@jobhiojkpClinton
Departments that don’t spend their entire yearly budget should be rewarded not penalized with lesser budget next year. This will promote fiscal responsibility, who agrees?
Elon Musk, he actually literally said this during the "if they know they will get fired, they will instantly spend your money more wisely" part, i think it was right after that, but not shown in this video
No cutting a budget is not a reward, he plans to cut out the whole department, much better.
@@raterman4624 Who determines "more wisely". Mush spent $44B for something that's now worth $9B. He doesn't seem that wise.
@@suomynona4607You vastly underestimate the value of X. You are only looking at it from a dollar perspective. The information that can be found on X is far more varied and uncensored. If you had two books, one without censorship that had every detail or the same book with all the negative information censored.... Which one would you read?
@@suomynona4607He became the most important person in the world after Trump. IMO, the money was very well spent. Besides, he still the richest man alive.
I like Elon‘s plan. This is a great video. You explained things very fairly and accurately. Thank you.
Small taxes can affect investment decisions such as whether to choose tax-free municipal bonds over taxable bonds or do a Roth IRA conversion. I’ve been sitting on over $745K equity from a home sale and I want to invest on the stock market, how do I achieve this without being taxed twice?
Indeed, I did make use of a financial counselor. As I get closer to retirement, their advice has been really helpful. I thought compound interest on index funds wouldn't be sufficient because I started late. It's amusing how I've done better than colleagues who have more years of investment experience. I've profited more than $886k tax free.
this is definitely considerable! think you could suggest any professional/advisors i can get on the phone with? i'm in dire need of proper portfolio allocation
GREGORY LEO CATTEL is the licensed FA I work with, I can't speak much about him you should make a search with his name, you'd find the necessary details to schedule an appointment.
he appears to be well-educated and well-read. I ran a Google search for his name and came across his website; thank you for sharing.
36 trillion in debt and 345 million people. That's over 100K per person or 500k for a couple with 3 kids! It's absolutely ridiculous. If it is not paid down AND the USD loses it's reserve currency status, the USA will become a banana republic.
So basically a mortgage, depending on where you live
@@tesladrew2608 I guess americans spend well beyond their means. I dont get how some broke person decides to go on a 3 week long vacation for 10 grand on credit. Why. Did they make some valuable interpersonal connections thatll get them work/business opportunities? No. Its sheer stupidity.
Donald puts the reserve currency status at risk with high import taxes. The other countries will stop exporting goods to the US and are no longer interested in holding dollar. This will happen sooner than most people expect. And it will be devastating. I have no illusions about this.
They probably want to feel normal for a second instead of like a pauper. NOYB anyways. @@Andytlp
Yeah, but Trump and Musk wont solve that issue.. it's not their problem. They are in it for the tax cuts for billionaires, and deregulating the stuff that annoys them. Typical selfish, narcicistic billionaires. And america voted them to be in charge. Like, holy hell, why.
I once worked for the FAA (can’t say why) but they needed to hit their government budget quota for the year so this one building spent 7 million for us to build something in a completely unused corner of a hallway. Government is so wasteful these days. Lets cut it up!
Well done on the balanced view. I’m subscribing because of this. Keep the un-opinionated facts coming.
How amazing would it be for US news agencies to report this sanely and analytically? No bias, no spin, thoughtful summary of the facts and open ended questions relevant to the topic. And the deluge of comments from federal employees make it clear there's a productive way forward here.
They do, but it doesn’t make money since no one watches it. News is all about making money, getting views, advertising
@@ReviewBoard-uy5nv So Elon Musk creates massive unemployment then says, all you NASA scientists can bring your hardware and intellectual property to Space X, all you unemployed bureaucrats can learn to install Tesla power walls, all you unemployed FBI and CIA can work for my personal security service. All hail Emperor Musk! ( cue the Darth Vader music)
Fr it’s literally crazy asf to think people from other countries report our news better than we do 😭
Unless your country is at war, it should never run a budget deficit.
There is no excuse for debt. Pay for it with tax revenue, or go without until you can afford it.
Yes, but every Government promises 'investment' on things that people want, so they effectively buy their vote. People are never told that this 'investment' is actually borrowed money. If the people knew the truth, they might act differently.
That is why they are starting another war now... (China or Russia or both)
"There is no excuse for debt" national debt is a major economic driver and a baseline product of our financial system, a country with absolutely zero debt is catastrophic for the economy...
