‘The Economy Is Quite Booming’—Dave Ramsey Shuts Down Caller Blaming The Economy For Her Struggles. ‘The Economics At Your House Suck’
When a recent caller tried to blame the economy for his family’s million-dollar debt, Dave Ramsey He responded by saying it wasn’t the economy’s fault.
A 28-year-old caller named Heather recently said, “The Ramsey Show“To share that she and her husband were drowning in more than $1.3 million in debt. The couple’s financial problems stemmed from a combination of business loans, credit card balances, unpaid taxes, and a mortgage. But when Heather tried to place some of the blame on the economy, the personal finance expert wouldn’t let it slide.”
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“We’re stuck with jobs that everyone else is trying to avoid,” Heather said, referring to summer camps and a rental business that includes staging, inflatables and audiovisual equipment.
Ramsey jumped. “Not quite true,” he said flatly. “The economy is growing pretty fast in some areas. But the economy at home is terrible.” He added, “The situation you’re all in, you’re so overwhelmed, I can see how you’d start thinking that way. When life sounds like a country song, it just sounds like a country song. A lot of people are still renting kids’ stuff everywhere.”
Heather explained that she struggled to find stable employment after her husband was fired four years ago. In 2022, they launched a summer camp business that now generates about $200,000 a year. Encouraged by this success, they purchased the assets of another business for $1.2 million using a Small Business Administration loan.
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But things went wrong. “The further back we went, the more we found the deception,” he said. They later realized they had overpaid by nearly $400,000.
Ramsey criticized the SBA for approving the loan, saying, “Anyone who made this loan should be lined up and shot.” big credit. “They destroyed you in the process.”
Total monthly operating costs currently sit around $50,000, which Ramsey was quick to point out is unsustainable. “And you don’t do that?” he asked. “We have been for a few months,” Heather replied. “But both of our businesses are very seasonal.”
Ramsey told the couple to emotionally prepare for the worst-case scenario: lose everything and start over. “You hold on to each other, you hold on to Jesus, and you hold on to your marriage,” he said. “So what? A lot of people are broke.”
