Trump and Dave Ramsey Break Down '$8 Eggs, $5 Gas and 7% Interest Rates' – Can Anyone Afford a House in This Economy?

Dave Ramsey recently hosted an engaging conversation with former President Donald Trump, focusing on pressing financial concerns. Ramsey, known for his straightforward personal finance advice, kicked off the interview by reminding listeners that his show is about money, not politics. 

Don't Miss:

• The average American couple has saved this much money for retirement — How do you compare?
• Can you guess how many Americans successfully retire with $1,000,000 saved? The percentage may shock you.

However, with the upcoming election in mind, he said, “I invited both candidates to discuss ideas and what's going to happen.” While Vice President Kamala Harris’s team had yet to respond to Ramsey’s invitation, Trump quickly sat down to share his thoughts.

Ramsey’s listeners are more worried about skyrocketing costs than politics and he didn't hold back when bringing up their concerns. "People aren't as bothered by all the political drama," he told Trump. "They're focused on $8 eggs, $5 gas, 7% interest rates and houses they can't afford. Wages aren't keeping up and inflation's out of control."

Trending: Studies show 50% of consumers think Financial Advisors cost much more than they do — to debunk this, this company provides matching for free and a complimentary first call with the matched advisor.

In response, Trump connected inflation to energy prices. “The first thing I'd do to lower costs is drill. We've got to drill, baby, drill,” he said confidently, promising to ramp up domestic oil production if he wins in 2024. 

According to Trump, this would bring down oil prices and help ease inflation. “Lower energy prices take the pressure off the economy and reduce inflation overall,” he added.

However, the Bureau of Labor Statistics reported that the average price of eggs had dropped to $3.20 per dozen by August. The national average price for gas is currently $3.177 per gallon, based on data from AAA. Mortgage rates spiked to 8% in 2023 and have since eased. As of Sept. 26, Freddie Mac reported that the average rate for a 30-year fixed mortgage was down to 6.08%. 

Trending: A billion-dollar investment strategy with minimums as low as $10 — you can become part of the next big real estate boom today.

The combination of the pandemic and global events like the Russia-Ukraine conflict hasn't helped either. Meanwhile, Harris has defended the Biden administration's efforts, pointing out that domestic oil production is at an all-time high. She's also a strong advocate for investing in renewable energy to reduce dependency on foreign oil.

The conversation then turned to Social Security, an issue many Americans are concerned about. Experts have warned that the Social Security Trust Fund could run dry in just eight years. When asked about solutions, Trump vowed to protect the program without raising the retirement age. 

"We need to keep it solid," he emphasized, although he controversially claimed that migrants receiving public benefits were part of the problem – a point fact-checkers have repeatedly refuted.

See Also: I’m 62 Years Old And Have $1.2 Million Saved. Is This Enough to Retire Stress-Free?

Trump reiterated his familiar stance on taxes: lower corporate taxes and introduce tariffs on foreign goods to boost American manufacturing. "You make your product here, you pay 15% and I'll slap tariffs on countries that try to undercut us," he stated. But experts aren't so sure. 

Economists estimate that Trump's tax cuts from 2017 could add nearly $2 trillion to the national deficit by 2028. Tariffs, they say, might also raise consumer prices, something Harris's team frequently points out.

See Also: This billion-dollar fund has invested in the next big real estate boom, here's how you can join for $10.

One of the lighter moments in the interview came when Ramsey asked Trump about parenting. “How do you raise great kids?” he asked. Trump's answer was simple: “I always told mine, no drugs, no alcohol, no cigarettes.” 

He also opened up about how his older brother's battle with alcoholism influenced his own decision to never drink. His advice for teaching kids about hard work? “They've got to enjoy what they do. If they don't love it, it won't work.”

Read Next:

• How do billionaires pay less in income tax than you? Tax deferring is their number one strategy.
• Commercial real estate has historically outperformed the stock market, and this platform allows individuals to invest in commercial real estate with as little as $5,000 offering a 12% target yield with a bonus 1% return boost today!