You Americans like to call yourselves capitalist but you have zero idea on how it works on a technical level
@@geraldmerkowitz4360 Ignorance on macroeconomics is absolutely appalling, especially along willingness to "teach" others. I stopped watching at the point where he said gov't debt is the same as personal debt.
the us is constantly at war tho
Me: "Can I pay my mortgage with my credit card to earn points?"
Government: "Hell no! You can't pay debt with debt!"
Government: 👀
Rich dad poor dad logic😮
You can refinance your credit. Thats also a pretty smart thing to do when interest rates are low.
No, but you can open a line of credit and use that to pay off your mortgage
There are companies you can use.
They pay your rent with their bank plus a fee and you pay them back with a rewards cc and pocket the difference. Look it up, run some numbers, see if it's worth it.
There are middleman companies out there. They pay your rent plus a fee. You pay them with your rewards card. And you pocket the difference. Seriously. Look it up and run some numbers if it's worth it.
The biggest problem which I haven’t seen anyone address is that cutting all of these agencies is only reducing the top tiny sliver of that deficit graph. Where are the cuts going to come from to find the $2 trillion of savings?
Start by cutting 30% of every federal budget.
DoD, Social Security, Medicare and Medicaid add up to $4 Trillion. To cut $2 Trillion you have to cut all of the rest. Don't even think of cutting SS or Medicare with their own funding streams.
His comment about paper work taking longer to accomplish than the actual work.
I'm a contractor for the army and part of team moving a legacy application to the cloud. We've been ready to go into production for nearly a year, but we have to go through all kinds of meetings for various regulatory guidelines. Most of those guidelines are horribly out of date, but we still have to meet them... Just because some bureaucrat says we do.
On the flip side, the security ramifications of moving on premises applications to the cloud are massive, especially when we're talking about a DoD application. Some bureaucrat also puts in place the sensible regulations regarding code review.
I also do contract work for the gov, the procurement process is incredibly bureaucratic and takes FOREVER often 10 times longer than the actual time the project will take to get done
I contracted for the Air Force. I did the layout on a chip that never was intended to work. I don’t know how many man months were used to design it and do layout. When I inquired as to why we were doing this, the only answer I got was that we were checking off a box to satisfy a contract.
The I/O pins were done by another guy, who had to learn on the fly about how to do that. He said they were woefully inadequate as he didn’t have enough space to do it right. He then got on a plane to go show the chip to some group in Chapel Hill, I think. They only looked at some of the layout, not his pins.
There never was any intention to power it up. The SENSORS LABORATORY here at WPAFB in Dayton Ohio fabricated the chip and encased it in a fancy glass display with a plaque that proudly proclaimed how many transistors were on this chip - that did absolutely nothing and never was intended to.
The paperwork used to not exist as badly as it does now. The Reagan admin's obsession with governmental accountability means that every pencil mark a government employee uses be identifiable and traceable. Like the uncertainty principle, you can have a detailed thorough accounting of everything the government does, or a cheaper operation of government, you cannot have both. Being accountable requires extra man hours and that means money.
@FrozenElite926 except I think the deep state took that idea of recording information for accountability purposes and took it to an extreme to create such a mountain of documentation that it becomes useless as it's impossible to sift through it all. To complicate matters much of documentation will be contradictory since each person filling it out will have different priorities.
No one in government seems to have any accountability for being inefficient ... that has to change!
Where is the incentive to improve? The only incentive they have is to grow larger.
The regulators also don't have to prove a regulation helps before passing it. They only have to "do something! Do anything!"
The US congress is responsible, they hold the purse, no one else. Musk has no responsibility and no power.
the problem is, everybody is always looking at the small employees as the guilty ones, but that is simply not true. they have no choice but to follow the system, laid out for them and it is not their call to change anything about it.
My father worked for the VA when I was 10 I took a pencil out of his briefcase, he said put it back that’s Federal property. We need more of that kind of thinking and respect for other people’s money
by that logic, we as Social Security Numbers are Federal property 🤣🤣
your pops seemed like an honest man that being said. We do need more people with such integrity, and especially as governing bodies.
Good man. That pencil probably cost taxpayers about 8 grand.
i appreciate the non biased look and explanations as opposed to other youtubers that just completely write off everything trump does or the ones that just suck on the knob. very insightful
It's good to solve these "efficiency" problems as soon as possible, instead of letting them snowball.
