Would be easy. To do -- who talked. On. This school. And -- personal finance and throw it. They basically kick the can -- on the road. Here's some of the reasons that thought that was and a bad news. Verified -- At least. National and economist respected. -- Friedman column mr. keynesian economists liberal conservative. And here's what they agree. Public debt as a percentage of gross domestic product. Was about 38% in 196074%. -- We're approaching. Real possibility. Of 90%. And in this decade. Cataclysm. 247. Person. Who says that. Converge on Bush's budget office in -- people -- JPMorgan and probably won't proceed. Congressional Budget Office if their trust in today. For us is very difficult and they're for a vote for Democrats and Republicans. At least -- read it interest rate by. Past and bring you information. By 2020. Far. Entitlements -- -- So security Medicare medic who's. Not the military. -- aren't. Wasted money now on stolen money -- politician. Josh. -- story. Are projected. 2012. To suck up. All. All federal reverend. With -- believe the the American expert. Let's -- -- be international monetary. The issues they've been a month ago. America's long term obligations. Require. An immediate. 35%. Increased. -- taxes. 35%. On an all benefits. And what did the fiscal cliff there. -- -- 600 billion dollars. In ten years. Can you tell me. A present. I got something past aside from the big entitlement. An aide to enter the words -- Republican have to be like to enter. And it survived and here. Q there's room. Elections on. Issues change. Politicians changed the well. So far. We're gonna say 600 billion in ten years. During that. -- the congressional budget. They predict. We will and all and eight trillion. To -- sixteen trillion. Plots that we have now. And then on top and -- read it the nonpartisan. Economic reports that in -- -- here's what those. The average Medicare Koppel. Pay 809000. Dollars in the program. And yet it's 340000. Dollars. In benefits. That's according to the urban institute. As Stewart 34000 rooms and -- Don't believe the urban institute. That thing figures are wrong. Only reason I give him out. Is very chants. And maybe we ought to. Be where prepare. Here's another -- out last week. Director of the institute for quantitative. Social science at par and leave nor liberal. And then. Group of professors Dartmouth institute. Health policy and clinical practice. I'm entities or shouldn't trust him but. Just for conversations. -- and -- for the first time. -- quarter of certain. Social Security actually rein in deficit. 2010. Spent 49 billion dollars more. -- we brought him. And for the -- and -- from its trust. That cover. The short. I was four runs. Are expected. To London. Thirty million plots. -- retire. But that's what they -- Or the first time. They have discover. Says we learn. That the methods the government -- Antiquated. Subjective. -- objective. And needlessly complicate. And as a result. Are prone to error. And potential interference. -- political appointees. I think the American people. Sort of security administration. Underestimate. How long Americans will -- And how much trust fund would lead to Korea. To the tune. 800. Billion. 2000 there more. In the current annual defense budget. And that the trust funds will run. If nothing is done. Two or two years earlier the month the government. Is expecting. This project. So why would we do show. To consider. With your personal finances. We got the man I think it was some very interesting ideas bread poacher. With his own financial institute. Come and ride back you've got calls got the man to talk to you from -- 2001 and two. 203. And -- in the country -- in person to use it and Florida and Washington California told for an 86 it is and -- seven. And of course Texas itself so we'll hear that I brought -- -- gave you some reasons why you have been concerned about her. Fiscal finances. We're going to those who -- definitely in the stock market whatever. And we have a very good and then took place with -- -- or trees -- And central planner with portrayed financial Brad -- to commute via. Could be Rick Carlisle and joy to. Achieve. All think you know that the main thing we've been advocating change sort of -- -- of objectively look at everything -- you laid it out pretty well I think -- -- Canada and -- the most. Predictable train crash. And the history of time. And so I think it becomes a question. How much yeah. You try to take responsibility for your own future. And try to negotiate all the uncertainties and and and wanted to gain we've been going it does this idea that. You know the world sort of in the net income compression and we believe that's just. -- long arm period of rising taxes. Inflationary forces on our expenses are medical cost. And ultimately more moderating return on investment and ultimately what that done as a a compressing affect our lifestyle and I think it probably here to stay for a while looking Micah. All right let let me Jessica -- -- a couple of notes -- -- -- thinking about -- -- -- personal finances and you know I've talked with my little Conan and -- in the -- -- reading -- take virtual and put. Tracking there's been making the budget. Period how important is that. And -- at all this stuff going on -- is it productive boosted Werth walked. I had happily being one of the things we. Trying to hone in on our folks and I think this is an American challenge trying to determine which are discretionary expenses are are not discretionary and you know when you're when you I'm of the belief that we've been living far beyond our means for. For a long time we have when that happened we have a tendency to view. Luxury items. Not discretionary -- pretty quickly. And so I'm an advocate. You know declaring torture through clothing shelter in number is. And that ordered your. New your basics sustainability caught in a -- take. The budget out hammered out pretty good it would like -- To be comfortable and we abdicate. Sort of