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
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
Having worked as government contractor on Space Shuttle, you do not understand government waste. Shuttle budget was $6 billion a year but only.$1.8 was actual budget for shuttle, the rest was tacked on because Congress approved Shuttle budget, new buildings, roads Johnson Space Center, student outreach, personal transportation vehicles, etc. When executives are transferred, government buys their home. There is so Redundancy throughout government, when I did projects my status reports were cut/paste into others status reports, some got cash rewards for my projects. You look at Social Security like all of it is going to payouts, not really, there are personnel cost, Redundancy at all levels, buildings, vehicles, jet travel, computers, maintenance, home purchased for transfers. Government pisses away money in overhead for every department. There are over 13 agencies regulating banks, seems like they could cut down to 3 or 4 agencies. Musk major task is to get rid of "Department of Redundancy Department" in every government department.
Exactly. Its not that the 600K spent on watching lizards on a treadmill is 600K in savings, losing the personnel, building, logistics, transportation, perks, and whomever came up with the idea is the long term savings.
These are bots/scammers. Every UA-cam video with money related, you'll see these scammers posting every second. It's disgusting UA-cam can't figure out way to weed out these scammers
Well, to be honest, politicians decrease debt through inflation. Then we end up with currencies with a whole lot of zeros on it. Back just 30 years ago $1 million was something now everyone that owns a house in Canada and Australia is a millionaire.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If you’re not ready for it, you shouldn’t be in the market business. or get you a skilled practitioner.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance advisors you could check out. I have been working with ''Melissa Terri Swayne’’ for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
Elon Musk is doing this only as an advisor. The congress still handles the budget. Don't let this video make you think Elon is actually handling the country's money.
@@kjshy Musk just stopped Congress from passing a stop gap budget that would prevent the govt shutting down. He posts at least 100 times this morning that the deal Congress made shouldn’t go through. He wants people to be furloughed. The billionaire doesn’t care if he hurts people. He said it won’t hurt things b/c essential employees will cont to work. That’s like looking at your company (or Tesla or SpaceEx) and sending 85% of the people home except for whoever pays the bills and few key people and executives. You think that’s a good way to run a business? Think of operational impact if it last weeks. Work continues to flow in and it will back up. EM is so ignorant, I’m sure he does not realize that Congress passed a law that says if federal employees are furloughed that once called back they get back pay. So it’s stupid to furlough people! Waste of money! And it hurts the American people, because incoming work doesn’t stop, it just piles up! Congress has one job, pass a damn budget. They haven’t done their one job on time since I can remember. SMH
You don't need a Whorton degree to see this as the same old problem that we have faced for the last 50 years. The US Gov't. exists by deficit spending. Not since Clinton has there been a balanced Gov't. spending budget and it's unlikely to happen again any time soon.
The US government needs to get out of the social security and medicare business. They've shown that they are completely incompetent at both. We'd all be better off with private versions of both.
Social Security is paid for by members who contributed, Medicare and Medicade are not, true our interest on our debt is out of hand but billionares and some millionars are not paying their fair share. Corporations look to lowering their cost. Why must the middle class pay for all of it?
Azul, this is what I did for a living. Efficiency is the key word. Overhead, abuse and errors are ripe for improvement. I found it realistic to get 20% with focus. Without cutting any benefits to people. Rinse and repeat for every agency. Those of us in private industry have always lived under these rules. What is opportunity for organizations that have never competed for business? 20,30,40% don’t scare me.
thanks for adding some realistic evaluation --- Elon is such a PR animal I don't know where he gets his data for cutting $2T ---- that is 33% of $6.1T total -- sure 15% is definitely possible but when you say focus will give 20% you then go to 40% doesn't scare you. I don't see your optimism for doubling what you say you have experience in. ---- so a little hardship? for whom?
The charts miss a few important things, for example, waste fraud and abuse even in the non-discretionary, plus that in the discretionary. Just because it is non-discretionary does not mean it cann ot be cleaned up. Most of all it treats the economy like it is zero-sum - that is no growth. The DOGE Boys have their work cut out that is for sure, even if they fall short of the goal it is worth doing. Position improvement is continuous.
The “wast, fraud, and abuse” has not been identified, proven, and tabulated. They have 18 month to complete the whole project. Sounds like a lot of hot air to me.
@@ronaldwi6299 unless it can be handled by Trump through executive orders. Anything that is within the executive branch, and I think a lot of the government is within the executive branch, Trump can control through executive orders.
The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.
During lean times my state instructs agencies to come up with 10% cuts annually. Of course, we have a balanced budget in our constitution that the US government doesn't, but forced cuts would be very helpful in these insane times.
Interesting that your state has a balanced budget requirement in its constitution. Which state? I thought my state, Utah, was the only one that had it. Looks like I was wrong about that …
All states should have a balanced budget since they do not have their own currency. Any government that can issue it's own currency should be fine IF THEY HAVE RESPONSIBLE OFFICIALS. That is our problem. The public is not educated enough to hire and fire proper representatives who take the budget seriously. We let them baffle us with BS and rob us blind. During times of trouble governments should cover demand gap and spend more BUT ONLY IF during times of prosperity they cut back and reign in spending to get back to balance. Right now every time we get a prosperous time, they give tax cuts to the rich instead of paying off debt. See GW Bush's tax cuts and Trump's tax cuts in 2018. No tax cut should be allowed until the NATIONAL DEBT IS TACKLED.
It seems to me this video would have been a lot easier to follow and more logically presented if you'd clearly stated at the beginning of the video what Elon's plan is and then dissected it. Instead you take us through the meandering woods for a really long time before you share what plan you're talking about.
We are on the "lower side of taxes"? Are you that out of touch? 30% is stolen by the feds up front from my paycheck. State of California then takes another 12%. So 42% of what i make i never see in my take home pay. Add in property taxes and its 50%. Flat tax EVERY ONE 25% accross the board!
The problem is that the tax rate for people like Elon is nowhere near 30% - it might not even be 10%. The wealthy and big corporations have figured out how to avoid paying their fair share of taxes. And then people like Elon want even more people to drive to work - so the government will have to keep spending money expanding roads.
funny how folks pine for the good ole days when America was great and we were paying down our WWII debt but then shriek in horror at the idea of going back to a tax structure that supported those good ole days. When the top tax rate was 90% and corporation paid way way more in taxes.
Because they didnt pay more in taxes, per govt info that is open to the public. When the top rate was 90%, no one paid it because there were loopholes. Think politicians lying to you like SS goes into a trust fund, we know that that hardly ever happens. The loopholes went away, and the top marginal rates went down. When that happened the treasury received more tax revenue. Facts backed up by data, not covetous hyperbole.