Many politicians have the bad habit of pushing problems to the next person.
Republicans in Congress did practically NOTHING their whole career in Congress. So maybe getting rid of many of those would help.
Lmao they have snowballed for DECADES
Like the guy before the current administration did?
@@goatfromhell6662016 Trump's entire cabinet were neocons trying to undermine him every step of the way. This time around, his cabinet picks are all people aligned with him, and with both the house and senate backing him, the safeguards are gone and he can do whatever he wants.
Whether or not it actually amounts to anything, I guess we'll see in the coming years.
The modern politician's job is not to solve problems. It's to get elected. Their team will be the ones writing legislation and deciding how the politician votes.
I worked in government for 22 years and the amount of waste that I seen was absolutely unbelievable. There's a lot of hard-working good employees but then there is enormous amount of waste, this is a good thing that they're doing with DOGE.
I work for the govt know. I feel you however, I don’t see deep enough cuts in the govt. most the spending is Social Security, Healthcare and interest. There will be much backlash on cutting the first two. Baby steps I suppose
So you was part of the problem for 22 years.
I love how many Australians have taken up interest in the United States news and making content on it. It gives a different perspective as well.
How do you he is in Australia? Most likely he is in the US and came from the AU
@@lextacy2008guess you didn't actually watch the video or look at his profile where he says he Is in Australia.
@@Hi_Issie In that case, he definitely shouldn't care
@@lextacy2008 he can do whatever he wants, people still want to listen
@@lextacy2008 I don't know how it is in Australia. But here in the US, hes allowed to say anything he wants. He doesn't need mine or your permission. And you and I can choose if we want to listen, something you've already shown where you are on that.
Looking from a distance keeps the reality
Cut Trump, cut Musk, add actuaries, economists, +real attorneys who know laws
You have an objective approach. I am a retired US Government financial and statistical analyst. There is no question that Musk is correct about the feasibility of material US government savings.
Bot
@BrklynBread Our "left wing" has two easy answers: 1) Fascist; and 2) Bot.
@BobB-w4q The left loves their witch hunts, sorry you have to deal with morons.
@@BobB-w4qI am a far leftist. I think Elon might have some points that our government has some inefficiencies. However, I believe that his reduced spending will have negative effects on the American people. However, we will just have to wait and see. I am all for reducing some spending on defense and simplifying our complicated tax system, but if he tries to gut systems that help the people it won’t be a good thing
@@BobB-w4q now im sure ur a bot
It's a commission. It will investigate and make recommendations. If any actual deregulation happens it will be done by elected officials through congress.. He won't be able to directly change things.
but why calling a task force like a cabinet-level department? Even more so, an acronym whose sole purpose is to troll people? Are Americans really so into being trolled by a billionaire?
And you REALLY believe that? Multi Billionare oligarchs who have all Washington DC "elected" officials in their pockets? The ones that have turned you and I into baby killers in Gaza? Just so our Military Industrial Complex oligarchs can make even more billions?
@@TheLawWonlmfao you’re a moron if you think Musk gives a shit about money
It’s not a task force- it’s a new government agency. Nice way to minimize it for the weak. lol
@@20thRealityMan, you are no fun.
I wish they banned Foundations, Lobby Groups, NGOs, and Think Tanks from interfering at any level of government.
I wish they banned the secrecy that they all hide behind.
Their goal isn't actually efficiency you know, just cutting social spending so that people stay poor and removing regulations to further enrich themselves
I doubt musk is gonna get rid of himself. He just lobbied the future president to give him a place in his cabinet.
Banning lobby groups?
So if I want to get a harmful chemical banned, and my neighbor wants to do the same, it should be illegal for us to work on a pitch for our local politician together?
Cuz saying something is illegal prevents the government from doing anything illegal.....great plan
Congratulations on the 1 million subs 🎉
We have to cut the money laundering as well as the waste. Contracts for the government are usually over priced and no one negotiates pricing and gets ripped off…
Ha look at the Irish bike shed that cost 300k, the printer that's cost 2 million and the hospital that's still not done and cost us a billion euros
You have where the gov tries to stop that also and fails. I used to sell Nextel's. I often sold to New Jersey government accounts. Like police, fire, and road departments. The state had a bid list that was updated annually. It had fixed pricing on it. So let's say I was selling them a device, it would be listed on the state list with a fixed price. I couldn't charge more for it. So in theory no more $100 rolls of toilet paper, but in true government style I couldn't charge less or I could do jail time for it. So they might have that device listed at $100 and each car charger at $25, and the case at $25, I could be selling the same thing to any Joe off the street for free, I would have to mark it up as to not worry about bribery charges.
