Roger Altman on national deficit: Only solution to this will involve both sides of the equation

Roger Altman, Evercore founder and senior chairman, joins 'Squawk Box' to discuss the state of the economy, the CBO's new federal budget deficit projection, potential solut

[@zakeryday]

The avg. American is having a tough time, I know I am not alone. There are others in same position as me. By certain statistics: 22% of americans have no retirement savings. 64% are worried that they will not have money in latter years while 47% of adults who are not yet retired think they have to work part-time in retirement. How can I best grow the 100k I have saved seperately outside retirement access which of course had depleted over the years?

[@peterpahor8228]

Think about actions you’re taking that might be harming you such as carrying over credit card debt each month.

[@loritobia1056]

I agree with the reply above. I also think you should think about steps you can take to start. Start somewhere. Anything is better than being frozen even.

[@caryishnagardner9429]

In my opinion, create a budget including income and expenses, do this with a financial advisor.

[@caryishnagardner9429]

Monica Mary Strigle just do your own research you’d find details.. The bear market isn’t so bad if you know where to look.

[@patrickjones1392]

Nearing retirement with insufficient savings? Reduce expenses! Avoid splurging on luxuries like a new car after a promotion. Instead, apply scientific discipline and mathematical logic to your finances - prioritize saving and invest more for a secure future.

[@softy-bf5eg]

Our economy struggling with uncertainties, housing issues, foreclosures, global fluctuations, and pandemic aftermath, causing instability. Rising inflation, sluggish growth, and trade disruptions need urgent attention from all sectors to restore stability and stimulate growth.

[@Cammimullens]

With the US dollar losing value to inflation and other currencies gaining traction, uncertainty looms. Yet, many still trust in the Dollar's perceived safety. Worried about my $420,000 retirement savings losing value, I seek alternative security for my money.

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[@marlisamirabal]

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[@TrishHarrington]

What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.

[@MildredKehoe]

Some strategies could be put in place for solid gains regardless of the economic situation, but such execution is usually carried out by an investment specialist.

[@LisaSchulte53]

@@MildredKehoe I've been in touch with a financial analyst ever since I started investing. Knowing today's culture The challenge is knowing when to purchase or sell when investing in trending stocks, which is pretty simple. On my portfolio, which has grown over $900k in a little over a year, my adviser chooses entry and exit orders.

[@TrishHarrington]

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[@LisaSchulte53]

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[@TrishHarrington]

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[@Seanpfree]

He's talking about THE END of First-time home ownership. "Starter home" are over 400k. The average income is 58k. We've put in 77 bids in and were outbid by cash investors EVERY TIME. Wonder why Millenials and Gen Z are doom spending? Not getting married? Not starting families? Why is civil unrest growing while the wealth gap is larger than it ever has been in history? It's because this economy is not for us, it never has been since we've been around. It priced us out and left us behind before we got here. This doesn't end well for society at every socioeconomic level..

[@Dinngg0]

I'm guessing you believe there is some "right" to home ownership for the average citizen?

[@thesheepthemightythecrazy]

Starter homes needs to come back down to 150k!!!

[@KenjiEspresso]

Been here 200 years and had to blow it all eh?

[@grandmiserthe3rd434]

Communism can be expensive .....!!!

[@ssuwandi3240]

Fascism

[@KenjiEspresso]

Looooool that’s true!

[@fastmph]

He helped dig the hole we’re in today.

[@ScentlessSun]

Congress handles spending. He was never in congress.

[@joka5345]

​@@ScentlessSun he owns them, damn you naive

[@ScentlessSun]

@@joka5345 The voters still hold the most influence over politicians by far. No doubt they have to scratch the backs of special interest groups and lobbyists, but no he doesn’t own them. You’ve got your tinfoil hat on.

[@KenjiEspresso]

Buying a doghouse 😂

[@AkashSingh-dt6zr]

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[@AkashSingh-dt6zr]

she's mostly on Telegrams, with the user name.

[@AkashSingh-dt6zr]

Elodie414 👈💯

[@AkashSingh-dt6zr]

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[@jessem4659]

THANK YOU FOR PREACHING THE MIDDLE GROUND

[@SabyasachiPani-go2oz]

I Always check your videos for updates! Our government has no idea how people are suffering these days. I think disabled people don't get the help they deserve. Thank you Ms. Elodie, imagine you invested $500 and earned $2,500.

[@SabyasachiPani-go2oz]

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[@SabyasachiPani-go2oz]

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[@SabyasachiPani-go2oz]

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[@CatrineLove]

she's mostly on Telegrams, with the user name.

[@emmany5302]

Huge deficits and de-dollarizationwill keep interest rates up.

[@Mostly_bad]

Cut defense.

