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Station, A very happy Tuesday to you.
Get the insight with Insight Scoop with Bright Barton News and are out latest on the election from Capitol Hill reporter Nick Gilbertson and the Daniel Davis Deep Dive at E thirty. In the meantime, welcome back's been too long for talking on the fifty five Cars Morning Show, the founder and creator Brain shout of his empower You America, Dan Regnold. Welcome back, Dan Regnold. I start by asking you, how are you enjoying retirement, my.
Friend, I don't know. I don't I don't know if I'll ever be retired, Brian, but thanks for asking, and it's so so so good to talk to you. And what about those folks leaving on that honor flight tomorrow. I want to send a shout out to them because that is such an incredibly great program. I hope they have the times of their lives.
They will, you know, it's true, having been on a couple myself, it's just it's a I don't see life altering, but It's one of those things you'll never ever forget. How could you forget it? It's a wonderful day, and I'm encouraged. Like Cribbage Mike did early in the program, get to CVG tomorrow for the welcome home ceremony. Try to get there about eight thirty the place we packed, and it would be just an absolutely wonderful shot of patriotism in the arm. Send chills down your spine and
may even cause an allergy attack or two. Dan, I've seen those, I've experienced them. Anyway, Perfect timing for your seminar tonight. Empower Youoamerica dot org. It's a virtual class only log in from the convenience of your own home. Just click the register button at the bottom of the page there and there's two seminars. Dan's gonna kick it off by having what he has done regularly now since I think twenty fifteen, a discussion about well, the budget.
You've been covering this for a long time. The results of our federal budget in twenty twenty four, Timing couldn't be better, Dan, I saw that we just passed a sad milestone. We now spend more on debt service for our national debt than we do on America's military.
It's hard, it's hard to believe. Yeah, you know, this is a scary topic. It's perfect for Halloween. And I've been covering it for I think this is the seventh or eighth time I've spoken on it, and I just I just do it because it's one of those issues. And you watch the election, nobody's talking about it. Nobody, you know, it's not one of the four things that people are talking about that in actuality it may be,
it may be the most important. And the Wall Street Journalist week had a quote that I thought was good to start off with, which is a deficit of this magnitude is unprecedented, and it's just hard to believe our country could be spending, you know, just spending their way to uh oblivity and to spend five trillion dollars to bring in five trillion dollars, but to spend seven trillion and add two trillion to our deficit, it's just hard to imagine.
Yeah, the debt payments hit eight hundred and eighty two billion dollars this most recent and fiscal year was just closed out, which represents the court of the Treasury Department a thirty five percent jump in interest payments, eight billion dollars more than we spent on national defense. And the trajectory doesn't stop, it continues to go up.
Yeah, and for those out there who want to know how much how much the federal government has to spend to borrow money last year, it was in fiscal year twenty four which just ended, they have to pay about three point three three percent for their debt and that went up about three quarters of a point and it's going to go up more next year. And yeah, we've just started. It's cost and it's more to service our
debt and we're paying for defense. And I think I think back in back in the seventeen seventy six, I think the reason we started this government was to defend UH, to defend our people against UH, you know, and and that was the main thing. But now now our main thing seems to be servicing our debt. It's going to go up to about one point three trillion dollars next
year to service the debt. And it's it's it's on a total path where you just kind of wonder where things are going to go because what has what happens is there's a term called crowding out, where that interest just crowds out anything else that you want to you know that you want to do, like all these plans that Trump and and and Harris have put forward in the In the talk tonight, which will be the first part of the class, I'll be I'll be talking about
all those plans that Trump has and how much they cost and what what how he hopes to make some of that up in revenue. And uh and Kamala Harris too, and and I heard you talk about Lachlin. I've got a good story right up on top of an empower Youoamerica dot org about the Lachlan situation. And when I was doing my investigation, I actually came up with, I think the first time I've heard how much this migrant
cost is really costing us. And these are two thousand and twenty three numbers the cost of the migrant crisis that's been studied pretty in depth. And I'll actually have a print out of every line on them of that tonight that people can download if they're interested in looking at it. Total federal expenditure sixty six billion, State in
local expenditures one hundred and fifteen million. They get thirty billion in taxes, So it's about one hundred and fifty billion dollars between federal and state expenditures on the micro cost.