The norm used to be government received all goods at whole sale. The companies were allowed to deduct the loss from taxes to even their profits out.
The Department of Defense has failed every financial audit for the last thirty years. I work with the government and I can agree to the large amounts of waste that is rampant in the agency. The Army just paid off half a million dollars for a new combat rifle that is so riddled with problems that it has been pulled from combat units.
Finally someone is talking about our national debt. Regardless of political party preference something needs to be done to knock down our debt. It's like paying off a credit card balance. The sooner the better.
Yup, question is will the walk match the talk? It's easy to talk about reducing spending, closing the gap, reducing the debt. To get something actually accomplished, that's another thing.
@@davejones8770considering we did the exact opposite of that the past 4 years... should go pretty well
From 20 Trillion to 30 Trillion in just 4 years under the Democrats who tax their citizens indirectly through debt and inflation.
@@davejones8770 Not really. Exposing it in the big way that Trump is doing it with Musk and Ramaswamy is really all that is needed. People will be absolutely shocked at just how much waste and lack of accountability there is and protest with their votes.
Trump, Elon and Vance are honest transparent people.
I ran a tiny company in which each person performed the tasks he was paid for. Period. We were incredibly efficient and knocked the crap out of the competition, where inefficiency was rampid and blatantly unnecessary. All it takes is common sense and the freedom to implement it for the benefit of all.
key word, tiny company! the federal government is a huge company, and for good reason
Cross training brings better efficiency.
You should try working for corporations. They have so many inefficencies. But nobody talks about them. CEOs keep them hidden to keep their big bonus checks and then bail.
A tiny department cannot run an entire country. Your analogy cannot be applied to a government
I am a former government employee who quit after 5 years from seeing the enormous waste that my family, friends and my tax dollars were paying for. I will support anyone willing to dive into the broken system of government to find a better way.
You quit because you’re too lazy and overweight to stand on your feet all day long. Let’s be real
Thank you for your videos... The US economy faces ongoing challenges with high inflation and tightening credit, and though a full recession is uncertain, the risk is palpable. Rate cuts, while aimed at spurring growth, come with inflationary risks, and banks are restricting consumer and corporate lending, potentially leading to deflation in asset prices. Stock markets are volatile, layoffs are increasing, and a rising unemployment rate could signal a more entrenched economic slowdown. Retail and housing sales are expected to decline further as consumer spending cools. Though certain assets like stocks and cryptocurrencies may act as hedges, they remain vulnerable to market swings, making cautious, diversified strategies essential. Through a combination of long- and short-term trading, I’ve grown my portfolio from 130k to 532k, thanks in large part to the expertise of Milton Harper, whose deep market insights have been invaluable in navigating these unpredictable financial times...
He mostly interacts on Telegrams, using the user-name,
@MiltonHarper
Milton Harper is among the best traders on the internet and I'll keep saying it every time.
He's really good in studying the market and making a strategy and i am learning so much from him already.
My favorite TA man. always on the ball, honest and to the point I like his core analysis, one of the best.
Cutting the corrupt bureaucracy spending schemes will improve our economy
This is the kind of reporting we need these days, objective, fair and honest...... Good job....
Social Security should not be shown affecting the deficit. At least as of now all social security recipient payouts is paid directly from social security deducted from working tax payers. It is not part of the deficit.
right if only the Johnson admin hadn't dipped their hands into the Social security trust fund...
That is not how it works lol
The reason Social Security is included in the debt calculation is because the Social Security fund, which by itself runs under a surplus, is routinely raided by the US Government for funds to pay other debts.
@@ibnorml5506well it’s more like the Trust Fund loans out money to the government with interest. Which adds more debt to the nation. We are literally in debt to ourselves, to foreign nations, to retirees, to future generations… we are a debt based society
Social Security is a fucker’s safety net because they refuse to save earlier for their retirement. 😂
Transparency is the best idea ever. No more faking stuff, no more pretending everything is okay. Those afraid of transparency you know they're doing something shady. No more pocketing taxpayer money and getting no value out of it. Gotta get value in return.
