in the meantime here, and any of you follow dave ramsey, sort of a financial coach and i love dave, known him for decades. he watches what he spends because he has gotten in trouble himself, spends cash for everything and a debit card, doesn't believe in piling up debt. tough love and on his radio show he exhibits it, shows it. some people wince at it. this went viral when he did it. take a look. >> together we have probably just under a million dollars in debt. >> how old are you? >> i'm 29. >> okay. so what in the world? so we're hard at work, helping them achieve financial freedom. we're investing for our clients in the projects that power our economy. from the plains to the coasts, we help americans invest for their future. and help communities thrive. >> together we have probably just under a million dollars in debt. we have about $335,000 student loans and then about $136,000 in credit cards. 44,000 personal loans and 35,000 car loans. >> okay. how old are you? >> i am 29. >> okay. so what in the world? [laughter] >> so, yeah, we-- >> are you both on this or is this just one of you

dave ramsey, and living way beyond our means. seems we're also busy keeping up with the joins we don't even realize we're all the joins, desperate to live like everyone else, forgetting everyone else is trying to live like us. dave is here to turn all of that and all of us upside down. get off the merry go round because we don't have nearly the money to go around. as dave famously puts it, if you live like no one else, later you can live like no one else. i love that line. that goes for politicians, all the people they represent, spend less, save more now, live better, have what you want later. welcome everybody, i'm neil cavuto. sorry to get preachy with you on this day but i will get preachy with you on this day. meanwhile we're taking a look on the tax day a taxing day on corner of wall and broad. a bit of a soft market. larry glazer what he makes of that, larry. >> neil as you kick off earnings season we start with the banks, right? and you now goldman sachs would be in trouble this earnings season when they eliminated free c

dave ramsey practices tough debt love.women, young, old, that debt is the bain of their existence. if they don't get it under control, no matter how much they make, they're in a world of hurt. the same could apply to politicians in washington. i caught up with dave on my fox business show. he says this is the kind of thing every american needs to hear. take a look. >> she was just down. that's one of the reasons i was nice to her. i was clear but i wasn't jumping her case. >> neil: that was a version of you being nice? >> yeah. but listen, to tell lies in a situation like that and make it look okay -- that's not helpful. i love her. i want her to win. but she was ready. she was scared. under the sophisticated rhetoric, she was scared. by the end of the call, she was committed and we'll never know if her husband decided to jump on board and sacrifice. they had a good income. they were just completely out of control. it was time to rein everything in. it's a lot of stress. >> neil: despite your efforts to get this under cont

nearly hatch of parents are still supporting their full-grown lawrence: financial expert dave ramsey out with a new column warning parents against financially supporting their adult children. he warns they may be make their children too reliant on them. i asked the people of oklahoma city their thoughts on the trend. watch. >> more and more parents are paying all their kids' bills. you feel like this is a good idea? >> i have to say no. how are you going to learn responsibilities if someone is take care of you your whole life. >> you disagree. are you a mom? >> yes, five. lawrence: would you pay the bills like that. >> if you are helping them create independence, i don't see anything wrong with it. >> we don't pay all their bills. but we got to the point where we are not going to bail them out anymore. >> helping kids, i'm all for that. family is family. but there is a fine line. >> i teach them. i don't help them. if they struggle, then yeah. but at the same time, there is boundaries. >> it's good to help them save but you have to show them what the real world is like. >> my friends

personal finance guru dave ramsey getting into the fray. offered a plan for the debt ceiling. biden accused mccarthy of wanting america to default. he is expected to ramp up that rhetoric even further during his presidential speech in maryland today while politicians are bickering, americans are losing confidence in biden's economy. a new survey shows nearly 70% have a very negative view of our current and future economic status. peter doocy live from the white house. peter. >> they've been doing this survey for 17 years and this is as bad as it has ever been. only 12% of people who picked up the phone for the poll are optimistic about the economy and the way things are going in the future. president biden hoping to make the discourse about a difference between himself and speaker mccarthy on the economy. >> president biden: he did not tell the wealthy or powerful on wall street that it was finally time for them to start paying their fair share of taxes. that didn't come up. other than saying they will renew the $2 trillion tax cut. anyway,

joining us now is personal finance expert dave ramsey host of the ramsey show.millennials, 38%. is this a big deal if you don't have money for your retirement saved now and you are generation x which i'm right in the middle of? >> it's a big deal if you don't do anything about it. obviously you need to use it as a wake-up call. any of us when we wake up broke we need to do something different here. so again z and x, the ones we're talking to that are excellent and way ahead of the game and then you have the other end of the spectrum where they have done absolutely nothing, every generation has that and as you can see the 59 plus the boomers, we aren't any better sitting at about the same rate. good news for the gen x and z they have plenty of time if they decide to. >> dana: three things they should doing starting this next paycheck. >> let's get on a written budget so we make the money we have behave. start telling money what to do instead of wondering where it went. we get out of debt so we have plenty of money. instead of paying car and student loan payments

we heard from dave ramsey on friday and he said he is specifically concerned about food price inflationthe risks of inflation outweigh those of over tightening and you've got markets currently pricing a 5% peak for interest rates by september. what's interesting as when i speak to economists, they say one of the reasons that they keep undressing inflation is because of the difference between cpi and ppi. there is evidence of price gouging going on here. you can understand partly why policymakers still think they need to resort to the blunt tool of interest rates to deal with that. tom: what are the public finances here in the u.k. looking at? lizzy: you saw that the treasury ends the year with a deficit below 13.2% below the official forecast. that is despite all they spent on the energy subsidies despite the big spike in debt servicing costs but largely because you've got higher tax revenues. as we often say, britain's tax revenues reaching the highest in the postwar period. francine: lizzy burden, thanks so much. we will have plenty more on the market shortly. this is bloomberg. ♪ go

i want to get dave ramsey in. he has been big on credit for decades.e're going through whether or not americans learned the lesson from 2009. roll the ramsey tape. >> to win financially you have to back up to have a vision for the long term and when you don't you borrow yourself into oblivion. that is what americans are doing again. car debt is at an all-time high right now. credit card debt at all-time high. looks like my career will be intact as long as i want it to be helping people to get out of the mess because they continue to make messes like case sy. david: i'm glad he has job security. very quickly, is he right on this? >> he raises a very legitimate concern. i'm very worried some segment of the mortgage market is simply becoming too leveraged, the debt burdens will be too high. average home honer will be fine. there is a sliver i worry about not making through this in a good way. david: the perverse incentives will not help at all. mark calabria, thank you very much. go to brian brenberg, "the big money show." hear what they have coming up. h

i loved your interview with dave ramsey where you said we're keeping up with the jones but rarely dobody else is keeping up with. that might actually help companies like tesla in the end. the question you need to ask yourself is whether or not this trend is going to continue or can continue. it's going to take a lot of time and a lot of changes for america in other countries to become less materialistic which is why we deal in luxurious stocks. neil: you know, we talked about some of those premium players but i was talking to someone i wanted to bounce it off you who is saying, you know, neil, i'm going to get in this last chance i have on the high cd and savings rate of 5%, because i don't think these rates are going much higher and this is easy money, someone would take advantage of that. i thought to myself it happens now and then. could this be disrupted to the market, to the stock market and more people do that? i know some money has found its way in the money-market funds and the like with all of the market turbulence but what do you think of that idea, the last chance to take