WEBVTT 1 00:00:01.199 --> 00:00:06.559 You're listening to Bill Handle on demand from KFI AM six forty. This is 2 00:00:06.639 --> 00:00:13.000 KFI AM six forty Bill Handle. Here a SCHITZI hot Monday morning, June 3 00:00:13.000 --> 00:00:17.679 twenty four, and we are looking at several days of this boy across the 4 00:00:17.679 --> 00:00:24.399 country. This heat dome, all man. It is usually we have a 5 00:00:24.480 --> 00:00:28.600 dry heat, not so much, not so much. Today It's a Schmitz 6 00:00:29.160 --> 00:00:32.840 all right. Before I get to the funding lag story, I want to 7 00:00:32.880 --> 00:00:35.960 share with you with homelessness. Of course I have to do a homeless story. 8 00:00:36.399 --> 00:00:40.119 I want to remind you that today the Dodgers are in Chicago to take 9 00:00:40.159 --> 00:00:44.560 on the White Sox. First pitch U is five ten this afternoon. Listen 10 00:00:44.600 --> 00:00:48.880 to every play of every Dodger's game on AM five seventy LA. Stream all 11 00:00:48.920 --> 00:00:53.679 the games a HD on the iHeartRadio app. The keywords AM five seventy LA 12 00:00:53.799 --> 00:01:00.759 Sports powered by LA Care for all of LA. Now, in terms of 13 00:01:00.000 --> 00:01:04.519 I can't do a week, I can't do two days worth of topics without 14 00:01:04.519 --> 00:01:10.079 getting into homelessness, because that is in many ways the number one problem here 15 00:01:10.079 --> 00:01:14.840 in California. Let me think of this. Gavin newsom Ran on homelessness to 16 00:01:14.840 --> 00:01:21.519 become governor Karen Bass ran on homelessness. Paul Caruso, her opponent, ran 17 00:01:21.640 --> 00:01:26.640 on homelessness, and we have this horrific problem. Neil just did a story 18 00:01:26.680 --> 00:01:33.239 on the homeless in various parts of Los Angeles. I went to an event 19 00:01:33.280 --> 00:01:38.439 on Saturday night the Lawyer's Philharmonic. Had to go through downtown. The number 20 00:01:38.439 --> 00:01:42.239 of tents that were out there. In one case under a bridge, there 21 00:01:42.280 --> 00:01:45.159 was support, a potty, and there was a big tent. So that 22 00:01:45.280 --> 00:01:49.239 was a two bedroom, one bath, And I'm sure that people really are 23 00:01:49.519 --> 00:01:53.079 just striving for one of those. They're just more comfortable. Okay, with 24 00:01:53.200 --> 00:01:59.680 that being said, here's the way it works with these homeless programs. It's 25 00:01:59.719 --> 00:02:02.439 not just the government here have some money or will spend some money. These 26 00:02:02.439 --> 00:02:08.400 government they don't really have governmental programs. It's governmental grants. It's outsource to 27 00:02:08.840 --> 00:02:15.439 nonprofits. And there's a story in the LA Time about one nonprofit reclaim Possibilities 28 00:02:15.479 --> 00:02:21.319 twenty two beds in LA and this is for men released from jail and prison 29 00:02:21.360 --> 00:02:25.159 who would otherwise go into homelessness. And the owner again had to tell us 30 00:02:25.520 --> 00:02:29.319 ten employees, you're not going to get paid or you won't get paid for 31 00:02:29.360 --> 00:02:36.680 a while because reimbursement checks haven't arrived. Many nonprofit providers with government contracts, 32 00:02:36.719 --> 00:02:42.199 which is virtually all of them other than the ones that are non governmental, 33 00:02:42.240 --> 00:02:46.159 and said, there are different foundations, but this is the majority. There's 34 00:02:46.199 --> 00:02:52.439 this tangled reimbursement scheme. In other words, the government pays but doesn't pay 35 00:02:52.520 --> 00:02:55.719 upfront. Obviously, it has to pay based on expenses. And yeah, 36 00:02:55.759 --> 00:03:02.560 here's how crazy it goes invoices go to La County Probation Department in this case, 37 00:03:04.599 --> 00:03:07.560 and then the California Department of Corrections. The rehabilitation goes back to the 38 00:03:07.599 --> 00:03:14.199 agencies, then goes to reclaim possibility. It goes back and forth. It 39 00:03:14.280 --> 