hammering that -- and investment scheme in terms of producing it predictable sustainable long term incumbent and and and you can subject. Here your luxury and come. More to the land of the twilight or Lebanon. Is that the usable for so many people. -- we regret. Credit card bills. Bigger than -- budget. Student loans. -- given credit card bills and home loans put together. Those. Budgeting. These. People have enough to -- I mean I think it comes down through you know but it comes down to a lot of time you know. Really trying to estimate what term affordability means -- barging common problem most people don't budget that would be. You know. The first observational. I think with the advent of -- art and credit cards. I know personally are relies on line. Debit card activity as a way of measuring my personal relation rate. How much more personal expenses are going out on not dependent on reliant upon what the government CPI figures are. Don't think you can use those people view budgeting and onerous task and they never really get around to doing it that sort of -- or one K and tennis and not enough for later. And I really don't get around to doing it in -- Five years or so until there their retirement -- so I would say that open. That baffling. We need to be looked at as as as individuals and optical only two people have to deal with all this sort intricate raised. Soon to be retiree -- out of challenges they've got to negotiate. And the younger generation and another channel and they have to negotiate. -- -- -- -- in my lonely road because yeah more loose with talk about the person news. Give me an idea what happened. Almost -- I can barely. Liked it I don't know belts and accretive. -- come to you. The truck and metro three hours in the room -- and -- -- whom didn't -- and reactions of car repairs -- What is entailed is that he pulled his take. A long time and you have to be -- it's more than. I you have to know you bell and should -- He would I don't think -- advocated having to be that complex at all one of the things we. One of the things I did not at the start trying to get my hands around -- -- And we put a little spreadsheet and destructive on the refrigerator every -- bill came in. We tried to make a -- -- it. And it's kind of measure it's for it's pretty enlightening experience to sort of document where it all going. Because when you sometimes when you see it on paper. It can change your habits and end. Bring unconscious spending to your conscious mind at least temporarily. I don't think you need to be some pain -- -- the -- most people view it that way which is why a lot of don't do it. Our government and do it. The most people feel like to live for today and and and we'll make do -- if things get more compressed while I do about I would argue that most people insecurity. It probably directly starch from not knowing what there. Are Korean company is. I read something that they knew and I think broad agreement on the league home -- and more but it was a very simple thing. -- incomes and consumer reports. A young person the juniors who puts 2000 dollars. And a compound -- bearing interest account. Somewhere it -- euros or whatever that five million books in Europe that true but I was. Talking to a friend of -- observers. Confused successful businessman. And it's a blow if it. And you know you get married house a little bit older. You can -- retire human pulled the money. How do you keep. From jumping into that even if -- article true. And -- suggested automatic. Satan. It's that set up. Automatic French troops from checked in investment. Retirement account. You just don't see it so you don't think about it. That bill. Yeah I mean I'm definitely an advocate you know most people here -- maximize pleasure minimized pain. And species and most people are gonna put off doing what they need to be dealing. While New Year's resolutions and that sort of thing -- I think. I think there have been a lot of that -- made and the retirement savings arena has an example. Now a lot of times when one employees we get hired. They they can often times either be automatically enrolled or. Their contributions and their 401K. Automatic increases associated with I think it just speaks to. That tendency cute at four door and we all know we need to be going. And I think I think any time -- in. We can we can do that think it's helpful and most people just need to really take more responsibility for their own future. I still think we have a really bad keeping up with the joneses. I culture problem there's an enormous pressure to. Can maintain a certain standard of living I think back yet most people. And that thing you know most -- caught or higher I have sort of a different. That issues but the thing I tell their kids. From everything you alluded to earlier Garland the plot so social safety net that our parents. Enjoyed today -- not going to be available for younger people. All the more -- and wanting to do you know as hard as it is to and to make more sacrifice earlier. And then so that they don't get caught with that down the road. Here's a question promoter of our listeners does. Sure. Those Brad believes the country will default -- it's that. I think he did -- mean you know. It depends on how you find fault. You know I'm an advocate. Charles Darwin that's not the stronger the species that survive or the most intelligent to go on most adaptable to change. I'm certainly not. All that intelligent but I am always willing to change and one of the things. Are probably changed on is my view. Of how likely. It is that. That we will be able UK. Our guarantee obligations as well these more provinces were sort of making. Are partially all the hours mathematically possible. We simply aren't -- -- enough human beings to. To make an -- works so. Somewhere down the law a renegotiation take place in order a level that now whether a -- politician declared that a legitimate default or not. I don't know but I I don't like -- lots of promises have