The Power Of Zero Show The US Debt Crisis: Will DOGE Really Move the Needle?
The episode explores whether the proposed Department of Government Efficiency (DOGE) will move the needle when it comes to the U.S. debt crisis.
Some people see DOGE as the bold move America needs to solve its looming debt crisis.
Elon Musk believes that DOGE can rip out at least $2 trillion out of the $6.5 trillion Biden-Harris budget – however, David McKnight disagrees.
David gives a breakdown of the federal budget, including the so-called non-discretionary spending.
Former U.S. Comptroller General David Walker shares his thoughts on what he sees as the potential impact of DOGE on the federal deficit.
David explains that, unless actions are taken right away, Social Security, Medicare, and Medicaid will eventually bankrupt America.
Moreover, the more time passes with the Federal Government failing to dramatically scale back such programs, the more onerous and draconian the fix will be on the back end.
Does David see DOGE as being able to move the needle on solving the national debt crisis? "Probably not," he says.
Mentioned in this episode:
David's upcoming book: The Guru Gap: How America's Financial Gurus Are Leading You Astray, and How to Get Back on Track
David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code
PowerOfZero.com (free 3-part video series)
@mcknightandco on Twitter
@davidcmcknight on Instagram
David McKnight on YouTube
Get David's Tax-free Tool Kit at taxfreetoolkit.com