00:03:16.719 is just a complicated, god awful mess and there's no good way to deal 40 00:03:16.800 --> 00:03:20.960 with it. And well, there actually is. But here's what happens with 41 00:03:21.000 --> 00:03:24.080 a lot of these nonprofits. The money, a lot of it goes to 42 00:03:24.159 --> 00:03:30.680 interest because they have to get these predatory loans, I mean nonprofit agencies have 43 00:03:30.800 --> 00:03:35.159 to go and get these payday loans. Effectively. The answer, and we 44 00:03:35.199 --> 00:03:38.319 haven't gone there yet in La County Board of Supervisors is looking at this is 45 00:03:38.439 --> 00:03:44.039 to use the factoring model. What is factoring? Factoring is used in the 46 00:03:44.080 --> 00:03:51.479 schmata industry. It is used in almost every industry that has inventory. In 47 00:03:51.520 --> 00:03:54.879 this case, the inventory is the county that owes money. So factoring. 48 00:03:55.000 --> 00:04:00.199 Let's say you have a company, you have a clothing manufacturing company and will 49 00:04:00.199 --> 00:04:02.319 owe you money and you don't have cash right now. Well, I'm a 50 00:04:02.400 --> 00:04:08.120 lending institution and I'm lending you the money based on the assets that you have. 51 00:04:08.199 --> 00:04:11.599 The assets being money that's owed to you, and I give you the 52 00:04:11.599 --> 00:04:15.120 money discount it because I'm taking somewhat of the risk and I have to make 53 00:04:15.120 --> 00:04:20.600 a profit, and I charge interest on the money. That happens almost instantly. 54 00:04:21.800 --> 00:04:25.040 It's a model that makes no sense as a matter of fact. In 55 00:04:25.079 --> 00:04:28.519 New York, this is what they're doing and this is a model program. 56 00:04:29.319 --> 00:04:32.560 There is an organization in New York CNY. I'm going to get into that 57 00:04:33.000 --> 00:04:36.879 what that stands for. But when you're starting with FEC, I mean that's 58 00:04:36.879 --> 00:04:44.120 a problem. Is funded by philanthropy and the city one point six billion dollars 59 00:04:44.120 --> 00:04:53.000 and no interest bridge loans. And this enables these nonprofits to keep the money 60 00:04:54.160 --> 00:05:00.160 to sustain their services, which if you have a nonprofit in this case homelessness 61 00:05:00.199 --> 00:05:05.000 nonprofits and tell me how unimportant that is, right, I mean, all 62 00:05:05.040 --> 00:05:10.399 they're all important, But as we deal with this problem, we want to 63 00:05:10.560 --> 00:05:13.920 just maximize the number of dollars because it's all going to be incremental anyway. 64 00:05:14.480 --> 00:05:16.199 I mean, it's going to be little bits and pieces. The only one 65 00:05:16.199 --> 00:05:19.160 of the homeless, and this is one of them. And the way the 66 00:05:19.199 --> 00:05:23.920 system is it makes it almost impossible for them to either get all the money 67 00:05:24.319 --> 00:05:29.720 pay their employees without these insane loans they have to take out. Let's put 68 00:05:29.839 --> 00:05:33.759 in the factoring system the money that the model that New York uses just a 69 00:05:33.800 --> 00:05:38.240 straight business model. You've got inventory. And by the way, when you 70 00:05:38.319 --> 00:05:42.199 have inventory, when the government owes you money, you're going to get paid. 71 00:05:42.759 --> 00:05:46.120 There isn't a lot of bad paper there. You get paid. So 72 00:05:46.279 --> 00:05:51.519 that's solid for a lender. I'll buy those loans or I'll buy that money 73 00:05:51.519 --> 00:05:56.680 that's owed at a discount, and here's your money right now. And so 74 00:05:57.720 --> 00:06:00.560 that's the way. It's a good idea. It's a good idea. And 75 00:06:00.680 --> 00:06:05.120 are you ready for this? They're actually going in that direction. Hold on 76 00:06:05.160 --> 00:06:12.160 a minute. A good idea that makes sense fiscally, and the government is 77 00:06:12.160 --> 00:06:15.519 saying, yeah, we're gonna do it. Calendar that one, okay, 78 00:06:16.480 --> 00:06:20.759 