@@grega2362 The Trust Fund is an expression for Special Bonds. It was easier to say that then explain how it worked. When Reagan changed the program in the early eighties, he nearly doubled the tax for both workers and employers and the extra funds not needed for payouts was put into the general fund but the fund issued special bonds to cover those loans. The idea was by raising that tax it would accumulate enough for the baby boom generation retirement expense. And it was very close to enough to do just that. We are still redeeming those bonds each year. This essentially worked just like a trust fund except it deceived the taxpayers by hiding the loans that congress was spending at the time that would have to be repaid now. Social security HAS NEVER TAKEN A DIME FROM.INCOME TAX OR CORPORATE TAXES in fact it still has more money on the books than it spends. It is likely the only net positive part of our whole budget. Now your other taxes like income tax and corporate taxes ARE PAYING BACK LOANS that congress spent decades ago when redeeming those bonds. When all those bonds are redeemed in about ten years, Social security won't have enough coming in to pay all benefits due but the general fund will not have to pay back their borrowing and be much healthier. Social Security can fix their funding issues with some minor tweaks but the national debt and the general fund have much harder issues since they do not take in enough taxes to cover what they are spending. If this had properly been in the accounting, we would not have given tax breaks out like candy and this debt crisis would have been obvious twenty years ago or more. THIS HAS ALL BEEN FRAUDULENT BOOKKEEPING SINCE REAGAN'S CHANGES TO SOC SEC IN THE EARLY EIGHTIES. They hid stuff from the public JUST TO MAKE YOU HATE THE PROGRAM and fail to understand the real problem. You were tricked. By the way, when the special bonds run out in about ten years, most of the baby boomers will be dead and the stress on social security will be less so that fix almost worked out. The problem is we are living longer than they projected all those years ago but they got really close on their estimate. A few minor tweaks and social security can keep going forever. Not really a big issue. The real problem is that politicians have been lying to the public for so long that people have no clue about where the real issues are. I for one do not believe that was an accident.
As Warren Buffett pointed out, The US (unlike other countries) can borrow from itself via printing the money because it has the world reserve currency status. In other words, it is impossible for the US government to default on its debt.
Musk had done some crazy great things with tangible items. But his method; build, test to destruction, modify, repeat seems well suited to rockets and cars, but the US Economy? I am not sure we should be thinking quite that far out of the box.
everything else has failed for decades and continuing that approach promises nothing but more failure - something new is needed, look at Argentina, radical change produced a radically improved outcome after decades of failure
Twitter/X is not tangible. He slashed staff by over half. Manufacturing also live or dies on building efficiencies. Your comment is uneducated. I'm not an Elon fan but you are wrong.
@@neosapienz7885 Argentina WAS a mess for a long time, one year after Millei started slashing government spending they are now officially out of their recession and inflation is beginning to get under control. They still have a long way to go but the path is now clear and the population has hope for the first time in a long time. We need that here before it gets that bad.
@@stanmarcusgtv Everything else hasn't failed. Under Clinton, they set up a taskforce and had balanced the budget. Clinton/Gore showed it can be done. With that said, it is hard to stop deficits with constant wars.
@@rarefruit2320 We had a sensible proposal to partially address the budget with the Simpson Boles plan but it got shot down mainly because Republicans were not going to allow tax increases to go with spending cuts. Instead Paul Ryan thought we should eliminate virtually all discretionary spending.
Federal government "debt" is interest bearing money. When you cash in a government bond or bill you are paid non interest bearing money. Fed government debt is not like state debt or personal debt ans treating it that way does a disservice to your viwers.
I have a question. Whether does 20% social security include the expense for the people working in the corresponding departments or only the social security payouts?
Seems like so many opportunities to increase revenue side. How about a government gas enterprise, after all, private companies tap wells on public land? How about a government solar generation enterprise? How about worldwide internet service by a government takeover of starlink!? How about taxing the rich more? How about govt insurance for auto and property?
a balanced budget. every year. Mandatory. codified in the constitution. that's how we turn the corner . start with salaries of those in congress. term limits. another great idea.
You're speaking of "mandatory" as if it's an all or nothing. The issue is that ALL government agencies are wasteful and have inefficiencies/bureaucracies that can be substantially improved. Eliminating the wasteful spending (and maybe in some cases) complete elimination could be considered. But the goal (while the usual Elon optimism) is none the less aggressive in a way that targets the overspend and not reaching the 2 trillion is not necessarily a failure.
Ignoring the USA's debt is akin to whistling past the graveyard. This problem must be addressed before the value of the US dollar falls to nothing. BTW, I 100% hate the future US president, but let's fuc$ing go with tackling the US debt!
Your numbers do not make sense. You say 85% is mandatory spending at the 5:20 mark and that there is $6.1 trillion to be spent. At the 5:45 mark your chart shows that mandatory spending and net interest combine to be $4.5 trillion, which is 74% of the $6.1trillion. So 74% is mandatory and not 85%
Easy solution -- vote for whichever politician promises to raise taxes while cutting benefits, services and facilities. Funny how no-one ever seems to get elected running on that platform.
You are a smart guy, but I wouldn’t bet against Elon. Also, look at Argentina and their new president Javier Milei. Bottom line is that we have no choice, we must make radical changes to get us out of this mess. Reducing waste, debt, reducing regulations and growing our economy.
Obviously, the national debt is massive and unsustainable. Somebody needs to tackle this problem, and I trust businesspeople, like Elon and Viveck, a lot more than I trust the government, who created this problem. There is easily $2 Trillion in government waste, in my opinion. Seemingly "Mandatory" expenses like Military, includes hundreds of billions of dollars for Ukraine and "Social Security" includes hundreds of billions for illegal immigrants. On top of that is the overhead of the government itself. We could probably cut over half of that bureaucratic overhead and improve public services at the same time. There are way too many regulations, agencies and bureaucrats.
Elon and Vivek’s “short term pain” is disingenuous and self serving. I hope the Congress doesn’t buy the BS and if they do, People should not accept it meekly.
I think the ordinary people and at least the congressmembers understand and suport that 99 out of 100 persons whoe works for the federal government are working from home.
@@thorsrensen3162 so the janitors are working from home? Your numbers are way off. But not to worry, DOGE will fire-'em-all and sell off the federal real estate... and give the savings to Elon and the oligarchs via tax cuts.
It’s almost like we couldn’t afford those billionaire tax cuts five years ago. Well, they are about to expire this year, I’m sure the oligarchy will understand.
About half the military spending is for veterans (well deserved) - but essentially paying for past war efforts.... so 15% defense is at least 7.5% mandatory.
15% is budgeted but then they chuck them billion dollar approvals for Ukr aid packages that probably drive that up significantly especially if you factor the interest paid on that money and all the past wars. $7 trillion to replace the Taliban with the Taliban PLUS interest and liabilities
they should NEVER cut vital services to solve debt as they generate wealth. keep that in mind. if vivek wants to shut down fbi this is a BIG red flag as it is a vital service one of few things to combat big business and white collar crime.