Transparency is rarely transparency.
yeah just like he stuck to his transparency on twitter and when he said any major platform changes would be subject to polls and votes, and then they just weren't lmao
Oh transparency is good? Everyone's tax record should be public information then.
Hussein-Obama promised transparency, campaigned on it. We all know it didn't happen, the ACA passed without it ever being read by those voting for/against it, recall Pelosi's statement "you have to pass the bill to find out what's IN the bill."
But your incoming president is probably the most opaque person on earth.
I'm not sure about deregulation, but combining government agencies sounds like a brilliant idea
Waste and inefficiency, are basically the (informal) definition of “bureaucracy”.
This is one of the reasons there are so many who support the idea of “smaller” government.
Less bureaucracy is the basis for conservatism.
@@darnoc0010 conservatism is by definition conserving things as they are
@@Sinaeb In this case it's conserving how it used to be. Meaning before the government got so bloated with hundreds of unregulated agencies and bureaucracy.
American conservatism is based on conserving the rights and freedoms outlined in the constitution. Current bureaucracy has removed a lot of those rights with unlawful regulations.
A smaller government cannot take on extra jobs, you need to create more departments for that, thus defeating the very purpose of conservatism
@@arbjful Incorrect, The Federal Government (according to the constitution) cannot take on extra jobs. That is relegated to the state governments to decide. In other words the current government has overstepped its authority by making more departments. The reason the constitution doesn't allow these departments is because they are not elected.
"By the people and for the people" is the number one founding principle. Laws are allowed not regulations. The idea was if you disagree with a policy you vote out the people in charge. With regulatory departments the people have no option to remove those responsible.
As a government employee, I would love to see the high ranking people that drag there feet and make my life harder go away.
As an American, I hope that less of our tax money goes to the military. Would we even notice if we had 1 less aircraft carrier?
@@enolopanr9820agreed however it’s Congress that’s the issue and state govt. Govenors want these weapon systems produced in their district…essentially a jobs program
@@enolopanr9820 You'll regret that in the days to come. Unfortunately the evil of the world requires a large military. Evil kills the good always.
@@enolopanr9820The military is a necessity. I think looking at wasteful expenditures within the military is important. For example: taxpayers should not pay for a sex change for anyone serving in the military.
Also, we need to look at higher standards for those entering into the military. Excellence in IQ testing and fitness should be a hallmark of all armed forces. Quality of military personnel over quantity will be important especially as technology advances.
@@joematties7557 Oh yeah tell me how spending a billion dollars on a single b21 raider is a good idea and an efficient use of money. A BILLION DOLLARS on ONE PLANE.
No, government debt is not “similar to us”. It’s COMPLETELY different - we don’t each get to print our own money.
this. Ppl need to understand that finally. They make it sound like all debt of government is bad, which is it not.
I agree it's different... But... In the same way printing money to pay off debt will cause inflation, a person incurring a growing mountain of debt, any income becomes less and less effective and valuable. Your income, your wallet, becomes less and less valuable (supposing you never made payments).
@@nathanpatera9836 nah, its not comparable. Theres definitely too much debt for a country, but there can actually also be too little. I live in Germany and we have one of the lowest debts in the EU. The problem is, that by saving too much, we are missing investments in our infrastructure and education. And because of this, we are also causing inflation, because our electricity generation e.g. is expensive due to lack of investments. This again worsens the entire landscape for our private companies, since they have to produce at higher cost - which again increases prices.
Too many people will never understand that, because few take the time, or have the comprehension to learn how money works.
@@toxx1220you’re not gonna convince me that spending 2 dollars and having 1 dollar is good
Brandon this was a nice video summary thank you. It’s missing covering one big gaping hole though. I agree with Luke Gromen’s assessment that if they don’t devalue the US$ first before huge spending cuts then we’re likely going to see a huge sell off in everything bar the $ itself. One of the biggest investment risks in 2025 imho
Since the debt crisis could unleash carnage on the stock market leading to economic downturns. We need to be prepared for potential market volatility. how can I secure my $80K stock portfolio against declining?
