CBO says $1 Trillion Deficit | CheckBook IRA LLC Video

Hi, this is retirement guy with the money minute brought to you by Check Book IRA. You know, the Congressional Budget Office, the CBO, just released the latest figures on the amount of money that the US government has spent. We’ve got another $1 trillion dollar budget deficit for another year. So, that’s four years in a row of running $1 trillion deficit each year. That’s over $4 trillion dollars for the last four years.

That’s money that we had to borrow. The problem is no one’s lending. So we had to print it up, it’s a little complicated, but if you do much research about the federal reserve you realize that they’re not federal anymore than Federal Express, is but they’re a group of banks and they just issue IOUs, or notes, that’s what a Federal Reserve note is and they just print them up and they, in turn, loan them to the federal government so they’re able to keep spending money without raising your taxes but somebody’s going to pay. Probably our kids and our grandkids.

By spending that trillion dollars a year that is going to cause rapid inflation. I mean, gasoline is already doubled since the current administration took office. If you’ve been to the store at all you know things are going up. My wife is saying she went to the dollar store and things are still a dollar but instead of getting sixteen ounces you’ll get twelve or maybe you get ten, so they’re changing the packaging.

So, inflation is out there for anybody that can actually get out, come down from their ivory tower and take a look around. So, in this money minute really what we’re saying is, with a Check Book IRA, you have the opportunity to protect your retirement. And one of the things that people are recommending is buying gold and silver, natural physical coins. There are other videos we’ve made on why physical coins are better.

It gives you an opportunity to hold your retirement together while these crazy people just keep printing money and spending it. And you’re going to need to take care of your retirement because social security might not be there. And you work hard for your retirement.

So anyway, give us a call we’ll try to help out hopefully this money minute has helped you. This is retirement guy from Check Book IRA.