Elon's plan is bizarre, but the national debt is okay. The problem is Elon's plan, not the national debt. We overspend over $2T, and that is not a problem. SMH!
The reason your comments are slanted negative is because you’re clearly outside of your expertise… e.g. speaking to “mandatory spend” as if there is no room to eliminate fraud,waste and abuse ignores a huge opportunity… Senator Kennedy just presented in a Senate sub-committee that there are 6.5 million Americans age 110 and older getting Social Security benefits - btw, there are only 40-50 people worldwide over age 110 - billions in fraud/waste.
The system will never be fixed because the lite parasites that control the government are using its power to make society work for them. Just as Samuel Adams for ten years before the revolution, warned the Amer. colonists that Britain was not going to change, the same thing applies to the US today. The rubes go and vote for all the puppet candidates in both fake parties in all key positions as if they have made a difference.
Musk's strong suite is finding people that think outside the box. He himself couldn't engineer his way out of a wet paper bag. But he doesn't have to. I don't know that he's going to find the type of unexplored areas in the financial realm like he has with cars and rockets though. Both those areas hadn't been innovative for decades - the old ways worked well enough to bring in enough money or get things into space that there weren't big drivers for innovation. But the financial realm is all about making money and that is a big driver for innovation. I wish him well but I suspect it's going to be smoke and mirrors dressing up the same old approaches of raise taxes, cut spending, and inflate out way out of debt. Here's your milkshake, that'll be 3 million please.
@@davidwindham5804 Could be. In ~40 years of following politics and economics you get a little jaded. But you also figure out that we don't have as much ability to change course as a lot of people think. I don't care who's pulling the knobs and levers. This isn't a republican/democrat thing.
The US can balance its budget easy peasy. Just tax the rich at the same rate you tax the poor. Or if Elon really wants to go after it, tax the richest people at a higher rate than the middle class. In the past, you did that and balanced the budget. Now for the 64k dollar question. Will super rich guys like Trump and Elon suggest they balance the budget by getting THEM to pay their fair share? Should be an easy question. They are there to serve the American people who are largely middle and lower class, and they are getting a free ride. Of course in the service of the people they will immediately think of paying their share. Or they will cancel health care and cite that winners pay their own bills.
Lots of false statements from someone with a bot user name. The rich are taxed at a higher rate already. Granted they typically don't pay that rate due to loopholes and businesses. Elon paid 11 billion in taxes in 2021 (source CNN).
There are two problems for your hypothesis. First of all there are not near enough rich people to pay off the deficit and the rich already pay the great bulk of taxes. Second the elite will NEVER balance the budget because that would require a deflationary situation where the currency is gaining in value. While this is good for the average person (contrary to what the MSM tell them) it does not allow for any transfer of wealth which is the main reason for the deficit.
@@YouKnowItMang Yes the rich pay the bulk of taxes. However lots of them are tied into the government clique like Gates, Buffet. Musk has gotten way more in government subsidies than what he pays and this does not include the 100% tariff on Chinese EV’s. If he had to compete in a free market (with zero tariffs) without huge amounts of tax money dumped on him, he would be out of business in less than a year. In fact practically no EV production would happen without government (taxpayer) subsidies.
@@marktapley7571 Even if I assume your math is correct, there are tons of articles that show guys like Elon pay single digit taxs and Trump pays around 0. And corporate tax rates are very low. Even if it doesn't quite solve the entire problem it seems logical it would be fair and go a long way if you actually tax the people who have 90% of the country's resources. What do republicans want to save money? They want to defund the IRS so that the cheaters cannot get caught. It is like saying the corporation will do better if they let the CEO rob it blind. I do not buy your arguement.
You and others of such little faith! My company was bleeding red for months on end and headed to bankruptcy. The only solution was to cut 40% of overhead expenses (from s a staff of 2000). All said bizarre, can’t do, but we did it. And 30 years later our staff of 800 still run a viable profitable company! All with pensions, 401K, and savings plan. All will retire in your top 10% wealth chart! The others let go was a a painful and personal process to do, but they too found viable careers and success outside of my company! Denial is the first reaction by our minds by design, acceptance quickly follows, as does ingenuity and innovation!
I agree that for companies and individuals, revenue must be equal to or greater than expenses long-term for survival. I also agree with the importance of a government living within its means as well. The primary objective of a government, however, is to cover the costs that are necessary but not feasible to be covered by the private individuals/corporations such as national defense, care for the vulnerable and so on. The government can cut costs and break even, however, it would need to abandon its primary objective. It could raise taxes, however, in the US, this is not a popular solution. My preference would be a combination of both. Cut wasteful costs and increase taxes.
It’s a super complex and important challenge. I hope they find the right balance of compassion, services for those that need them and finding some meaningful budget cuts. It won’t be easy.
@@AzulWellsCompassion is for those that can afford it. The country’s current and next generation can’t afford it. The needs of the many, outweigh the needs of the few.
@@PaulThornton-r4j Paul, I agree that those that can afford it should pay for it themselves. What do you propose for those that cannot, such as the individual with extreme medical conditions, the victims of natural disasters and so on. Should they be terminated due to their lack of money? The current system of government is designed to spread the cost of certain services across the entire population and to spread the cost of the services for those making the least across the entire population. If our system eliminated funding for those that could not afford the cost of the support they need, we would need to eliminate education for the bottom half of society. A lower middle class family of 4 could not afford basic education for two children for 12 years. Those children grow up to work in the stores and factories and produce the goods that we all consume.
I love your content, but this video misses the point of "why" Elons plan is bizarre? Do you feel that 2 trillion dollars cannot be found to cut? Is it the type of things he wants to cut? I sort of need more info to decide if I agree with your title.
You're doing a fantastic job! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
Considering that Trump and his cronies are responsible for a third of the national debt in just 4 years, I really don't think Republicans are responsible enough to tackle this.
Wish you had delved into the cost of the tax cuts that Trump engineered in his first term. That money probably wouldn't have balanced the budget but it would have reduced the deficit. Basically this tax cuts were financed by borrowing.
The reason we have this huge deficit is the tax cuts the Republicans have instituted from Reagan's time until today. If revenue has stayed the same we wouldn't be here.