It's a good idea to seek advice at the moment, unless you're an expert yourself. As someone who runs a service business and sells products on eBay, I can tell you that the economy is struggling and many people are struggling financially.
you are completely right, Advisors have information and paths that are not disclosed to the public.. I profited $560k in 2023 under the tutelage of my Fiduciary-counselor. Am I selling? Absolutely not.. I am going to sit back and observe how this all plays out.
pls how can I reach this expert, I need someone to help me manage my portfolio
My CFA ’’ Sharon Ann Meny, a renowned figure in her line of work. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thank you for the recommendation. I'll send her an email, and I hope I'm able to reach her.
Roughly $120K in my portfolio are in tech/TSLA stocks, can I get an advice on any other stocks that I can acquire to diversify my reserve across multiple markets while creating a comprehensive portfolio allocation that balances my concerns of risk aversion and returns that meet yearly inflation.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. I know someone who made over $350k in this recession-influenced market, but to the best of my knowledge, it was through an F.A
Yes, I've been in constant touch with a Financial Analyst for approximately 8 months. You know, these days it's really easy to buy into trending stocks, but the task is determining when to sell or keep. That's where my manager comes in, to help me with entry and exit points in the industries I'm engaged in. Can’t say I regret it, I’m 40% up in profits just in 5months with my initial capital of $160k
How can one find a verifiable financial planner? I would not mind looking up the professional that helped you. I will be retiring in two years and I might need some management on my much larger portfolio. Don't want to take any chances
credits to JENIENNE MINITER FAGAN, one of the best portfolio manager's out there. she's well known, you should look her up
Tech is always high risk, high reward. Maybe you could try something like McDonald's or something from the health industry like Novo-Nordisk who produce insulin and such. I'm still hoping that Nike will go up again. I don't know too much about the stock market and can't give you any hot tips. You got to make your own research unfortunately. I also heard people say that the oil industry will be interesting after Trump's win. Same goes for the ore industry because nuclear power plants need very specific resources of course and many people still build them (except for my stupid german government).
I have a friend who worked for the federal government in the payroll offices for a branch of federal employees. At the end of every year they had millions of dollars left over so they went out and bought millions of dollars of office furniture they owned warehouses all over the East Coast filled with furniture that they will never use all to not lose the money in their budget
8 TRILLION under tRump. Not just COVID, 1.7 TRILLION per year.
Sounds unreasonable to do that..... It only means that some money printing project expands, but then that demand for the products..... Depends on how the economy responds to shopping and support infrastructure..... Something that is easily refundable.
Great video. Very solid coverage of pros and cons.
We could save money if we pay the president, the house & senate by their productivity, and how many hours they work. They should be part time and pay for their own retirement & health benefits
It was never intended to be a full time job. Concerned citizens were supposed to take time out and contribute, then go back to their regular lives.
Trump will make the case that he performs serious work on the golf course.
@@AnotherPointOfView944Trump is the only President who donated his salary. He didn’t take a dime to work. Additionally, Trump is a workaholic. He likes to play golf from time to time, he’s allowed a day off. He spent most of his time working.
@@AnotherPointOfView944 Trump doesn't take his salary.. pretty well know dumb ass
@@AnotherPointOfView944trump also doesn’t take home a paycheck. He donates his wage. Bidens spent more time doing nothing than any other president in history.
For all those confused. SS is not part of your income tax. It is not part of the general fund.
It is a separate, private, retirement fund that you pay premiums into as a payroll tax.
Reducing it, or even eliminating it will not reduce the national debt by 1 penny.
The problem with SS is that its funds were used to buy Treasury bonds. Its assets are US debt. That is how it was used as a piggy bank to fund overspending. If anything happens to devalue US treasuries, it will implode right along with everything else.
Right, but if it continues down the path it’s on, it will run out of money well before I retire. Something about it needs to change.
@@tastyrick Exactly, we should just remove it. Its badly designed and savings accounts fix this problem.
Money is fungible, and it comes from current production. When your generation committed genocide on its own people by murdering 60M of their own American babies and chemically preventing twice that, it destroyed the nation who was slated to pay your SS benefits. You can’t get blood from a stone, and you can’t get monthly checks from people who don’t exist.
It's not a fund. It's a ponzi scheme. There is no actual account for me, other than an IOU that someone 20 years from now is supposed to pay. Every dollar we put in this year goes immediately to someone withdrawing their SS payment.
Tesla was one of the Largest receivers of government funds?
I'm sure that he'll get right on that.