That is just insanity, and that just keeps going up. And you talk, you are going to contrast Kama Harris what we know about her policies anyway, and the Trump policies because I keep reading, you know, there's been some newsworthy at least quasi legitimate outlets reporting that, well, Trump's policies are going to put us in debt further. And that's one of the criticisms I had about the Trump administration.
He had an opportunity to maybe pair back spending and bring things under control, and yet you know, his the deficit went up, or the national debt went up sizably under the Trump administration, not nearly as much as the Biden administration. But we don't seem to have a party out there that's interested in curbing spending to the point where we bring about some sense of what reality.
Yeah, and you know, like when I look at Trump's plan, that's the one one problem that just just kind of really surprises me about him, and that he said that, you know, it just doesn't matter to him really how much our debt is and how much he spends. And I guess that's one of the reasons I feel like I need to keep talking about this. Yes, I look at his kind of list of bullet points he wants to give away, and the taxes in overtime is a
big one, that's two hundred billion. But this tax on tips thing is really interesting that both of them want to do because at face value, it's only thirty billion, but in one estimate I saw said it could get to be over one hundred billion, just because these workers. They're creative, Brian, as we know, and a worker will figure out a way to change the classification of salary into tips, and before we know it, there will be no tax paid on any of that revenue.
I agree with you.
And how many IRS workers would we need to go through every tipped worker to make sure that's being done appropriately and within the bounds of the income tax laws.
Yeah.
Now, what I don't have a classification on the amount is on Harris's kind of home care program that she's talking about. But I loved what Trump said at the Al Smith dinner the other night about her home care project when he said Hey, Kamala, you know, if you get elected, you know, I wish you well with this home care thing. My one suggestion is just keep uh keep him, keep keep Doug Empoff away from the nannies.
Jeez, he can be humorous at times.
Yeah, But for those of you who just kind of want a cribsheet of what's going on with your your government, join us tonight for the first uh twenty minutes or half hour I'll have like a nice handout you can take and and at least, if at least I'll have a few ideas on things that we could do to fix the situation, at least bring the budget into balance, ideas that are out there and uh, and things you can think about, including we'll talk about something we we
talked about. I know you had on Rob Tuttle when we talked about a constitutional convention and you know, a few of the a few of the goods and a few of the bads of that.
I understand Jack Edda and you sat down for his podcast and talk about this very topic the other day.
Yeah, Yeah, it's it was always so great to talk to Jack, and I'm glad he's kind of a regular on your U on your show.
Now, So am I now real quick?
I have to ask one of the things that a lot of people I think across political spectrums are agreeing with that at least, if you're going to deport some of these illegal immigrants who in our country, you're going to at least need to deport the criminal element. And
I don't think anybody can object to that. But even dealing with just the criminal element, the expense of going through deportation because they're entitled to a hearing, and some countries won't take back the folks that we want to deport. You can't just send them into a country that didn't come from. So there is a massive expense that goes along with this. Hiring thousands of new judges to process these cases that are in backlog like a decade. That
alone represents a sizable increase. And of course you know they're all going to lawyer up with these NGOs. It's going to be a tough battle in each of these court proceedings. I suspect that's just one more cost of government, but it seems to be a necessary one. We're going to have to cut someplace dan in order to pay for what is really necessary and.