been made that are going to turn out to be very out there and. -- -- -- You can't the only topic you'd talk about who we joke about the topics but it's important. If I was Smart radio talk show host. Wouldn't talk about the economy at all on notes depressed and and allotted time and usually hear and anymore. But I think. The mission statement having public airwaves. Is to put information out there that might be helpful. I guarantee that -- tortured. And I have deep respect for him. As a financial planner and -- He didn't do it for me god and when that have been -- years. Stay with him but this is really -- you you know you can turn it off bush. There could be some really tough times column. And when we come back you know. When asked him things like Fidelity Investments. And serving big service last year. And they say it's 60%. -- Don't carry on items considered money. So we get past that and your tax. Us -- particular -- the fiscal -- that debt limit. All problem we're facing this company country financially. Might do in Miami -- you financially and can you prepare for. Where that thought -- took a -- -- -- with certified financial planner with portrait from neutral to talk about it. Possible problem and possible interest. Brett -- -- -- broke I pulled out a thing of enlistment. Fidelity Investments and pretty big investment from. And then there's -- observers -- that 60%. Of its bounces disagree. About how they're gonna retire on the disabled with a table water. Is that a problem that you see and if so how to get past. You know I definitely think. Obviously communicating. Between -- on you know not even just how much -- what retirement looks like. You know what. What their legacy plan are also -- the differences between. State planning goals and and so one of the things we advocate is you know sitting down and really trying to hammer out what those goals are party even. Embarking on a serious saving strategy are certainly not about strategy. Until we've gotten -- Collective agreement terms of what we're trying to accomplish and I see that a lot. You know I think. Are they could step in this year currently encourage all our -- one of our mandate we try not even meet with individual. Out without being present at least not. They not want planning type conversations are taken place. Okay here's one of the Texan that's gotten him. Leads in the my question when -- said to you know win when we want to us when we want to reduce. In today's finances can and here's a losers says I'm. 47 years lol I mean that about 9000 dollars and 50000 dollars in student loans. Out of Oregon does that make Ingram 35000 a year. Yet and I think. I think obviously the way you do anything you have to commit to it and you have few. You have to decide that. -- now that delay gratification. Sacrifice today is -- Toward more now on the road. You know it actually that the biggest challenge that you people -- to declare -- more on that is. We've let people believe that. You know by simply going out and getting more education about that ultimately translate into more in common. I think what we've finally discover will eventually discovered that not that not necessarily the case. The way I got out of -- when I was younger was it makes sacrifices. Alou back which apparently -- -- on year round note on your mortgage payment or you got to figure out a way to get more productive and work a second child find out how to make more money your current job. You know you -- you can grow -- in com. Or culture expenses that the only way out of about what individuals are realizing about what our country realize her. This one rose prize. I don't know of these people Monrovia qualities. Managing director of retiree rich search center and neutral in new engines incorporated. And California company that manages 41 K accounts. National Association of Personal Financial Advisors. -- -- -- -- -- -- -- -- -- -- Many people program for serves cues from their retirement. But by devising strategies -- claiming benefits. You may be able to significantly increase in my your your surviving -- stand receive. For me and Koppel. It's pretty easy to find -- and -- 100000 dollars more. Out of the government. -- that just. Some kind of resort publication picked -- I don't know much about publication under the assertion resolutely true we actually one of the things that happened we've actually -- you incorporate software. The planned -- one of the things that happen in our society actually. Gotten more complicated and so a lot of the Social Security rules that were put in place that war. -- relevant just fifteen years ago -- now on -- relevant. Albeit divorce spewed people living longer. And so we actually. -- to -- people on is it any time anyone does financial planning that the typical little bomb. That takes some random. Longevity page and wrote a piece of paper and plan around that. The problem is if you use. If -- actuarial longevity tables. They stopped your age and gender card and at 2% chance the cut gonna apply the year and so. We sort of put all their campuses in the financial planning and sort of brought the article Wal-Mart the most important component of that when -- comes -- taking Social Security. A big part of how that plays out is dependent upon how long you'll and so we believe. It's important take a more scientific approach to the extent possible. Of accepting your arsenal longevity. And then definitely take advantage of all the different view on that -- would win the art. And I'll have a plan are you gonna go about Klein. -- we're gonna come back again with -- tortures certified financial -- -- -- and -- Talking about the state of the economy and what this may mean to you. And that an is that the rat. Or there ways to minimize that aren't there better ways and as they vehemently. We're gonna try to find that to. Here's an ethics committee Arlen. To insinuate that in over inflated sense about it and ABC bureaucracies and the federal government. Do not believe in the -- that crisis is misleading. I did not say that they don't of course they do their -- Produce -- -- because. All the reason and -- All of your content -- interview. So you can take that since the budget bureaucracies. The rupture and the overspending. It is rack general. Concerning. The entitlement program. Medicare Medicaid. Help in particular. Will destroy us unless changes are made not my words. The economists. Keynesian pro Friedman that usually disagree read. Agree. On that point. And I get that text -- we've. -- more information more thought from Brent. Or -- are certified public -- certified and in Portland. We're talking about how he might go handled the economic -- who lived -- -- I was looking only Hewitt in the help people who use their tax codes and everything -- see the conventional wisdom. The calls for it to get in trouble they -- the collectible Ben can brokerage accounts first. To give the -- and tax Rupert Peru can where one -- is Hillary's. More time to grow. -- some thinking. Tax free Roth Irish Kabila and laughed. But it brings some retirees. Particularly those with a large -- balances. May find they can save on taxes by tapping. That counts. All together simultaneously. Anything that. Well it certainly viable news typically spend down taxable accounts first we -- kind of doing. Strategic approach where you and you wanna have some money in -- -- are I think when it come irate and negotiate those. Now you know I'm a big advocate pat. If you openly believe in the net income compression. Pieces if you think pack are rising -- In 1960. I think the top rate was 91%. In. -- -- -- the only thing that as part of that grand bargain that we maybe one day at work out eat drink tax rate. -- -- We're advocating particularly for higher incomes. Considering converting their traditional IRAs. Over to -- buyer -- And what that is essentially doing -- manager. We don't really -- our traditional -- -- there are 30% of all about federal government in the form on the far. -- -- -- And if you think tax rate may arise. If you don't think you're gonna need that diary for an opt in come. It makes a lot of and convert that to a -- we believe last year it the most Sharon. Now cost more to do it -- the result of the rising taxes. But but ultimately. You know Talladega -- advocate of having a plan. And I think drew a lot of that stuff. -- had a time. You're able to sort of uniquely -- for your own. -- situation and how that distribution plan play out according your own tax situation room earning millions. And and a variety of -- urged. It airs another one you know we we talk about it. The biggest threat we have to our economy's health care. And again. Police regular employment department of health and human resources. So as 70%. Plots. Of the people that lived through -- -- five and there's. A lot of us are experiencing. Sticker shock and look at the premium. And they say that for each year you do Leahy. Getting long term care. The price screws up eight to 12%. Is that part of a plan and. Apple yeah one of the things most people are caught off guard by the content type in your budgeting. Questions earlier. Most old when neighbor and I think I retire. In what they're typically think it cannot stop working and sustain my lifestyle based opera. Resources like currently do coming to me one of the things most people do not. Taken consideration. Com are inflationary reality. Associated with -- Retirees in -- in particular retiree inflation. Probably twice -- -- What what younger inflation. Facts are due to health care costs and -- about it saying. Arms and long term care particular. Is. In in this situation that that aren't in your entitlement issue most people don't wanna they say they can't afford long term care. But ultimately Medicaid can't afford. At the ticket to continue to provide that same care -- In any sort of the perfect storm in terms of what people's expectations are -- -- I'll and ultimately what -- Set aside their little sport. Where that that's series of events sort of ultimately. Collide -- oh by. But definitely a long term care at it it makes a whole lot of sense to plant those -- on on and -- a lot sent the planned or. Rising healthcare premiums your medical costs are gonna continue to arise. At a rate faster than probably your -- -- investments are gonna -- so I'm planning -- -- Aren't there at the recent one of the reasons I called you we often do produce them. A -- -- in the fiscal lifts specifically. The impact of your retirement plan a lot of people -- get a chance talk to you. Where you gonna hold who what when and where. We're going to be doing it webinar format you can go right to our web site portrait financial -- -- hadn't registered there and and it's going to be about a 45 -- webpart and trying to use technology to communicate to clients and and the public can just keep them informed just what -- -- all this means and then the -- that the effects that happened there first or economists. Broad approach -- your very good talk and -- and the chances say happy new years so happy new. Near nuclear opera will be back where oh coming -- We'll have the cutting dubious. And in some questions that. And yeah. It's it's you get physically I don't think a lot of people. Are asking these questions. Because what it did them when don't look that. Want to lose veteran do. Garden. -- changes. In those that are report them or saying. Them and I tracked down. To see if there's in the evidence. In the packed house. That suggests the right or wrong. I think stumbled on some very interest in the and we're gonna have. Somebody that again it's. President Obama's plan and we knew we get the other side. But I think I've gotten up a stack of stuff to present that. And then afterward to think. On Robert and with them you know because it's and when -- three open. And we call it. The thing that. BC news talk and sports leader they'll create -- seven DW WL New Orleans 1053 WWL a famine HD 110 -- New Orleans and WWL dot com.