Which in theory makes sense America wants to become less dependent on Chinese cars also having Tesla succeed is better for the American people more jobs also a local brand much cheaper
He paid it back with interest
a loan, already paid with interests.
@gamers-xh3uc no their not. The cheapest tesla is like 39 thousand dollars and the average production workers at tesla make a little over 50 a year in locations that surviving on that is almost impossible. He's not really helping Americans whatsoever. He's helping himself become more rich and power and he's helping his friends become more rich and powerful. That's the problem you have all the worlds wealth in the hands of a few people.
Stop giving our money away.
And fire the worthless employees
Isn't it a conflict of interest to have a businessman with billions of dollars in government contracts in charge of 'trimming' the US budget?
He just might not trim government expenses toward electric cars and space programs. Of which, most Americans are fine with our relative let small space spending.
Most congressmen own the companies that makes arms for the military then create wars! Is that a conflict? Get your head out of your arse. Conflicts are always there!
I do believe that it can be risky but I also believe we need a business man/s to do this because those people live and breathe as cheap as possible and are probably the best you can get to cut spending just have to check them and make sure they don’t get ideas
No, I see it as a positive that ANYONE is in charge of trimming the US budget and government waste. I wouldn't object to a first grader doing it.
Would you please explain how this is a conflict of interest? I could see that being probable if he was being appointed to an agency that regulates the business that he owns.
Social security is self funding, hands 0ff sticky fingered politicians.
if they touch Social security trump era will be over in one month. i know trump wont touch. SS BUT it might increase.
No it isn't self funding. Social Security has become a general welfare program, many people receive it that never paid a dime. The SS tax that you and your employer pay goes into the general fund, and an iou is issued after they take the money and spend it. Where is this 'fund' where your lifetime SS payments are being held for your use when you retire?
@@kdb4uillegal immigrants pay into social security but they can’t get it and trump wants to kick them all out
Take from the poor and give to the rich - social security
No it's not. It functions like a ponzi
Elon Musk will do it! He has the stamina and know how!!!!
I hit $113k today. Thank you for all the knowledge and nuggets you had thrown my way over the last months. Started last month 2024. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject.
It's essential for you to have a mentor to keep you accountable. Myself, I'm guided by Evelyn Vera. for years and highly recommend her I focus on him. To be honest, I almost didn't buy the idea of letting someone handle growing my finance, but so glad I did.
I would really love to know how much work you did put in to get to this stage.
Wow! wow! please is there any way to reach her services?
I keep hearing a lot about Evelyn Vera, she must be really good
Yes, I have her WHATSAPPS digits
Thanks for the insights! Bought XAI68Y, predicting big returns! 📈
Since the debt crisis could unleash carnage on the stock market leading to economic downturns. We need to be prepared for potential market volatility. how can I secure my $600K stock portfolio against declining?
Concentrate on two main objectives. First, keep yourself safe by knowing when to sell stocks in order to limit losses and maximize gains. Second, get ready to benefit from market changes. I advise consulting a coach or other professional for advice.
That makes sense. I’ve been using a financial market expert for two years now and I own a six-figure diversified portfolio from investing in stocks. I want to diversify more this year, though.
Who is this person guiding you and how can i reach he/she?
Annette Christine Conte maintains an online presence that can be easily found through a simple search of her name on the internet.
Thank you for this tip. It was easy to find your coach. Did my due diligence on her before scheduling a phone call with her. She seems proficient considering her resume.
How many full time jobs you're in ?
Elon: Yes
It is amazing that people who think we cannot afford to pay for doctors, hospitals, and medication somehow think that we can afford to pay for doctors, hospitals, medication and a government bureaucracy to administer it. - Thomas Sowell
The fatal attraction of government is that it allows busybodies to impose decisions on others without paying any price themselves. That enables them to act as if there were no price, even when there are ruinous prices - paid by others. - Thomas Sowell
Sowell misses the point like so often. It is not about having the bureaucracy, it is about implementing rules that regulate it in a meaningful way. Almost every country in the world does that. Only the US have this crazy system with these insane prices. I mean it is a great subvention for european medical companies and I hope this goes on forever, but for US citizen..
Thomas Sowell needs to delve into the inefficiencies and costs of insurance agencies.
