How the Current U.S. Debt-to-GDP Trajectory Could Kill Your Retirement Plan

Today's episode is part 1 of David's interview with Dave Hall. David shares what he considers the fundamentals of his financial movement: "numbers don't lie." David cites a recent Penn Wharton study that illustrates two things that should be done by 2043 – and what will happen if these conditions aren't met. Dave and David discuss the debt-to-GDP ratio, and why debt isn't the problem. According to experts, when the debt-to-GDP gets past 75% it's when there's an eroding influence on your economic output over time. Dave and David go over when they started to track the $21 trillion dollar debt situation and related aspects. There's a demographic "time bomb" and it will have an impact on Social Security, Medicaid, and Medicare.  David talks about the big inverted pyramid, its relation to benefits, and the increasing tax rate forecast. Medicare is five times more expensive than Social Security, making it a harder thing to fix.     Mentioned in this episode: David's books: Power of Zero, Look Before You LIRP, The Volatility Shield, Tax-Free Income for Life and The Infinity Code DavidMcKnight.com DavidMcKnightBooks.com 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 Dave Hall Comeback America and America in 2040: Still a Superpower? by David Walker Penn Wharton Bill Gates David Walker's interview with David McKnight David Walker's Interview on 60 Minutes