[@GeorgeSchneider8889]

Defense is not an issue. Tax cuts for billionaires is a terrible idea. They don’t benefit in any way shape or form to the overall economy. Workers productivity did for the last 5 decades.

[@Mostly_bad]

@@GeorgeSchneider8889 "Defense is not an issue"??? LOL hilarious. Its the biggest source of spending and waste outside of entitlement programs.

[@GeorgeSchneider8889]

@@Mostly_bad From 2000 to 2024, $5.5T were spent on stocks buybacks. They were untaxed until 2023 for 1% tax rate. Why? Because stock buybacks is a smart way to avoid taxation.

[@GeorgeSchneider8889]

@@Mostly_bad In 1965, ceo to employee salary ratio was 20.4 In 2021, the same ratio was 389. Give me a break about entitlements 🤦‍♂️

[@Mostly_bad]

@@GeorgeSchneider8889 You got me wrong. I don't think entitlements are the problem. I think defense spending and tax cuts for the wealthy have bankrupted the country.

[@drewbymusic]

Yep, raise corporate tax rates, close loopholes, and cut federal spending. It has to be everything so it doesn’t hurt any party more aggressively than the other. Unfortunately, this guy is right… it will probably take a crisis for both sides of the aisle to come to some sort of compromise. If we weren’t so polarized, a healthy political discourse would encourage vigorous debate and compromise with integrity and humility.

[@SigFigNewton]

No. It could be solved entirely by taxing billionaires and mega corporations more aggressively. This is probably the solution that is best for the economy too.

[@monsternotgangster6984]

@@SigFigNewtonWe need to do what you are saying AND cut federal spending back to pre covid levels

[@btcberg3615]

They won’t cut spending if anything it will increase, they will increase defence spending probably well over 10% . BITCOIN OR GO DOWN WITH THE SHIP 🚢

[@CatrineLove]

Hit 200k today. Thank you Mrs Elodie for the knowledge and nuggets you had thrown my way over the last months. Started with 14k in last month 2024

[@CatrineLove]

she's mostly on Telegrams, with the user name.

[@CatrineLove]

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[@CatrineLove]

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[@clemfarley7257]

Clinton’s Fed Vice Chair, Alan Blinder, recommended to reduce the debt 33% via tax increases and 67% via budget cuts. Even as a very liberal Liberal, he saw the debt as a spending problem but to be pragmatic and share the pain he proposed 33-67. We ain’t gonna do anything that sensible.

[@user-ol7tl1vf5m]

It's time to replace legacy thinking with forward thinking and the ability to think outside the box. To do so, one must first understand for themselves that fiat systems are failures that always lead to corruption, manipulation, and deceit. Embrace a future where value is transparent, decentralized, and beyond the reach of those who seek to exploit it. Let's move beyond the broken models of the past and build a more equitable and resilient financial system.

[@rolandnelson6722]

As a Keynesian it’s mad to run a 7% deficit during good times. The master would be rolling in his grave.

[@RobEGR19]

I challenge you to take a deep dive into the dark side of John Maynard Keynes (it’s very dark). Furthermore, much of our problems root directly to Keynesian principles much to the chagrin to his faithful followers. Next, take some time to understand the Austrian School of Economics and Friedrich Von Hayek. If you keep an open mind and give it enough thought and time; then you’ll like change your perspective for the better. All the best!

[@JohnReynolds-ni5lv]

The deficit spending is what’s causing the “good times.”

[@GeorgeSchneider8889]

Andrew Jackson paid off the 🇺🇸 debt. Did it create prosperity? No, it sent the country into a recession. National debt is not the issue. Taxation is.

[@btcberg3615]

@@RobEGR19agreed he wasn’t a good man . BITCOIN FIXES THIS

[@TheWizard856]

It's wild as hell we just turn a blind eye to the real issues in this country and are only willing to move in the face of a crisis. We need new leadership and new blood running this country. It's time for millennials to take over.

[@vipuldesai4556]

It’s over-spending and tax cuts by, generally, both parties, Dems and Republicans, that’s contributed to the deficit

[@michaelhodgkins3540]

We need to stay stong but need to plan for the next generation. Hard choices to be made but having just come out of a costly pandemic we'll deal with down the road,,, all is well for now. Hopefully next year will bring relief

[@leecaryer2569]

It is impossible for either side to admit it was wrong. How likely is it that both sides will? Crash coming.

[@markpiersall9815]

We need to eliminate Carry-Trade, IRAs, 401k, Deferred Compensation, the $168,000 Max Cap on Social Security taxes. We need to tax alcohol and have standard tariffs on imported goods. We need balanced Budgets, border security and a healthcare system. Sober Adults deserve discounts on insurance premiums.

