The US DEBT CRISIS Is GETTING WORSE (What Should You Do?)

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Toby Mathis Esq | Tax Planning & Asset Protection

Күн бұрын

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Today, I'll discuss the pressing issue of the US national debt, explore what the future might hold, and suggest actionable steps you can take to navigate these challenging times.
The United States' national debt has surpassed $34 trillion and continues to grow by approximately $1 trillion every 100 days. This alarming rate of increase is primarily due to the government spending more than it receives.
Understanding the current state of the national debt and its implications can help individuals make informed financial decisions.
Watch this video as I break down the US debt crisis and explore what actions you can take.
🔔 Don't forget to subscribe for more insights on financial news and business strategies!
Show Notes:
0:00 Intro
1:41 National Deficit
3:15 Spending More Than Way Generate
6:15 Raising Taxes
8:27 Printing Money and Interest Rates
10:23 What You Should Be Doing
13:39 Combat Inflation
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ABOUT TOBY MATHIS
Toby Mathis, Esq. is the best-selling author of Infinity Investing: How the Rich Get Richer And How You Can Do The Same. Toby is a tax attorney and founded Anderson Business Advisors, one of the most successful law, tax, and estate planning companies in the United States. Learn more at aba.link/tobyaba
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The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.
#usdebt #debtcrisis #finance

Пікірлер: 75

@TobyMathis 23 күн бұрын

Join Infinity Investing as a Basic Member and learn how to combat inflation the correct way! 👉inf.link/dof

@BaileyJames-zv2ddd 16 күн бұрын

Our economy is afflicted by uncertainty, housing troubles, foreclosures, global shifts, and the aftermath of the epidemic, all of which contribute to instability. To restore stability and drive growth, all sectors must urgently address rising inflation, slowing GDP, and trade disruptions.

@Sanchyfab 19 күн бұрын

it's definitely a growing concern. The national debt has been increasing steadily over the years, and it's now reached historic levels

@FahretaTosic2435 23 күн бұрын

Not making up to a million before retirement is unfulfilled retirement.!! I’m 54 and my wife 50 we are both retired with over $7 million in net worth and no debts. Currently living smart and frugal with our money. No longer putting blames on FED for our misfortunes. Saving and investing lifestyle in the stock and forex market made it possible for us this early, even till now we earn weekly.

@mrwilliamwonder 23 күн бұрын

Liar

@FahretaTosic2435 21 күн бұрын

You are right but the market is profiting if you are using really a good broker or account manager to help out with trades or provide signals

@V.stones 23 күн бұрын

Feels like we're piling on more and more debt every day, with inflation already eating away at our savings a debt crisis on top of it feels like a recipe for disaster

@Deitricklaverne 23 күн бұрын

This debt stuff is confusing, will it affect my savings? And assets ?

@benjamineprg4249 23 күн бұрын

Investing or saving in uncertain times requires a cool head, the key is to stay informed but not overwhelmed by the news. The debt situation is complex but there are still good investment opportunities out there, diversification is your friend..

@frankfitz3421 23 күн бұрын

Why do we keep sending our money overseas? That's our money!

@loueckert4970 23 күн бұрын

Gold? Silver? Copper?

@elvispresley3234 23 күн бұрын

Cut gov spending is job number one.

@raymond3855 22 күн бұрын

Vote for a new president my friend, I am.

@nalazone5474 22 күн бұрын

I don’t owe shit, government owes not me

@okiejammer2736 22 күн бұрын

'We' owe.. 'We're' spending.. um. 'We're' gonna pay.. ?

@gary.haynes 23 күн бұрын

Another great quality video Toby. Your videos are well explained, with very relevant and pertinent information. Thanks.

@TobyMathis 22 күн бұрын

Glad you enjoyed it. Thanks for the feedback, it means a lot.

@willmallory9085 23 күн бұрын

Excellent video Brother. The interest on our debt is crazy right now!

@jackiebowser724 23 күн бұрын

We got money to give out to other countie but we in debt make it make since .please thanks😊🎉

@Ladyblogtest 23 күн бұрын

You are speaking our minds.