because you're not going to see that very often. Okay, Now I get 79 00:06:20.800 --> 00:06:25.800 some pretty good news until you dive into it, and then I guess it's 80 00:06:25.920 --> 00:06:30.040 very good news for some folks. I'll explain why Gen X four to one 81 00:06:30.120 --> 00:06:36.480 K retirement lags. But guess what. Four oh one K balances of Gen 82 00:06:36.680 --> 00:06:44.639 X workers now beats baby boomers by two hundred dollars at five hundred and forty 83 00:06:44.639 --> 00:06:48.759 three thousand dollars. And this is a fidelity looking at twenty two million accounts 84 00:06:48.800 --> 00:06:53.480 in the first three months of this year. Okay, xers are born between 85 00:06:53.519 --> 00:06:59.040 nineteen sixty five nineteen eighty. This is the next generation torect tire behind the 86 00:06:59.199 --> 00:07:04.680 boomers born between forty six and sixty four. I am a boomer and I 87 00:07:04.720 --> 00:07:09.439 am in retirement age. Although you know, I don't know what you do 88 00:07:09.519 --> 00:07:14.279 when you retire. I don't play golf, I don't have friends, I 89 00:07:14.319 --> 00:07:18.120 don't do much. You can only couch potato as a verb for so long. 90 00:07:18.959 --> 00:07:24.759 In any case, Gen X is often referred to as the forgotten generation. 91 00:07:24.959 --> 00:07:30.040 Why because you've got boomers and millennials on either side. And here's the 92 00:07:30.120 --> 00:07:33.240 tough part, and it's kind of a good story about how so many of 93 00:07:33.279 --> 00:07:41.079 them actually have this much money. They're the first generation to start working with 94 00:07:41.199 --> 00:07:47.120 four to oh one k's replacing pension plans. Now, the law the irs 95 00:07:47.240 --> 00:07:50.959 allows you to have a pension plan and a four to oh one K, 96 00:07:51.920 --> 00:07:56.920 And that's what a lot of us did and do. When you're in an 97 00:07:56.920 --> 00:08:00.319 industry that has pension plans, and you know, it used to be that 98 00:08:00.399 --> 00:08:05.680 virtually every major company had a pension plan. We don't hear iHeart doesn't allow 99 00:08:05.720 --> 00:08:09.399 a pension plan or doesn't provide one, and most major companies today don't. 100 00:08:11.240 --> 00:08:16.040 And it's now you're retiring and you've got the gen xers who are looking at 101 00:08:16.079 --> 00:08:20.240 two things. Retirement funds they have to put in four o one ks and 102 00:08:20.279 --> 00:08:24.560 so security and whatever savings they have. That is not easy to put together, 103 00:08:24.639 --> 00:08:28.399 it really Isn't you take away one of those pillars. What is the 104 00:08:28.480 --> 00:08:33.080 difference between a pension and a four to oh one K four one K plan 105 00:08:33.480 --> 00:08:41.879 plan? Is you're investing money and in the pension plan you receive a you 106 00:08:43.000 --> 00:08:48.320 receive a plan that usually the employer pays there. Now there can be a 107 00:08:48.360 --> 00:08:52.200 contribution but a four oh one K plan unless there is a matching three percent 108 00:08:52.360 --> 00:08:56.840 contribution, then it's your Basically, your money goes in a four to one 109 00:08:56.879 --> 00:09:01.960 K plan and the employer money goes into a pension plan with a little some 110 00:09:03.159 --> 00:09:07.399 differences. And we, for example, because we are members of AFTRA, 111 00:09:07.559 --> 00:09:11.960 the American Federation of Television Radio Artists, which I've never understood that how we 112 00:09:13.000 --> 00:09:16.440 are artists, we have a pension plan. And if you are smart, 113 00:09:16.480 --> 00:09:18.519 you have a four to oh one K, which I know you have, 114 00:09:20.120 --> 00:09:24.279 and if you're very smart, you put in the maximum allowed by law. 115 00:09:24.759 --> 00:09:28.919 And by the way, that money is tax deductible. So if you make 116 00:09:28.120 --> 00:09:33.399 one hundred thousand dollars and you're allowed to put in thirty thousand dollars, now 117 00:09:35.039 --> 00:09:39.519 then you're taxed on one hundred and seventy thousand dollars, and the thirty thousand 118 00:09:39.559 --> 00:09:45.240 dollars is put away and you're not taxed on it. It goes into a 119 00:09:45.279 --> 00:09:50.840 four oh one K and you can't touch it until you're sixty or late fifties. 