Government Waste, Biblical Wisdom, and Local Accountability: Lessons for Pre-Retirees in Uncertain Times

The Tom Dupree Show

Government Waste, Biblical Wisdom, and Local Accountability: Lessons for Pre-Retirees in Uncertain Times

Originally aired June 7, 2025

Understanding True Change: Why Most People Never Repent

Tom draws powerful parallels between biblical prophecy and modern financial reality in this episode of The Tom Dupree Show. Just as the Old Testament prophets called for repentance, today’s economic and political landscape demands that we stop doing things the same old way.

“The only time you’re gonna change is when there ceases to be something in it for you, it becomes too painful to keep doing it the same way.”

This principle applies directly to your retirement planning. Too many pre-retirees keep following the same investment strategies that haven’t worked, simply because changing feels uncomfortable.

The DOGE Reality Check: History Repeating Itself

Reagan’s Grace Commission vs. Musk’s Department of Government Efficiency

Tom reveals a historical parallel that every pre-retiree should understand. Elon Musk’s DOGE initiative isn’t new – it’s essentially a repeat of President Reagan’s Grace Commission from 1982-1984.

Key findings from the Grace Commission:

• Could have saved $424 billion in three years
• Rising to $1.9 trillion by 2000
• One-third of all income taxes consumed by government waste
• Another third escapes collection due to underground economy
• 100% of collected personal income taxes absorbed solely by federal debt interest

“Its time hadn’t come. There was not an outcry from the public. Nobody cared. Eighties were…everybody was having a great time.”

What this means for your retirement: Government spending patterns directly impact your tax burden and inflation rates. Understanding these cycles helps you plan accordingly.

Local Government Waste: The Fayette County School Board Case Study

Lessons in Fiscal Irresponsibility

Tom exposes shocking examples of local government waste that mirror federal problems:

• $32,000 spent on designer ice cream at $8 per pint
• $127,000 in travel expenses in one month
• Continued building construction despite declining enrollment
• Budget increases while student performance decreases

“The slice of our taxes that goes to the Fayette County Public School is way too high. Lexington is getting to be an impossible place to live in terms of taxes.”

Retirement Planning Takeaway: Local tax burdens significantly impact your retirement budget. Research your area’s fiscal responsibility before choosing where to retire.

Investment Strategy During Political Uncertainty

Why Traditional Market-Tied Portfolios May Be Failing You

Tom addresses a critical concern for pre-retirees whose portfolios are tied to major market indices:

“If your retirement investment portfolio is tied to the S&P 500, the NASDAQ, or even the Dow Jones, it’s probably down this year. If you want to hear about how to invest for dividends and interest instead of just gains, call us.”

Key Investment Principles for Uncertain Times:

• Focus on dividend income over capital gains
• Diversify beyond traditional market indices
• Consider the impact of government spending on market volatility
• Plan for higher taxes and inflation

The Trump-Musk Dynamic: What It Means for Markets

Political Instability and Your Portfolio

Tom’s assessment of the Trump-Musk relationship offers insights into market volatility:

“Trump thinks he’s been betrayed, and so they’re airing all their dirty laundry all over social media… Trump, if he would just shut up, just shut the hell up and do the job.”

This kind of political uncertainty creates market volatility that can devastate traditional retirement portfolios.

Why Change Is So Difficult (And Necessary)

The Psychology of Financial Decision-Making

Drawing from the prophet Zechariah, Tom explains why people resist necessary changes:

“People can endure the pain of doing it the wrong way for a long time. People can endure pain of doing it the wrong way until they die.”

Application for Pre-Retirees:

• Don’t wait for a financial crisis to change your strategy
• Evaluate your current approach honestly(another set of eyes on your plan always helps.)
• Consider alternative investment strategies before you’re forced to

Take Action: Don’t Wait for the Pain

Your Next Steps

The lesson from both biblical prophecy and modern politics is clear: change before you’re forced to change. Whether it’s government spending, local taxes, or your investment strategy, waiting until the pain becomes unbearable is the most expensive approach.

Ready to explore dividend and interest-focused investing instead of just market gains? Contact Dupree Financial Group at [phone] or visit dupreefinancial.com to discuss strategies that put your financial interests first.

Listen to more episodes: Visit dupreefinancial.com and click on the radio tab, or search “The Tom Dupree Show” on your favorite podcast platform.

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