@Ladyblogtest 23 күн бұрын

Who is the United States in debt too? Jobs are being lost and incomes has not increased. How can the US collect on what isn't there to collect from?

@yellowbloodsilverfox 23 күн бұрын

Loved the analogy of $50K in 1970 in RE/Stocks/Cash. Cash gets trashed over time so get assets not a hard lesson to learn.

@brianpederson7315 22 күн бұрын

From my perspective, the government needs slash spending. Even at 100% tax rate, the government still outspends what it could possibly bring in.

@Slide61 22 күн бұрын

Disincentivizing PE LBOs would bump GDP 10% at a minimum as funds from pensions shifted from destroying companies to growing them.

@jackiebowser724 23 күн бұрын

We got money to give away explain

@dazedhavoc 23 күн бұрын

Do you think they will just monetize the debt once they can no longer afford it? If so, wouldn’t that drive long term bond prices higher? Like much higher?

@KenEwald-sr3ph 23 күн бұрын

Hello sir, can I do a 1031 exchange into a duplex and move into one side right away?

@TobyMathis 22 күн бұрын

I recommend registering for a complimentary consultation with my team. We'll tailor our advice to your specific needs. Sign up here: aba.link/rxq

@allcompilation6733 21 күн бұрын

Soo…why no one being punished and accountable?

@MENSA.lady2 2 күн бұрын

My suggestion, get out of $$$ and buy bullion. I prefer Gold but there are other viable options.

@Billionaireben 21 күн бұрын

The best hedges against inflation are medicare and owning a home, health insurance and housing are the most significant inflation items. To combat inflation, we need to cut regulation and encourage high volume timber (cut down and replant, normal houses aren't being built; it's only luxury homes and some built just for government leeches.) Trump said cutting oil prices would do more good than current interest price raises for cutting inflation (sorta, it's complex.) I do see risk that nobody admits to, the US could default; it would be funny if they defaulted and then bought that debt for 10 cents on the dollar and forgave it. There's no room for tax increases, increase tax on corporations and they'll just spend money growing it and say 'what profit' and the middle class is taxed too much already (especially self employed, 35% on first dollar income after expenses and it's not like they can deduct living expenses.)

@hakimmessaoudi1805 21 күн бұрын

Cut gov spending

@abeeiland2996 23 күн бұрын

Please let us know when you speak on subtitle A income taxes and explain how they affect average American citizens in the U.S.

@TobyMathis 22 күн бұрын

Thank you for the suggestion. I'll definitely consider recording that topic

@abeeiland2996 22 күн бұрын

@@TobyMathis we appreciate all you share with us. Thanks

@asdfshah-hb1pm 22 күн бұрын

Toby, I’ll disagree with you on govt debt ..We are a monetary sovereign country . federal spending shouldn’t be compared as personal finance ,state govt spending etc ..Without spending we cannot innovate ,develop new infrastructure, educate kids ,defense,run businesses etc ..if no spending we have recession 100% ..We are being told by paid think tankers , media etc that debt is bad so that there is always a gap between rich and poor ..

@andrewdiener3011 23 күн бұрын

I know what would help. Shrink all government programs across the board. No sacred cows. Cut everything by 3 percent every year forever. Make legislation to this effect. Private industry can slowly step up to outsource the majority of government services. Government can completely get out of healthcare, education, and social welfare programs. Charities and non profits could take over. Apprenticeships could take over most education. Annuities can replace social security. Stop spending on roads and go back to mostly rail. And default on debt held by foreign sovereign nations. Shrink military massively, close foreign bases. We have two oceans to protect from conventional attack!

@charlesjudeumahi689 19 күн бұрын

Does buddy have a discord channel?

@SoonerTri 23 күн бұрын

When you find yourself in a hole, the first thing to do is STOP DIGGING! We'll never get a handle on the debt until we stop adding to it.

@kurtisengle6256 23 күн бұрын

Well, what we ought to do is give the rich another tax cut, and cut services. Like social security and medicare. And make it illegal to complain. It's just that easy.