120 00:09:50.919 --> 00:09:52.200 And there are a bunch of other rules, but the bottom line is 121 00:09:52.279 --> 00:09:58.840 that's tax free money, or that's it's non taxable, and that builds up 122 00:09:58.840 --> 00:10:01.120 over the years. Oh does that build up if you're in the thirty percent, 123 00:10:01.360 --> 00:10:05.240 Well, actually you're in forty percent tax bracket. At one hundred thousand 124 00:10:05.240 --> 00:10:07.480 dollars a year, you're able to put away thirty That's a lot of money 125 00:10:07.519 --> 00:10:11.759 that you're not paying taxes on it, and that makes a great deal of 126 00:10:11.759 --> 00:10:13.759 sense. The government lets you do that as well, it should, and 127 00:10:13.759 --> 00:10:18.960 then after fifty it even turbos that up to thirty thousand, because until then 128 00:10:18.000 --> 00:10:20.440 you're a twenty three thousand. I don't want to get into the minutia because 129 00:10:20.440 --> 00:10:26.399 now we're getting into the weeds. But the bottom line is that gen X 130 00:10:26.440 --> 00:10:30.000 workers have take have to take that into account, and it's just harder. 131 00:10:30.879 --> 00:10:35.879 Baby boomers have the most disposable income of any generation ever, but we've had 132 00:10:35.960 --> 00:10:43.320 pension plans which don't exist anymore now. The other thing about four oh one 133 00:10:43.440 --> 00:10:48.279 case, A lot of companies will do a match in other words, for 134 00:10:48.320 --> 00:10:50.559 the first three get three percent. So if you're making one hundred thousand dollars 135 00:10:50.559 --> 00:10:56.720 a year, you put away three thousand dollars into a pension plan for example, 136 00:10:56.840 --> 00:11:01.639 or four oh one k, the the government or the company will match 137 00:11:01.720 --> 00:11:07.200 up to that much money. So three percent is typical. So you make 138 00:11:07.240 --> 00:11:11.440 one hundred thousand dollars, three percent is matched by the cover by the company. 139 00:11:13.240 --> 00:11:16.679 And I always say, you are out of your mind not to put 140 00:11:16.720 --> 00:11:18.279 that in, because you know what the return is on that three percent. 141 00:11:18.320 --> 00:11:22.159 You put in on that three thousand dollars and you're making one hundred grand, 142 00:11:22.720 --> 00:11:31.919 it's one hundred percent return. It doubles because three thousand dollars becomes six thousand 143 00:11:31.960 --> 00:11:37.360 dollars the moment you put it in. So there are governmental programs out there 144 00:11:37.519 --> 00:11:43.279 not to give you money, but allow you to do things that eliminate taxes, 145 00:11:43.519 --> 00:11:48.399 let you build things up that lets you get where you keep more of 146 00:11:48.440 --> 00:11:50.039 your money, and then you pay taxes on it way later. It's all 147 00:11:50.120 --> 00:11:58.000 tax deferred money. And so gen xers are actually paying attention and now starting 148 00:11:58.120 --> 00:12:05.679 seriously to do this in their fifth ffties. I started seriously putting money away 149 00:12:05.879 --> 00:12:11.279 when I think I was in my late forties. Had I started putting money 150 00:12:11.320 --> 00:12:16.679 away when I was in my twenties or even thirties the way that it is 151 00:12:16.759 --> 00:12:22.240 suggested. Joel Larsgard and I have talked about this ad nauseum on Thursdays. 