EVs - another great way to save for THE USG: Most police departments buying Teslas save on average over $8k/year/car/EV - and with about 780,000.00 USG vehicles, that is a TON of savings and better air and more safety
Every major industrial country and economy in the world has a national debt lots of them a lot higher than US national debt. Seems to me that’s the way currency works. In light of that and in my opinion, this whole topic is just a red herring. Clinton balanced a budget. In fact he’s the only president probably in the last six years. It actually managed to balance a budget and every republican president promised to balance it and how many balanced it? Zero. So how did Clinton do it well he did cut spending, but he also refused to cut taxes. You see people that’s the key to pay off debt think about your own finances. Do you cut spending and then go ahead and quit your job? Or more wisely do you go out and try and make some extra income on the side. We have to start taxing rich people. They do not pay taxes. I don’t care what any right wing think tank says. Musk, Beznos,Zuckerberg…. all these guys all these billionaires will never pay in income tax. They don’t get paid and income. They get paid in stock options and then it’s borrow and die. They just simply take loans out on the equity in their options and they will never pay taxes on that they will die with it on the books. And when they pass on their options to their heirs , yippee yay their errors will be able to re-basis all those at the current value and not pay a single dime of taxes on all the appreciation that has happened over many years. So don’t talk to me about paying interest when we give billionaires a free life ride like that.
Growth is necessary. Without growth, we get recession. Recession means that the Markets get upset. The Market is God and everything will be done to support the Market otherwise we get a depression. DEBT is at unbelievable levels and any default on debt will lead to a catastrophe like the 2008 financial crisis. Unfortunately we see inflation and interest rates rising. Interest rising mean the debt gets more expensive to service. We are up to our necks in debt...Both private and Government. Every car or house bought today is with Debt. So obviously that debt mountain will keep on growing. Musk says that he can fix it. I hope he does, because if not, the whole World is in trouble. WE will be watching....
Please don’t conflate smart and rich. He didn’t invent any of the products of the companies he has stock in. He bought into each company that had products invented by others.
Musk is a “tribe” member (g.father head of WEF forerunner, Technocracy) related to the S.A. DeBeers and like Trump is in the clique. He is basically a front man like Bezos (Jorgensen), Jobs, Zuckerberg and many others.
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
This is precisely why I like having a portfolio coach guide my day-to-day market decisions: with their extensive knowledge of going long and short at the same time, using risk for its asymmetrical upside and laying it off as a hedge against the inevitable downward turns, their skillset makes it nearly impossible for them to underperform. I've been utilizing a portfolio coach for more than two years, and I've made over $800,000.
impressive gains! how can I get your advisor please, if you don’t mind me asking? I could really use a help as of now
My fiduciary is Stacy Lynn Staples. Just research the name. You’d find necessary details to work with a correspondence to set up an appointment..
Thanks a lot for this recommendation. I just looked her up, and I have sent her an email. I hope she gets back to me soon.
Having worked as government contractor on Space Shuttle, you do not understand government waste. Shuttle budget was $6 billion a year but only.$1.8 was actual budget for shuttle, the rest was tacked on because Congress approved Shuttle budget, new buildings, roads Johnson Space Center, student outreach, personal transportation vehicles, etc. When executives are transferred, government buys their home. There is so Redundancy throughout government, when I did projects my status reports were cut/paste into others status reports, some got cash rewards for my projects. You look at Social Security like all of it is going to payouts, not really, there are personnel cost, Redundancy at all levels, buildings, vehicles, jet travel, computers, maintenance, home purchased for transfers. Government pisses away money in overhead for every department. There are over 13 agencies regulating banks, seems like they could cut down to 3 or 4 agencies. Musk major task is to get rid of "Department of Redundancy Department" in every government department.
Don’t forget they operate on the premise of use it or lose it so it is inherent in the system to spend all then ask for more.
@@jaywimer4415 zero based budgeting fixes this all.
Musk has burned $3B to launch a banana into the Indian ocean.
At least he's an expert in waisting tax dollars.
@davet11 those test launches are his own money
Exactly. Its not that the 600K spent on watching lizards on a treadmill is 600K in savings, losing the personnel, building, logistics, transportation, perks, and whomever came up with the idea is the long term savings.
I’m sure everyone at Twitter thought their jobs were mandatory too. This will be fun to watch.
Trump is expected to mention Qardn Token this week and the ICO is already almost sold out
Source on the mention? Or are you a liar?
These are bots/scammers. Every UA-cam video with money related, you'll see these scammers posting every second. It's disgusting UA-cam can't figure out way to weed out these scammers
Well, to be honest, politicians decrease debt through inflation. Then we end up with currencies with a whole lot of zeros on it. Back just 30 years ago $1 million was something now everyone that owns a house in Canada and Australia is a millionaire.
These uncertainties will always be there. Thing is, every once in a while, the market does something so stupid it takes your breath away. If you’re not ready for it, you shouldn’t be in the market business. or get you a skilled practitioner.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor, seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 2years+ and I've netted over 2.8million.
please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with them?
I really don't like making such recommendations, because everybody's situation is unique. But there are many freelance advisors you could check out. I have been working with ''Melissa Terri Swayne’’ for about four years now, and she's really, really good. If she meets your discretion, then you could go ahead with her. I endorse her.
I just checked her out on google and I have sent her an email. I hope she gets back to me soon.
Elon Musk is doing this only as an advisor. The congress still handles the budget. Don't let this video make you think Elon is actually handling the country's money.
Elon is banking billions off Trump's economy. Don't think he is altruistic.
Elon is setting the agenda. He bought a President with his $250+ Million contributions to the campaign.
Since voters still outnumber taxpayers, none of this will ever happen.
Yes but then he threatens to “primary” any congressperson who opposes him with his own money to put his own puppet in their seat.
@@kjshy Musk just stopped Congress from passing a stop gap budget that would prevent the govt shutting down. He posts at least 100 times this morning that the deal Congress made shouldn’t go through. He wants people to be furloughed. The billionaire doesn’t care if he hurts people. He said it won’t hurt things b/c essential employees will cont to work. That’s like looking at your company (or Tesla or SpaceEx) and sending 85% of the people home except for whoever pays the bills and few key people and executives. You think that’s a good way to run a business? Think of operational impact if it last weeks. Work continues to flow in and it will back up. EM is so ignorant, I’m sure he does not realize that Congress passed a law that says if federal employees are furloughed that once called back they get back pay. So it’s stupid to furlough people! Waste of money! And it hurts the American people, because incoming work doesn’t stop, it just piles up! Congress has one job, pass a damn budget. They haven’t done their one job on time since I can remember. SMH
You don't need a Whorton degree to see this as the same old problem that we have faced for the last 50 years. The US Gov't. exists by deficit spending. Not since Clinton has there been a balanced Gov't. spending budget and it's unlikely to happen again any time soon.
X and Qardn Token are going to be merged. Easiest money in my life
The US government needs to get out of the social security and medicare business. They've shown that they are completely incompetent at both. We'd all be better off with private versions of both.