@user-yk5by3uc2b 23 күн бұрын

We need a CPA to run for president.

@micahlewis8891 23 күн бұрын

The government could also spend less.

@don_kandon6006 23 күн бұрын

Do you guys know why it was in clinton era? because usa had lowest taxes then. So people are smart, when it makes sense, people do not avoid paying tax, looking for schemes etc. They also tend to donate more etc.

@bstancel12 23 күн бұрын

Yes. The reason why it was last in the Clinton era that the United States government ran a surplus was because that was the only time a President was given the power of a line-item veto over the budget. Clinton used that to completely strike all Republican programs from the budget, leaving only funding for Democrat programs. That produced a surplus while he was in office because he shut down all Republican programs and only kept Democrat ones. That line item veto has not been granted to any President since Clinton, hence the continued deficits.

@DenanSeven 21 күн бұрын

It seems to me that unless US government cuts spending we are just chasing our tails the back of a runaway train heading over a cliff.

@Slide61 22 күн бұрын

Only country in the world that worries increasing GDP raises prices. Huh?????????

@Slide61 22 күн бұрын

Who would want to be the next president? We are literally and figuratively at the edge of the cliff.

@raymond3855 22 күн бұрын

This must be a mistake since little joe says we are in the best economy we have ever seen.

@anthonyminniti17 22 күн бұрын

Would have been nice if Trump didn’t lower corporate tax rate and not have a plan to reduce spending thereby exploding the debt

@willmallory9085 23 күн бұрын

8:00 and people forget that Congress and Trump STARTED the free money! Trump even wanted his signature on the paper checks.

@peterrodriguez3609 21 күн бұрын

What is your point? Biden continued the spending. The only difference is Trump "was forced to spend" when the world was dealing with a pandemic. Biden continued that but added a couple of regional conflicts to fund.

@willmallory9085 21 күн бұрын

@@peterrodriguez3609 People blame Biden, and Trump was never forced...he gloated over it. Trump & Biden are BOTH bad choices! We need an Independent candidate as both parties are bad!

@citizenadvocate 23 күн бұрын

Toby. Read the Deficit Myth. The idea that the govt is borrowing some external form of money is wrong. It is the issuer of the money it 'borrows'. It can always pay its debts. IF indeed the govt were borrowing some other entitie's currency - it could be in trouble - but that is not the case. If say Florida owed a lot of US $ it could be in trouble, but not the US Govt.

@user-py7wp6nw9h 23 күн бұрын

make sure you tell Janet Yellin that or Jerome Powell. Or better yet, get a free book from Misses institute. It s a fast read. And free

@mpetty9947 23 күн бұрын

The American dream is getting out of the USA as fast as you can.

@TB-LivingFree 23 күн бұрын

LeaveAnyComment &ThumbItUp 4AIgos

@jdmjdm2094 23 күн бұрын

The US doesn't really care about debt, only inflation.

@clauthequeen 21 күн бұрын

Coz you give pensions to immigrants who never worked in US. 😂

@jamess.2649 22 күн бұрын

End the fed buy bitcoin

@catcait2547 20 күн бұрын

"I cut deficit" means I create more problems to spend more money to resolve the problems created😂

@oscarwindham6016 23 күн бұрын

The credibility of this channel's host is immediately destroyed by his display of this "national debt" that does not exist. This being the case simply because all of these pseudo national debt $s are in fact we the peoples' electronically generated $s that do spend exactly the same as we the peoples' forty-hour workweek paycheck $s, nonetheless we the peoples' electronically generated $s are all quite impossible to borrow or payback, for that matter, thus there really is no such thing as our having a national debt. My full name is - Oscar Dean Windham.

@willmallory9085 23 күн бұрын

Solutions: Remove healthcare for inmates, make their families pay for it. Limit Welfare to 3 years, max 2 children total. If the mother can't do it, full custody to the father. Family Court laws need to change too, if we dissolved No Fault Divorce there'd be less women requesting the government to be their children's father (food, medical and shelter). There, I said it.