152 00:12:22.279 --> 00:12:26.039 Had I started in my early thirties today, you would be listening to my 153 00:12:26.200 --> 00:12:33.120 assistant do this show, and I would be sitting on my ass listening and 154 00:12:33.159 --> 00:12:39.039 saying, hey, good for you, as my money is turboing. And 155 00:12:39.440 --> 00:12:45.039 instead I started in either late thirties I'm trying to figure out where it was, 156 00:12:45.159 --> 00:12:48.320 or early forties, so I have a limited amount now I have been 157 00:12:48.360 --> 00:12:52.240 maximizing it. Also, I live under my means. That's a whole different 158 00:12:52.279 --> 00:12:56.240 story, so you don't spend as much as you have. They are people 159 00:12:56.279 --> 00:13:01.840 that go the other way. But this is just a stat that is actually 160 00:13:01.879 --> 00:13:07.639 good news for so many Gen xers. You've worked harder at it. If 161 00:13:07.639 --> 00:13:13.879 you have enough money laid aside for retirement, you had to have worked far 162 00:13:13.960 --> 00:13:16.960 higher than I had to have worked, and most of us boomers, and 163 00:13:18.000 --> 00:13:22.759 the same rules always apply. Maximize any retirement savings and tax deferred opportunities, 164 00:13:22.919 --> 00:13:28.559 anything that you can get. I think it's up to fifteen percent you're allowed 165 00:13:28.600 --> 00:13:35.000 to put away in certain cases. So if you do it, you do 166 00:13:35.080 --> 00:13:41.600 it, you do it now. Kno, this is not for people who 167 00:13:41.639 --> 00:13:46.879 actually work here at iHeart because I don't care how much you're living under your 168 00:13:46.919 --> 00:13:54.519 means. You're living over your means because well, this is iHeart. Do 169 00:13:54.600 --> 00:14:00.000 I make enough fun of this company? Yes, yes, you would. 170 00:14:00.159 --> 00:14:03.759 You would think that someone in management would come up to me and go handle 171 00:14:05.120 --> 00:14:07.519 you know, why don't you just leave it alone for a bit? Okay? 172 00:14:07.840 --> 00:14:11.919 And then I come back with You're no better worse than any other major 173 00:14:11.960 --> 00:14:15.519 corporation. This is the way America does business, and that's what it does. 174 00:14:15.600 --> 00:14:18.279 It's a whole new world that used to be major corporations put into their 175 00:14:18.360 --> 00:14:24.399 financials pension plans and it costs the money too. Pension plans are not inexpensive 176 00:14:24.440 --> 00:14:28.879 for corporation. But it's a different world. It's the beans who count the 177 00:14:28.919 --> 00:14:33.799 beans. That's the way we live, all right. I just want to 178 00:14:33.799 --> 00:14:37.240 make you feel good. But congratulations, by the way, to your gen 179 00:14:37.399 --> 00:14:43.799 xers who have done what is much more difficult to do. All right, 180 00:14:43.960 --> 00:14:48.440 Now, I want to talk about something that is near and dear to my 181 00:14:48.559 --> 00:14:54.519 heart because I've got a personal story about this. And let's go back to 182 00:14:54.519 --> 00:15:00.399 the nineteen nineties. All right. Globalization was happening, and it was going 183 00:15:00.440 --> 00:15:03.960 to be rough on folks. Opening the economy up to imports, cheap imports 184 00:15:03.960 --> 00:15:09.440 from Canada, Mexico and China. Well, that's going to hurt workers who 185 00:15:09.799 --> 00:15:16.320 made and manufactured here products because it was just cheaper to buy from even Canada. 186 00:15:18.279 --> 00:15:24.000 So on top of that, welfare reform eliminated a lot of money to 187 00:15:24.399 --> 00:15:28.159 families, and so it was a double hit. On the one hand, 188 00:15:28.200 --> 00:15:31.120 you lost your job and on the other hand, those of you who were 189 00:15:31.120 --> 00:15:37.159 on welfare job benefits got less money. So Congress comes up with a solution, 190 00:15:37.120 --> 00:15:43.519 the federally funded job training to help laid off workers and destitute parents figure 191 00:15:43.559 --> 00:15:46.480 out a new way of income. And it made sense think about this. 192 00:15:48.080 --> 00:15:54.759 Manufacturing workers would reskill for the information age economy, moving from the factory floor 193 00:15:54.879 --> 00:16:00.000 to let's say, computer science. Impoverished moms would get a hand up instead 194 00:16:00.159 --> 00:16:03.559 of a handout. You've