Oct 15, 2026 · 45 min · 12 segments
Send us Fan Mail This episode Bill and Bill Discuss the national debt and its implications for or security and the midterm elections which are…
So let's break it down because the, the numbers trillions and billions to the average person is incomprehensible.
So let's, let's just say that you owe $41,000, and your income, uh, for the year is $51,000.
So what you do is you go and you get your credit cards to make up that difference.
So out of that 50, out of that $51,000 that you earn, uh, a fifth of that, uh, uh, uh, is going just to pay the interest on what you owe.
So instead of paying a fifth of your income, which would, in this case, a fifth of your income would be $10,000, it's gonna take about 15% of your income.
And then out of that 51,000 you have all your normal expenses that you've promised to pay people and everything else.
So let's break it down because the, the numbers trillions and billions to the average person is incomprehensible.
So let's, let's just say that you owe $41,000, and your income, uh, for the year is $51,000.
So what you do is you go and you get your credit cards to make up that difference.
So out of that 50, out of that $51,000 that you earn, uh, a fifth of that, uh, uh, uh, is going just to pay the interest on what you owe.
So instead of paying a fifth of your income, which would, in this case, a fifth of your income would be $10,000, it's gonna take about 15% of your income.
And then out of that 51,000 you have all your normal expenses that you've promised to pay people and everything else.
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