When you look at you know, one of the we'll talk about as the Social Security and Medicare window tonight, and when you look at those costs continuing to go up. I think it was seven percent last year. You know, where where's the where's that money gonna come from? And uh, it's just uh, it's just kind of looking at this whole debt situation, it's just kind of a it's a
Ponzi scheme. And and that's why you know, it's it's uh, it's so scary, but I want everybody to be aware of it because the results if we don't do something, or just more rampant inflation and like we've seen, which I know, I know scares everybody. And uh, we've got to you know, I've gotta gotta gotta lift our boots up and do something. After I talk about the debts to night, I've got a really interesting guy coming on the show. His name's David Boson. He's an investment Uh
runs an investment firm in California. He's written this book called Full Time. I was interested in the book because you know, I am kind of uh on that retirement window and and just he just argues, uh, He's got an interesting argument where where he are argues that work
really is the meaning of life. And he talks about the fact that we've got so many unhappy people because they're just not working very much, and the government, government isn't encouraging them to work, Churches, community leaders aren't encouraging them to work, and it's just creating a whole stream of problems which we know about from depression to anxiety
to just thirty seven million people using antidepressants. And he creates this whole kind of God driven approach that God created us to work and that it's the single most important thing in our life, and that really is work balance. And I think it'll be an interesting, interesting guest to talk after I hopefully don't scare everybody off off the program.
I hope not either. Yeah, work is its own reward. I'm a firm believer in that, you know, at least entitles you to the right to complain maybe about taxes or govern an intrusion, because you're actually paying the freight for that, and you have a right then to be a little bit more engaged politically, or at least some incentive be engaged a little more politically, just by virtue
of work. One more thing before we part company, Dan Ragnold again, it's empower you America dot org register seven pms a star time for Dan.
Tariffs.
Where do you come down on tariff? Donald Trump said the other day in that economic summ and he goes he thinks tariff, the word tariff needs its own marketing agency, because he believes it's the greatest, you know word in the English language. He's going to embrace them wholeheartedly. He's going to, you know, put a one hundred two hundred, three hundred He went rambling on, yeah, two thousand percent tariff on any vehicles coming from Mexico that should have
been made in America. And his whole ultimate point is, well, if I do this, then people will start building plants here because they won't be able to compete by making them in other countries. Many economists to the flip side say no, no, if you impose a tariff, then the rest of the world is going to do counter tariffs, and that'll reduce the demand for US goods abroad. Where you on this, Dan, just you know, I need to put you on the spot, but it's.
Really important to have to put me on the spot. So I was in my first kind of gig out of out of school. I taught economics at at at one of the universities and loved doing it, and and and I learned a lot. And what I was, what I was always taught Brian was under no circumstance should you ever put tariffs on anything, because that will take away the you know that you know, we buy stuff
that other people can make more efficiently. They buy stuff that we make more efficiently, And as soon as you impose a tariff, it puts an artificial constraint into that price mechanism, which you and I both know is so important for supplying demand. But Trump is just one of these guys who's strong enough with his whole way he can threaten people that, you know, maybe he can pull
it off. But I sure hope that we don't see tariffs, you know, at the range she's talking And let's hope that's just all kind of a you know, kind of his way of of of getting you know, getting elected and doing that. But no, I don't want to terrify on every single product that's purchased everywhere.
Well, speaking of artificial constrain and constraints, isn't that what makes us lack competitiveness in the world. We have so many constraints on the formation of business, regulation of business, how business are operated, osha EPA, regulation, mandates litigation. I mean, all of that doesn't exist in so many other countries
in the world. And that's why manufacturers gravitate to places where it's like China, where they get basically free labor and you know, unfittered access to energy powered by coal plants, you know what I mean.
Yeah, And if he can just reduce some of that deep state, all those regulations, wouldn't that just be a pleasant change?
And wouldn't that provide funding for some of these other things we're talking about. Dan Reguano, tonight, empower Youoamerica dot org. Mark it down and tune in at seven register in advance. Dan, thank you for what you do each and every day with the empower You summinar. It's just a great, great series of learning opportunities for folks and what a wide variety of topics. It's been a wonderful thing promoting it and talking with you about it over the years.
Thanks Brian. Great talking to you and your listeners today.
It's been our collective pleasure my friends seven twenty right now fifty five k see the talk station. We're going to have the book on bottom of the hour author Tom Claven Bandit Heaven, the Whole, the Wall, Gangs, and the final chapter of the Wild Wild West. After I mentioned Odo Exit od O, r xit dot com, noeotor exit dot com right now still available, you buy all
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