heard that a whole bunch of times. In reality, 195 00:16:04.240 --> 00:16:11.559 it was failed miserably. A twenty seventeen study by Mathematica Research compared people 196 00:16:11.639 --> 00:16:17.519 who had gotten this federally funded job training under the nineteen ninety eight law. 197 00:16:17.559 --> 00:16:25.320 It was known as the WIOA, the Workforce Innovation and Opportunity Act. And 198 00:16:25.399 --> 00:16:30.720 so they took a control group and they took people who had gotten work training 199 00:16:30.799 --> 00:16:37.360 under the WIOA. And guess what, thirty months later later, the training 200 00:16:37.440 --> 00:16:45.559 group had zero effect, made not a dime more. Whoa wait a minute, 201 00:16:45.639 --> 00:16:49.480 Well, when this thing started, you know, they didn't talk much 202 00:16:49.519 --> 00:16:53.720 about it, but you have someone on the factory floor, robotics comes in 203 00:16:55.279 --> 00:16:59.600 wipes out. I don't know what percentage of factory jobs used to take one 204 00:16:59.639 --> 00:17:03.440 hundreds and hundreds of people to make to produce a car, Now it's in 205 00:17:03.440 --> 00:17:07.079 the dozens because everything else is robotics. So who is going to hire a 206 00:17:07.119 --> 00:17:11.880 fifty five or fifty eight year old worker who has been laid off and to 207 00:17:11.920 --> 00:17:18.279 be retrained? And so someone gets retrained, and now you start a job 208 00:17:18.359 --> 00:17:26.720 at fifty five or fifty eight and you've had no work experience in the field 209 00:17:26.759 --> 00:17:29.880 you've been trained for. They never did able. They were never able to 210 00:17:29.960 --> 00:17:34.359 figure that out. And so in twenty twenty two, the US Department of 211 00:17:34.440 --> 00:17:41.400 Labor published a comprehensive study of this program and also similarly structured federal job training 212 00:17:41.440 --> 00:17:45.640 initiatives, a bunch of these programs, and here's what they found. The 213 00:17:45.680 --> 00:17:52.440 programs did manage to put a lot of people through training, absolutely and many 214 00:17:52.519 --> 00:17:59.359 of those people were then hired in into in demand jobs. Then it gets 215 00:17:59.359 --> 00:18:03.640 really interesting, what is an in demand job? For the first three years 216 00:18:03.680 --> 00:18:11.119 after training, their wages did increase by six percent. As against those of 217 00:18:11.200 --> 00:18:15.640 workers who didn't receive training, it went up from an average of sixteen thousand, 218 00:18:15.759 --> 00:18:18.960 three hundred to seventeen thousand, three hundred. It was one thousand dollars. 219 00:18:18.960 --> 00:18:26.599 And by the way, even that discrepancy didn't last very long. And 220 00:18:26.680 --> 00:18:33.720 so why well figure this one out? Ever growing skill requirements for jobs in 221 00:18:33.759 --> 00:18:38.559 the global economy, the skill level has to be higher and higher, and 222 00:18:40.000 --> 00:18:42.559 the only way to really stay on is to be indispensable, otherwise you get 223 00:18:42.599 --> 00:18:51.839 tossed. And here is a fundamental issue. The programs failed because they're designed 224 00:18:52.160 --> 00:18:56.480 not to help the employees, is to help the employers, which in the 225 00:18:56.519 --> 00:19:03.119 big picture actually makes sense. You want to be trained to do as good 226 00:19:03.119 --> 00:19:10.160 a job as you can, and jobs that are needed, and since we 227 00:19:10.240 --> 00:19:17.359 have a new technological global economy that doesn't need you to put on lugnuts on 228 00:19:17.440 --> 00:19:26.240 the assembly line, move into those highly sought after and needed jobs in the 229 00:19:26.279 --> 00:19:36.240 global economy. Those are in demand jobs, and those jobs mean that programs 230 00:19:36.279 --> 00:19:41.279 that fund those jobs and train you are eligible for federal funding. And of 231 00:19:41.279 --> 00:19:49.400 course that's dominated by business interests. And here's the