Social Security is paid for by members who contributed, Medicare and Medicade are not, true our interest on our debt is out of hand but billionares and some millionars are not paying their fair share. Corporations look to lowering their cost. Why must the middle class pay for all of it?
With Elon and Trump now working with Qardn Token is going to absolutely blow up
Azul, this is what I did for a living. Efficiency is the key word. Overhead, abuse and errors are ripe for improvement. I found it realistic to get 20% with focus. Without cutting any benefits to people. Rinse and repeat for every agency. Those of us in private industry have always lived under these rules. What is opportunity for organizations that have never competed for business? 20,30,40% don’t scare me.
thanks for adding some realistic evaluation --- Elon is such a PR animal I don't know where he gets his data for cutting $2T ---- that is 33% of $6.1T total -- sure 15% is definitely possible but when you say focus will give 20% you then go to 40% doesn't scare you. I don't see your optimism for doubling what you say you have experience in.
---- so a little hardship? for whom?
Sounds so easy.
Musk's Qardn Token announcement is coming soon. Easyest money if you get in on the ICO
The charts miss a few important things, for example, waste fraud and abuse even in the non-discretionary, plus that in the discretionary. Just because it is non-discretionary does not mean it cann ot be cleaned up. Most of all it treats the economy like it is zero-sum - that is no growth. The DOGE Boys have their work cut out that is for sure, even if they fall short of the goal it is worth doing. Position improvement is continuous.
The “wast, fraud, and abuse” has not been identified, proven, and tabulated. They have 18 month to complete the whole project. Sounds like a lot of hot air to me.
Even if all the hot air is great and actionable, DOGE will pass it to Congress where they will unfortunately wave it away.
@@ronaldwi6299 unless it can be handled by Trump through executive orders. Anything that is within the executive branch, and I think a lot of the government is within the executive branch, Trump can control through executive orders.
Qardn Token will go 100x after launch on Binance
The U.S. economy relies on ongoing credit and debt generation for sustenance. The Federal Reserve is expected to increase the money supply, leading to further debt accumulation for the average American. Meanwhile, foreign nations continue to desire the U.S. dollar, despite their own economies facing significant challenges, some even worse than that of the U.S. This situation raises concerns about who will ultimately bear the consequences of these economic dynamics.
They do say gold will crash in a liquidity crunch However, many of those holding precious metals are preparing for such an event. So they are unlikely to be forced sellers. The paper market would tank and hopefully collapse.
I wholeheartedly concur, which is why I appreciate giving an investment coach the power of decision-making. Given their specialized expertise and education, as well as the fact that each and every one of their skills is centered on harnessing risk for its asymmetrical potential and controlling it as a buffer against certain unfavorable developments, it is practically impossible for them to underperform. I have made over 1.5 million dollars working with an investment coach for more than two years.
pls how can I reach this expert, I need someone to help me manage my portfolio
Her name is “Stacy Lynn Staples” can't divulge much. Most likely, the internet should have her basic info, you can research if you like
I searched for her name on the internet, found her page, and reached out via email to schedule a conversation. Thank you.
During lean times my state instructs agencies to come up with 10% cuts annually. Of course, we have a balanced budget in our constitution that the US government doesn't, but forced cuts would be very helpful in these insane times.
Interesting that your state has a balanced budget requirement in its constitution. Which state? I thought my state, Utah, was the only one that had it. Looks like I was wrong about that …
@@AzulWells Georgia operates under a balanced budget.
All states should have a balanced budget since they do not have their own currency. Any government that can issue it's own currency should be fine IF THEY HAVE RESPONSIBLE OFFICIALS. That is our problem. The public is not educated enough to hire and fire proper representatives who take the budget seriously. We let them baffle us with BS and rob us blind. During times of trouble governments should cover demand gap and spend more BUT ONLY IF during times of prosperity they cut back and reign in spending to get back to balance. Right now every time we get a prosperous time, they give tax cuts to the rich instead of paying off debt. See GW Bush's tax cuts and Trump's tax cuts in 2018. No tax cut should be allowed until the NATIONAL DEBT IS TACKLED.
That may be part of why the legal society is trying to make so much money
It seems to me this video would have been a lot easier to follow and more logically presented if you'd clearly stated at the beginning of the video what Elon's plan is and then dissected it. Instead you take us through the meandering woods for a really long time before you share what plan you're talking about.
Kind of like all of his videos
I zoned out. I was interested at the start but it droned on and on……..
Ouch! (but I appreciate the constructive feedback). I’ll work on tightening it up. 🙏 Azul
@@AzulWells certainly didn’t mean to offend. Just constructive criticism. ❤️👍
@AzulWells that would be a good note in general. I like your topic choices and overall, your takes. You do tend to ramble.
We are on the "lower side of taxes"? Are you that out of touch? 30% is stolen by the feds up front from my paycheck. State of California then takes another 12%. So 42% of what i make i never see in my take home pay. Add in property taxes and its 50%. Flat tax EVERY ONE 25% accross the board!
The problem is that the tax rate for people like Elon is nowhere near 30% - it might not even be 10%. The wealthy and big corporations have figured out how to avoid paying their fair share of taxes. And then people like Elon want even more people to drive to work - so the government will have to keep spending money expanding roads.
Tell me, who is it that has a higher claim over you, than you?
The Government owes the tax not the people. You Americans are ....
Qardn Token is easily going to hit $1 this month
The savings is on the waste in the Mandatory programs, not the fact they are mandatory programs. Yes?
funny how folks pine for the good ole days when America was great and we were paying down our WWII debt but then shriek in horror at the idea of going back to a tax structure that supported those good ole days. When the top tax rate was 90% and corporation paid way way more in taxes.
Because they didnt pay more in taxes, per govt info that is open to the public. When the top rate was 90%, no one paid it because there were loopholes. Think politicians lying to you like SS goes into a trust fund, we know that that hardly ever happens. The loopholes went away, and the top marginal rates went down. When that happened the treasury received more tax revenue. Facts backed up by data, not covetous hyperbole.
@@grega2362 The Trust Fund is an expression for Special Bonds. It was easier to say that then explain how it worked. When Reagan changed the program in the early eighties, he nearly doubled the tax for both workers and employers and the extra funds not needed for payouts was put into the general fund but the fund issued special bonds to cover those loans. The idea was by raising that tax it would accumulate enough for the baby boom generation retirement expense. And it was very close to enough to do just that. We are still redeeming those bonds each year. This essentially worked just like a trust fund except it deceived the taxpayers by hiding the loans that congress was spending at the time that would have to be repaid now. Social security HAS NEVER TAKEN A DIME FROM.INCOME TAX OR CORPORATE TAXES in fact it still has more money on the books than it spends. It is likely the only net positive part of our whole budget.
