#Us debt clock how to#
#Us debt clock professional#

What is interesting about this is that if you increase the debt to boost the economy too much, you’ll have an adverse reaction.Īs you can see, there are some delicate roads to pave when trying to forge a path to reducing the national debt. The best solution is to cut spending on areas that do not create many jobs.”

That leads to lower revenues and a larger deficit. If the government cuts spending too much, economic growth will slow. Government spending is a component of GDP. They are two of the tools of contractionary fiscal policy. “Either of those can slow economic growth. Some of the more compelling stats included the in the US debt clock are as follows:Īccording to the, “the only way to reduce the debt is to either raise taxes or cut spending and impact the federal budget.

#Us debt clock professional#

The national debt clock is an incredible resource that will keep you equipped with the knowledge to have meaningful discussions in your personal and professional networks. This is updated in real time to show the alarming increase of our country’s national spending, allowing for predictive modeling for numerous industries. The national debt clock was invented by Seymour Durst in the late 80’s has since been a great tool used by many including those in the white house to address the issues with national debt. You should really be referencing this tool consistently to stay fresh on the current numbers.

Credit card debt and average per personĪs you can see, there are a lot of great elements you can reference to provide you more ammunition when talking to your clients about health care, real time federal government actions to the taxpayer, and total debt.Student loans and average debt per student.

Current US population and corresponding unemployment.

Largest budget items such as Medicare, Medicaid, Social Security, and War and Defense.

Some of the areas you’ll gain insight are as follows. Understanding economics and the moving parts of the US economy are an important part of being a well rounded and educated insurance agent or financial advisor.

#Us debt clock how to#

How to use US debt clock in your client presentations Whether you’re selling life insurance or annuities, the debt clock will arm you with value information to share with your clients. If you’re paying attention, you can begin to tell a more compelling story that will better resonate with your prospects and customers. These are all great points to talk to your clients about the risk of increasing taxes to transition to tax efficiency discussions.Īnother way is to compare the economic impacts from the white house changes of power such as the transition from Obama to Trump and Trump to Biden. How financial advisors use the US national debt clockĪs a financial advisor, you can reference the clock to arm yourself with the projected information such as the federal governments under funded liabilities such as Medicare and social security liability, and unemployment. The debt clock can serve you as an important tool to have deeper discussions with your clients. Since then, the debt clocked has served many insurance agents and financial advisors as an important sales tool to provide important insights to the the performance of the US economy. Seymour Durst invented the US National Debt Clock in 1989. In sales and marketing, the secret is to identify your target market accurately and to use effective marketing communications channels and tactics to reach it. Why is the US national debt clock important to insurance agents and financial advisors?