reality. Businesses want more 232 00:19:49.839 --> 00:19:56.680 make more money with lots of low page workers, low paged workers, or 233 00:19:56.759 --> 00:20:02.359 low paid workers, age workers. I got that together. I conflated a 234 00:20:02.400 --> 00:20:07.440 little bit. Lots of low wage workers trained by someone else, even in 235 00:20:07.480 --> 00:20:14.880 a very very rudimentary setting, for example, coding, and I mean just 236 00:20:14.960 --> 00:20:18.960 putting in data. I mean you have to have a certain a certain amount 237 00:20:18.000 --> 00:20:22.680 of training for that. Well, it's not paid a whole lot of money. 238 00:20:22.920 --> 00:20:25.880 And by the way, the training is done by the FEDS, not 239 00:20:26.000 --> 00:20:30.880 by us. And that's the demand. And this started in the nineteen nineties 240 00:20:30.960 --> 00:20:34.799 because the global economy changed all of a sudden. The imports, all the 241 00:20:34.839 --> 00:20:40.839 tariffs were offs, and people were buying Walmart was buying only from China because 242 00:20:40.839 --> 00:20:44.400 it just was so much cheaper in Mexico, and cars were being made in 243 00:20:44.480 --> 00:20:48.119 Mexico and Canadian the dollar or the American dollar was strong. It just made 244 00:20:48.119 --> 00:20:51.160 a lot more sense. Well, it costs people a lot of jobs, 245 00:20:52.000 --> 00:20:55.920 and so one of the things that the FEDS did was create these federally funded 246 00:20:55.960 --> 00:21:03.200 programs work training programs to take people who are were fired from these jobs that 247 00:21:03.480 --> 00:21:08.640 were well disappeared and or were replaced by robots and train them for in demand 248 00:21:08.720 --> 00:21:15.160 jobs. Usually you think about high tech jobs, HVAC, solar panel installation, 249 00:21:15.279 --> 00:21:21.680 that sort of thing. Well, the reality is that that's not what 250 00:21:21.799 --> 00:21:26.759 happens. I don't know of a solar company that took a quote federally trained 251 00:21:26.880 --> 00:21:33.279 worker at the age of fifty five. It just doesn't happen. So what 252 00:21:33.440 --> 00:21:40.000 happens, Well, a lot of them went into this training, and what 253 00:21:40.160 --> 00:21:45.319 are the jobs they actually trained for? The most common job and we're talking 254 00:21:45.359 --> 00:21:49.000 about You take number one, which this is, and you take the next 255 00:21:49.119 --> 00:21:55.319 nine and combine them, and it doesn't equal. Number one is truck driving. 256 00:21:56.839 --> 00:22:02.759 Learn to drive the big rigs. And why you think with a shortage 257 00:22:02.799 --> 00:22:04.880 of drivers you'd have people all over the place. You know, there's a 258 00:22:06.000 --> 00:22:11.599 ninety percent turnover in truck driving every year, ninety percent. It is brutal 259 00:22:11.720 --> 00:22:15.839 work. Imagine you're on the freeway and it's bumper to bumper traffic. Imagine 260 00:22:15.880 --> 00:22:19.920 doing that twelve hours a day, fourteen hours a day. I mean, 261 00:22:19.960 --> 00:22:26.839 that is brutal. That's numbing work. And the entire issue of do you 262 00:22:26.920 --> 00:22:32.920 train people for dead end jobs or do you just pay them welfare. It's 263 00:22:32.960 --> 00:22:37.400 just cheaper. Put them on the dole, give them enough money to live 264 00:22:37.400 --> 00:22:41.079 on, and if you want to work, you go find it, you 265 00:22:41.079 --> 00:22:45.960 go train yourself. Now, I told you about the fact that I was 266 00:22:45.000 --> 00:22:51.519 a host of the worst television show in the history of mankind, and it 267 00:22:51.599 --> 00:22:55.160 was called the worst television show in the history of mankind with your host Bill 268 00:22:55.200 --> 00:22:59.160 Handle and it was different topics. One of the topics we had, one 269 00:22:59.160 --> 00:23:03.279 of the better ones show is I had a group of women and that was 270 00:23:03.400 --> 00:23:07.680 exactly that topic. They had I don't know, nineteen kids, each of 271 