Now your other taxes like income tax and corporate taxes ARE PAYING BACK LOANS that congress spent decades ago when redeeming those bonds. When all those bonds are redeemed in about ten years, Social security won't have enough coming in to pay all benefits due but the general fund will not have to pay back their borrowing and be much healthier. Social Security can fix their funding issues with some minor tweaks but the national debt and the general fund have much harder issues since they do not take in enough taxes to cover what they are spending. If this had properly been in the accounting, we would not have given tax breaks out like candy and this debt crisis would have been obvious twenty years ago or more.
THIS HAS ALL BEEN FRAUDULENT BOOKKEEPING SINCE REAGAN'S CHANGES TO SOC SEC IN THE EARLY EIGHTIES. They hid stuff from the public JUST TO MAKE YOU HATE THE PROGRAM and fail to understand the real problem. You were tricked. By the way, when the special bonds run out in about ten years, most of the baby boomers will be dead and the stress on social security will be less so that fix almost worked out. The problem is we are living longer than they projected all those years ago but they got really close on their estimate. A few minor tweaks and social security can keep going forever. Not really a big issue. The real problem is that politicians have been lying to the public for so long that people have no clue about where the real issues are. I for one do not believe that was an accident.
But why spent any time at all chasing symptoms of the root cause?
As Warren Buffett pointed out, The US (unlike other countries) can borrow from itself via printing the money because it has the world reserve currency status. In other words, it is impossible for the US government to default on its debt.
Does not guarantee no pain. Get real. Tired of seeing that line parroted over and over again.
Azul Elon is looking for people like you to help, call him and apply.
Not exactly...
Musk had done some crazy great things with tangible items. But his method; build, test to destruction, modify, repeat seems well suited to rockets and cars, but the US Economy? I am not sure we should be thinking quite that far out of the box.
everything else has failed for decades and continuing that approach promises nothing but more failure - something new is needed, look at Argentina, radical change produced a radically improved outcome after decades of failure
Twitter/X is not tangible. He slashed staff by over half. Manufacturing also live or dies on building efficiencies. Your comment is uneducated. I'm not an Elon fan but you are wrong.
@@stanmarcusgtvArgentina is a complete mess. I know people from Argentina.
@@neosapienz7885 Argentina WAS a mess for a long time, one year after Millei started slashing government spending they are now officially out of their recession and inflation is beginning to get under control. They still have a long way to go but the path is now clear and the population has hope for the first time in a long time. We need that here before it gets that bad.
@@stanmarcusgtv Everything else hasn't failed. Under Clinton, they set up a taskforce and had balanced the budget. Clinton/Gore showed it can be done. With that said, it is hard to stop deficits with constant wars.
Somebody better get serious about this debt with big numbers or we will be bankrupt
American is already Bankrupt, and all of Europe.
A nation that prints its own currency can’t be bankrupt.
@@davidhodgson3901 True but if do not see other issues you need to educate yourself.
How much could we save by getting rid of the house and the senate and let the people vote on real issues that matter to them
I like this!
No need, the Republic still exists
So there is no "plan" .
Just a goal to reduce expenditures.
They’re adding another agency 😂
@@rarefruit2320 We had a sensible proposal to partially address the budget with the Simpson Boles plan but it got shot down mainly because Republicans were not going to allow tax increases to go with spending cuts.
Instead Paul Ryan thought we should eliminate virtually all discretionary spending.
Elephant in the room: Colossal Corporate Tax Cuts that need to be reversed.
Alla Elons plans have been bizarre..but he succeeded...
is it bizarre or bold....or both?
Fair point. IMHO, it’s both.
@@AzulWells btw....I love your channel. Watch it every day. Just retired at 62. Keep up the good work.
Time for the finance people to step aside and let engineers solve the problem. Lol
Just like in a Dilbert cartoon!😅
Federal government "debt" is interest bearing money. When you cash in a government bond or bill you are paid non interest bearing money.
Fed government debt is not like state debt or personal debt ans treating it that way does a disservice to your viwers.
I have a question. Whether does 20% social security include the expense for the people working in the corresponding departments or only the social security payouts?
Seems like so many opportunities to increase revenue side. How about a government gas enterprise, after all, private companies tap wells on public land? How about a government solar generation enterprise? How about worldwide internet service by a government takeover of starlink!? How about taxing the rich more? How about govt insurance for auto and property?
a balanced budget. every year. Mandatory. codified in the constitution. that's how we turn the corner . start with salaries of those in congress. term limits. another great idea.
Leaks coming out about Trump working together with shareholders involved with Qardn Token
$36,190,278,779,883 and climbing by the minute - I like to see him try he is not even an elected official.
I’m sure tax cuts for corporations and the 1% will help Elon hit that 2 trillion reduction goal :)
Corporate taxes should be 75%.
Put Palantir and Elon on USG=MASSIVE COST CUTS - Insanely bad contracts and tons of NOT necessary costs are in ABUNDANCE!!!
If the cost of government was managed like a real business, we could achieve twice as much at half the cost.
You're speaking of "mandatory" as if it's an all or nothing. The issue is that ALL government agencies are wasteful and have inefficiencies/bureaucracies that can be substantially improved. Eliminating the wasteful spending (and maybe in some cases) complete elimination could be considered. But the goal (while the usual Elon optimism) is none the less aggressive in a way that targets the overspend and not reaching the 2 trillion is not necessarily a failure.
Ignoring the USA's debt is akin to whistling past the graveyard. This problem must be addressed before the value of the US dollar falls to nothing. BTW, I 100% hate the future US president, but let's fuc$ing go with tackling the US debt!
Your numbers do not make sense. You say 85% is mandatory spending at the 5:20 mark and that there is $6.1 trillion to be spent. At the 5:45 mark your chart shows that mandatory spending and net interest combine to be $4.5 trillion, which is 74% of the $6.1trillion. So 74% is mandatory and not 85%
Elon is learning as he goes. The end will be to quietly discover he can't fix it & move on to revolutionizing pumpkin spice.
Thank you for these great videos.
Easy solution -- vote for whichever politician promises to raise taxes while cutting benefits, services and facilities. Funny how no-one ever seems to get elected running on that platform.
You could just pay all the taxes yourself and solve everything right now
Qardn Token has two of the largest Tesla shareholders already; most likely something is coming
😂⚠️🇺🇸⚠️ give back all the welfare he took from taxpayers is a start. Cancel all his military contracts and welfare would equal $2 trillion.
You can’t help these people but I appreciate your efforts. Hopefully someone gets it
You're spot on!
Trump and Qardn Token partnership confirmed on twitter!! ICO almost sold out at $54m
Debt bad. Surplus good. It’s that simple. Do what it takes to course correct. No pain, no gain.
SSI adds nothing to the debt.