@@juliahello6673 Yes, profit-based health care is an abomination.
the fact that a congressman/woman makes an Avg of $174,000 while a US service member barely makes $30k is part of the problem. they waste so much time yet if we reduced their income i guarantee they would get their asses in gear and deal with the peoples problems more effectively..
a cut-reduction wouldn't make them move quicker lol it'd make them pissed off and move SLOWER. REMOVING THEM(some how/some way LOL) would make them ...umm....CATCH THE DRIFT. THEN, they'd move faster.
There is an argument to pay them more. Pay more, attract better candidates, increase competition, and standards will naturally rise. I am not 100% convinced of the argument, but it does have some merit.
Congress should ban Congress owning/trading stocks and doing private business. A huge pay raise should also come with this. They don't care about the $174k salary when they can rake in millions on the side from insider knowledge and money from lobbying. If they were making fuck you money in salary, that would help make them vote on their conscious instead of their dark money interests.
@@SputnikCrisis There's the biggest thing that needs to stop. Lobbying is technically unconstitutional. They should be forced to vote the way those that they represent want. But most politicians don't. Outright lying to get elected used to be punishable by jail time and seizure of all assets. Lets bring that back.
they would be replaced by somebody who would umm...move faster indeed
Nearly 66% of the US govt budget every year is non-discretionary, meaning its non-negotiable by congress and used on things like social security, medicare. I’m all for slashing waste, but how does Elon actually plan on reducing spending by 80% when the real problem are the payouts that will get Trump kicked from office guaranteed? I don’t think one senior citizen will vote republican again if their SS or benefits payments get slashed
Having worked in a government department in the past, it's stupidly inefficient. I used to complain that there were "too many chiefs, not enough indians"; me as a single worker had 4 bosses to report to - none of whom agreed with each other. A lot of time was spent getting them into a single room to agree on a path forward. This was a symptom where government departments tended to transfer people who were incompetent rather than firing them. To be honest, a blind person throwing darts could identify and fix inefficiencies even in mandated non-discretionary work.
Have you ever seen a clown? Must be nice to give away a hundred million dollars😎😎😎🤓🤓😈😈😈👽👽
@@milisha98 And all that inefficiency was, as OP stated, in less than 1/3 of the budget. Most of the budget is Social Security/Medicare which are very low overhead programs where almost the entire budget is paying out benefits.
Further, over half of that remaining chunk is military spending--which neither party ever wants to touch. So, really, there's only 15% tops of the federal budget even in play for cuts. It's almost like the problem is the US effective tax rates are incredibly low compared to other countries like us because we stopped taxing people like Elon in 1980 and never resumed.
@@tHebUm18 social security isn't really an issue unless we're talking about people accepting benefits on behalf of dead people. Medicare is subject to billions of dollars of fraud annually. Medicare is a slush fund of corporate welfare. Medicare is the reason for medical inflation just like student loans cause tuition inflation.
That's a problem, and woefully it's unlikely to be solved. But ideally people who can't be soldiers or aren't ultra-rich shouldn't vote in the first place. But even more ideally is to get rid of democracy and just become aristocratic republic or monarchy
As an economist, I like your summary's!
Why does no one talk about the elephant in the room...... Who is the so-called beneficiary of the outstanding debt?????
77% of the national debt is held by domestic entities. Some, I assume may even own elephants.
The countries we borrowed from ( China is a big one).
Mostly Americans lol.
That's the one million dollars question. Better saying, the forty eight trillion dollars question.
The corporations and banks that were able to monopolised under the capitalistic free market system called neoliberalism. They own and control the governments because they have been bought and paid for through the lobbying system.
1. Checks & Balances
2. Transparency (as possible)
3. Efficiency Driven Salaries
'Kids', 'safety' & 'racist' are the 3 magic words to block everything or make it 2 x more expensive. Even private companies are playing this game.
Social Security is not revenue it's a liability and should not be touched for government spending. That is one of the big problems with the government.
I think every American should watch this video. You explained his plan very well.
Please research Elons destruction and waste of his own government subsidies and contracts he has in fact lied to the gov about. His secret meetings with Putin and others, his belief in a new world order and his massive losses and grifter/con tactics and inflation shares and company values for personal gain. Please my good intelligent US mates… before recommending this liar and cheater who is in fact not even an engineer he has no actual degrees and invented nothing he didn’t not found Tesla or PayPal and actually designed only one component of the charging outlet for recharging teslas. He is tge worst thing you guys could ever do for your country. He is a FRAUD