00:23:07.720 --> 00:23:11.240 them sitting up on the stage. And the argument was and they were all 272 00:23:11.279 --> 00:23:17.640 on welfare, and they all wanted to be on welfare, and they were 273 00:23:17.640 --> 00:23:19.799 taking care of their kids, which I think is harder work than actually going 274 00:23:19.839 --> 00:23:22.920 on a job. And their argument was, what are you going to do? 275 00:23:23.000 --> 00:23:26.880 Are you going to pay us to train and give us work, and 276 00:23:26.920 --> 00:23:30.720 who's going to take care of our kids? And the cost of doing it. 277 00:23:33.000 --> 00:23:36.359 Well, this is why the show didn't work out so well, because 278 00:23:36.400 --> 00:23:41.279 I completely lost it. I just completely lost it. I zoned out and 279 00:23:41.319 --> 00:23:48.240 started screaming, you welfare queens at the top of my lungs. I work 280 00:23:48.359 --> 00:23:53.400 fourteen hours a day so you can sit on your asses and have kids and 281 00:23:53.559 --> 00:24:00.839 kids and more kids, and you expect me to pay you welfare. And 282 00:24:00.880 --> 00:24:04.799 they all smiled at me and said, yeah, pretty much. And I 283 00:24:04.880 --> 00:24:08.119 just, I mean laid into them what you're not supposed to do. By 284 00:24:08.119 --> 00:24:12.039 the way, just to let you know that, on a new TV show 285 00:24:12.079 --> 00:24:17.759 talk show average first year thirty three hundred and fifty four hundred letters a week. 286 00:24:18.079 --> 00:24:22.960 That episode we got over four thousand letters, every one of them laying 287 00:24:22.000 --> 00:24:26.759 into me. How dare you treat these girls like that? How dare you 288 00:24:26.799 --> 00:24:30.839 treat them? It goes to show you who watches TV during the day. 289 00:24:30.720 --> 00:24:37.279 But the point is is that these jobs that people train for, these federally 290 00:24:37.319 --> 00:24:42.599 funded jobs are for the most part, it's kind of bs. Have you 291 00:24:42.640 --> 00:24:45.480 seen though? And there's some of these jobs, for example, you train 292 00:24:45.720 --> 00:24:51.680 for and you get loans for this the front end office of medical office front 293 00:24:51.759 --> 00:24:55.640 end turt learn to run the front end of a medical office. You know 294 00:24:55.680 --> 00:24:59.200 what the front end of a medical office is. You pick up the phone 295 00:24:59.240 --> 00:25:03.880 and you go doctor Smith's office sure, I'll make an appointment for you to 296 00:25:03.920 --> 00:25:10.480 see doctor Smith. There's your job, but first you need a federally funded 297 00:25:10.799 --> 00:25:15.240 job training program to pick up the phone and go hi doctor Smith's office. 298 00:25:15.480 --> 00:25:19.160 Now, maybe it's a little hyperbole, but not a lot, not a 299 00:25:19.200 --> 00:25:25.480 whole lot. You don't see daytime TV saying hey, learn to be a 300 00:25:25.559 --> 00:25:30.960 dentist, get off your ass and get a federally funded work training program for 301 00:25:30.039 --> 00:25:36.400 dental school. You don't see that usually. So the program, uh, 302 00:25:36.640 --> 00:25:41.119 it really didn't work. And then that the dilemma is still there because how 303 00:25:41.119 --> 00:25:45.960 many jobs you think AI is going to eliminate? And what do you do 304 00:25:47.000 --> 00:25:49.440 with someone and I've been an employee an employer before, what do you do 305 00:25:49.519 --> 00:25:53.599 with someone who is in their fifties and has no experience in the work that 306 00:25:53.640 --> 00:26:00.839 they've been training to do, assuming that it's a good training program. I 307 00:26:00.839 --> 00:26:03.400 don't think there's an easy answer to this one, not at all all, 308 00:26:03.440 --> 00:26:07.680 right, kf I am six forty live everywhere on the iHeartRadio app. You've 309 00:26:07.680 --> 00:26:11.440 been listening to the Bill Handle Show. Catch my show Monday through Friday six 310 00:26:11.480 --> 00:26:17.200 am to nine am, and anytime on demand on the iHeartRadio app.