Not sure about Elon. He’s launching Starlink and US spy satellites at the same time 😏
You are a smart guy, but I wouldn’t bet against Elon. Also, look at Argentina and their new president Javier Milei. Bottom line is that we have no choice, we must make radical changes to get us out of this mess. Reducing waste, debt, reducing regulations and growing our economy.
Argentina is not dealing with 36 trillion and headed for 40 trillion before Trump is done.
Obviously, the national debt is massive and unsustainable. Somebody needs to tackle this problem, and I trust businesspeople, like Elon and Viveck, a lot more than I trust the government, who created this problem. There is easily $2 Trillion in government waste, in my opinion. Seemingly "Mandatory" expenses like Military, includes hundreds of billions of dollars for Ukraine and "Social Security" includes hundreds of billions for illegal immigrants. On top of that is the overhead of the government itself. We could probably cut over half of that bureaucratic overhead and improve public services at the same time. There are way too many regulations, agencies and bureaucrats.
Elon and Vivek’s “short term pain” is disingenuous and self serving. I hope the Congress doesn’t buy the BS and if they do, People should not accept it meekly.
I think the ordinary people and at least the congressmembers understand and suport that 99 out of 100 persons whoe works for the federal government are working from home.
Not really look at Argentina. Self serving how?
And do what? Keep spending like drunken sailors and keep their head in the sand? Come on man
@@thorsrensen3162 so the janitors are working from home? Your numbers are way off. But not to worry, DOGE will fire-'em-all and sell off the federal real estate... and give the savings to Elon and the oligarchs via tax cuts.
By all means let's continue to kick the can down the road and try to ignore the issue! Then when the can kicks you you can play the victim.
It’s almost like we couldn’t afford those billionaire tax cuts five years ago. Well, they are about to expire this year, I’m sure the oligarchy will understand.
Actually, the corporate tax cuts don’t expire, but the tax cuts for the middle class on down will expire this coming year.
@ sounds about right
About half the military spending is for veterans (well deserved) - but essentially paying for past war efforts.... so 15% defense is at least 7.5% mandatory.
15% is budgeted but then they chuck them billion dollar approvals for Ukr aid packages that probably drive that up significantly especially if you factor the interest paid on that money and all the past wars. $7 trillion to replace the Taliban with the Taliban PLUS interest and liabilities
they should NEVER cut vital services to solve debt as they generate wealth.
keep that in mind. if vivek wants to shut down fbi this is a BIG red flag as it is a vital service one of few things to combat big business and white collar crime.
They’re also a political tool
Elon's plan is bizarre, but the national debt is okay. The problem is Elon's plan, not the national debt. We overspend over $2T, and that is not a problem. SMH!
It's called the Triffin paradox/dilemma.
I doubt musk would be able to wrap his head around it.
Qardn Token is going to absolutely blow up
The reason your comments are slanted negative is because you’re clearly outside of your expertise… e.g. speaking to “mandatory spend” as if there is no room to eliminate fraud,waste and abuse ignores a huge opportunity… Senator Kennedy just presented in a Senate sub-committee that there are 6.5 million Americans age 110 and older getting Social Security benefits - btw, there are only 40-50 people worldwide over age 110 - billions in fraud/waste.
The system will never be fixed because the lite parasites that control the government are using its power to make society work for them. Just as Samuel Adams for ten years before the revolution, warned the Amer. colonists that Britain was not going to change, the same thing applies to the US today. The rubes go and vote for all the puppet candidates in both fake parties in all key positions as if they have made a difference.
Elon is Canadian
Born in South Africa. Married a Canadian to get citizenship there. And then committed crimes to get citizenship here.
Musk's strong suite is finding people that think outside the box. He himself couldn't engineer his way out of a wet paper bag. But he doesn't have to. I don't know that he's going to find the type of unexplored areas in the financial realm like he has with cars and rockets though. Both those areas hadn't been innovative for decades - the old ways worked well enough to bring in enough money or get things into space that there weren't big drivers for innovation. But the financial realm is all about making money and that is a big driver for innovation. I wish him well but I suspect it's going to be smoke and mirrors dressing up the same old approaches of raise taxes, cut spending, and inflate out way out of debt. Here's your milkshake, that'll be 3 million please.
We will see, your comment seems a bit biased. Just have a positive attitude and give it a chance.
@@davidwindham5804 Could be. In ~40 years of following politics and economics you get a little jaded. But you also figure out that we don't have as much ability to change course as a lot of people think. I don't care who's pulling the knobs and levers. This isn't a republican/democrat thing.
Why is it again, we are charging ourselves interest? This is intentional?
Doesn't social security have it's own separate funding outside of the general fund???
The US can balance its budget easy peasy. Just tax the rich at the same rate you tax the poor. Or if Elon really wants to go after it, tax the richest people at a higher rate than the middle class. In the past, you did that and balanced the budget.
Now for the 64k dollar question. Will super rich guys like Trump and Elon suggest they balance the budget by getting THEM to pay their fair share? Should be an easy question. They are there to serve the American people who are largely middle and lower class, and they are getting a free ride. Of course in the service of the people they will immediately think of paying their share.
Or they will cancel health care and cite that winners pay their own bills.
Lots of false statements from someone with a bot user name. The rich are taxed at a higher rate already. Granted they typically don't pay that rate due to loopholes and businesses. Elon paid 11 billion in taxes in 2021 (source CNN).
There are two problems for your hypothesis. First of all there are not near enough rich people to pay off the deficit and the rich already pay the great bulk of taxes. Second the elite will NEVER balance the budget because that would require a deflationary situation where the currency is gaining in value. While this is good for the average person (contrary to what the MSM tell them) it does not allow for any transfer of wealth which is the main reason for the deficit.
@@YouKnowItMang Yes the rich pay the bulk of taxes. However lots of them are tied into the government clique like Gates, Buffet. Musk has gotten way more in government subsidies than what he pays and this does not include the 100% tariff on Chinese EV’s. If he had to compete in a free market (with zero tariffs) without huge amounts of tax money dumped on him, he would be out of business in less than a year. In fact practically no EV production would happen without government (taxpayer) subsidies.
@@marktapley7571 But at least be fair; don't decrease taxes on the wealthy for a start.
@@marktapley7571 Even if I assume your math is correct, there are tons of articles that show guys like Elon pay single digit taxs and Trump pays around 0. And corporate tax rates are very low. Even if it doesn't quite solve the entire problem it seems logical it would be fair and go a long way if you actually tax the people who have 90% of the country's resources. What do republicans want to save money? They want to defund the IRS so that the cheaters cannot get caught. It is like saying the corporation will do better if they let the CEO rob it blind. I do not buy your arguement.