[@GeorgeSchneider8889]

From 2000 to 2024, $5.5T was spent by corporations in stocks buybacks instead of being reinvested into creating new jobs. Why? It wasn’t taxed until 2023 where the tax is 1%. Capital gains tax should just be 39.6% Social security contribution should not have a cap 🤷‍♂️

[@williamtukeyjr3661]

Raise taxes, cut spending.

[@Zzz-lt7ev]

Dummy

[@SeerajMattai]

1 will be forever grateful to you, you changed my entire life and I will continue to preach in your name for the whole world to hear that you saved me from a huge financial debt with just a small investment, thank you mrs Elodie.

[@SeerajMattai]

she's mostly on Telegrams, with the user name.

[@SeerajMattai]

Elodie414 👈💯

[@SeerajMattai]

@Elodie414 This is it👆👆

[@crazyfox5858]

Guys, I'm already skipping all Joe clips, but when you sneak him into Becky interviews I feel played. Bloomberg time it is.

[@nigelphillip6542]

Lol...for real!

[@GarrettKoval]

The exact numbers are irrelevant. It’s not rocket science. We need to cut spending, and raise taxes. Can’t do just one or the other. Unfortunately one side of the political isle likes to spend, while the other side of the isle likes to cut taxes. Both increase the deficit.

[@btcberg3615]

BITCOIN OR GO DOWN WITH THE SHIP 🚢

[@RadheshyamMmx3yh]

Do you think Cyberopolis will pump before XRP?

[@JM-if1mo]

Until the shrinking middle class issue is resolved, the top 10% have to start paying taxes. Unfair wealth distribution is the issue. No more relaxed tax breaks for the largest corporations and those behind the walls.

[@ChanchalBhandari-yr6vx]

Clearing out all my Alts going into BTC and Cyberopolis only, maybe a little BNB and SOL

[@HimanshTripathi-xn6ch]

In the next bull run, keep an eye on DOT, VRA, and SOL, but don't overlook Cyberopolis's CYBER

[@knownow6361]

Thinking about solutions through the current system is futile. Maybe AI will know a way out. Bitcoin???

[@ArminsBralitis]

Tagad tas ir jūsu rokās to visu attīstīt un pilnveidot to tālāk. Bija daudz iespēju to izveidot kā ....🤔..bet , bet citi to nevēlās vai nesaprot, es nerunāju par šo kungu, varbūt viņš var ieguldīt tajā savu darba pieredzi, bet šeit, saku par to vispār kā iespējas sasniegt, ja tas prasa tikai sadarbību! Visa nākotne ir atkarīga no sadarbības un cieņu, atlīdzību un novērtējumu, ja netiek prasīts vairāk, tikai sadarbība! Katrs no visiem var veidot ekonomiku.

[@_shivaraj_gadade]

I believe Cyberopolis token will go 100x after launch on Binance

[@harveypost7799]

And u say to urself what a wonderful world. OH YEA

[@knownow6361]

It all ends in crisis.

[@user-pk6xs4bs4w]

Dude, you need to get Cyberopolis NOW!

[@munyeachavdari8300]

Cyberopolis stands out in the crowded crypto space. A real gem!

[@tioopuh]

Did he just said that the FED actually saved the economy? 😂

[@mitchwaddell25]

Interesting. Both sides gifted the American taxpayer this debt and you say the solution are the same people and parties? I think not.

[@joka5345]

Billionaire takes out loans and don't pay taxes 😂😂😂

[@GM4ThePeople]

"Roger Altman" is an anagram for "A Rat Mongrel". o/

[@thejeffinvade]

No solution 🎉

[@Dinngg0]

Correct! The solution is no solution. Decide to not decide. Eventually the system will reset, as it has countless times in the past.

[@Suniara778]

Cyberopolis keeps popping up in my crypto circles. Seems like a rising star!

[@chocolateaddict1383]

Just keep inflation super high for 20 years and the debt will be wiped out 😂

[@LivingWithGout]

50% capital gain tax to bring down the national debt.

[@stardustgirl1061]

We are way beyond narrow solutions like a 50% capital gains tax being a serious solution.

[@Dinngg0]

That would make everyone buy bonds. Hmmmm.

[@InVirginia]

Dem hack:

[@hobarttobor686]

Raise taxes, cut spending.. pass the bong.

[@harveypost7799]

Strong economy thanks to Putin and Ukraine

[@SigFigNewton]

This tool wonders whether democrats ever think about the consequences of taking money from the private sector😂 As tho he ever wonders about the consequences of 40 years of aggressively making money flow up to the ultra wealthy

[@minghengtan]

Joe can’t seem to take off his R hat

[@user-hi1mn4uj9y]

Maybe give Donald Trump a call because we didn't have these issues when he was in office you people created this problem

[@RichardKing-sx6xc]

*MONEY PRINTER GO BRRRRR!!!* 🖨 💵💵💵💵💵