You and others of such little faith! My company was bleeding red for months on end and headed to bankruptcy. The only solution was to cut 40% of overhead expenses (from s a staff of 2000). All said bizarre, can’t do, but we did it. And 30 years later our staff of 800 still run a viable profitable company! All with pensions, 401K, and savings plan. All will retire in your top 10% wealth chart! The others let go was a a painful and personal process to do, but they too found viable careers and success outside of my company! Denial is the first reaction by our minds by design, acceptance quickly follows, as does ingenuity and innovation!
I agree that for companies and individuals, revenue must be equal to or greater than expenses long-term for survival. I also agree with the importance of a government living within its means as well.
The primary objective of a government, however, is to cover the costs that are necessary but not feasible to be covered by the private individuals/corporations such as national defense, care for the vulnerable and so on. The government can cut costs and break even, however, it would need to abandon its primary objective. It could raise taxes, however, in the US, this is not a popular solution. My preference would be a combination of both. Cut wasteful costs and increase taxes.
It’s a super complex and important challenge. I hope they find the right balance of compassion, services for those that need them and finding some meaningful budget cuts. It won’t be easy.
@@AzulWellsCompassion is for those that can afford it. The country’s current and next generation can’t afford it. The needs of the many, outweigh the needs of the few.
@@PaulThornton-r4j Paul, I agree that those that can afford it should pay for it themselves. What do you propose for those that cannot, such as the individual with extreme medical conditions, the victims of natural disasters and so on. Should they be terminated due to their lack of money? The current system of government is designed to spread the cost of certain services across the entire population and to spread the cost of the services for those making the least across the entire population.
If our system eliminated funding for those that could not afford the cost of the support they need, we would need to eliminate education for the bottom half of society. A lower middle class family of 4 could not afford basic education for two children for 12 years. Those children grow up to work in the stores and factories and produce the goods that we all consume.
Let us see if he cuts space x...I DOUBT IT
I love your content, but this video misses the point of "why" Elons plan is bizarre? Do you feel that 2 trillion dollars cannot be found to cut? Is it the type of things he wants to cut? I sort of need more info to decide if I agree with your title.
Maybe the billionaires should pay their fair share.
Typo on your graphics: interest not intrest at 3:45.
You're doing a fantastic job! Could you help me with something unrelated: My OKX wallet holds some USDT, and I have the seed phrase. (alarm fetch churn bridge exercise tape speak race clerk couch crater letter). What's the best way to send them to Binance?
Are the rockets mandatory?
Simple... Sell Guam to China as well as maybe Porto Rica.
Elon had a “bizarre” plan to launch private rockets into space but, son of a gun, there’s Space-X. 😂 I’m not counting anything out.
Yeah, he also had that big plan to launch his Cybertruck successfully, how’s that working out for him?
Not one of your best videos but thanks for trying
I am not sure what part is ‘bizarre’… ?
Considering that Trump and his cronies are responsible for a third of the national debt in just 4 years, I really don't think Republicans are responsible enough to tackle this.
Elon is gonna find that it’s easier to send a rocket to Mars and back then it is to fire a federal employee. 😕
Wish you had delved into the cost of the tax cuts that Trump engineered in his first term. That money probably wouldn't have balanced the budget but it would have reduced the deficit. Basically this tax cuts were financed by borrowing.
And now he wants to cut more for the rich? Think about it!
The reason we have this huge deficit is the tax cuts the Republicans have instituted from Reagan's time until today. If revenue has stayed the same we wouldn't be here.
What a big promise the video title made and what little the video said.
Did you even tell us what the "plan" actually is?
war bonds ,and other high yield bonds pull cash to a problem
EVs - another great way to save for THE USG: Most police departments buying Teslas save on average over $8k/year/car/EV - and with about 780,000.00 USG vehicles, that is a TON of savings and better air and more safety
Every major industrial country and economy in the world has a national debt lots of them a lot higher than US national debt. Seems to me that’s the way currency works. In light of that and in my opinion, this whole topic is just a red herring. Clinton balanced a budget. In fact he’s the only president probably in the last six years. It actually managed to balance a budget and every republican president promised to balance it and how many balanced it? Zero. So how did Clinton do it well he did cut spending, but he also refused to cut taxes. You see people that’s the key to pay off debt think about your own finances. Do you cut spending and then go ahead and quit your job? Or more wisely do you go out and try and make some extra income on the side. We have to start taxing rich people. They do not pay taxes. I don’t care what any right wing think tank says. Musk, Beznos,Zuckerberg…. all these guys all these billionaires will never pay in income tax. They don’t get paid and income. They get paid in stock options and then it’s borrow and die. They just simply take loans out on the equity in their options and they will never pay taxes on that they will die with it on the books. And when they pass on their options to their heirs , yippee yay their errors will be able to re-basis all those at the current value and not pay a single dime of taxes on all the appreciation that has happened over many years. So don’t talk to me about paying interest when we give billionaires a free life ride like that.
What is his plan?
To further enrich himself, of course.
Crack Up Boom is coming.
They need to open Anwar Oil Fields and charge the oil industry 50% or even higher to tap into it(send all that to the debt)!
Who else can we steal from?
If theres a debt theres an asset.
You can’t be saying that the Democrats rule was a good thing.
Well, talk to Milei and see !.
I am so happy for the people of Argentina. We could easily do this too.
Growth is necessary.
Without growth, we get recession.
Recession means that the Markets get upset.
The Market is God and everything will be done to support the Market otherwise we get a depression.
DEBT is at unbelievable levels and any default on debt will lead to a catastrophe like the 2008 financial crisis.
Unfortunately we see inflation and interest rates rising.
Interest rising mean the debt gets more expensive to service.
We are up to our necks in debt...Both private and Government.
Every car or house bought today is with Debt.
So obviously that debt mountain will keep on growing.
Musk says that he can fix it.
I hope he does, because if not, the whole World is in trouble.
WE will be watching....
I doubt God wants these scammers robbing and destroying the world
Tesla needs to sell vehicles without government subsidies. I don’t want to pay for your expensive EV thank you.
For a smart dude Elon I'm sure have something up his sleeves to pull this one off. i won't bet vs. him. :)
I am confident that Elon will do just fine with the cuts he is proposing. I don't think the rest of us will do as well.
This is a crypto commercial. Beware
Tax the rich and focus on fixing private healthcare instead, please.
Please don’t conflate smart and rich. He didn’t invent any of the products of the companies he has stock in. He bought into each company that had products invented by others.
Musk is a “tribe” member (g.father head of WEF forerunner, Technocracy) related to the S.A. DeBeers and like Trump is in the clique. He is basically a front man like Bezos (Jorgensen), Jobs, Zuckerberg and many others.
Most people believe that if you make more money you are smart. He just knows how to take advantage on the subsidy money from the government so well.
Sure but the best scammers in the world are still intelligent people