The Wednesday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

💎 WTF of the Day

Fried Chicken > Big 4

A former Big 4 accountant in Australia straight up bailed on his cushy corporate job to start a fried chicken shop. Yup, from audit rooms to drumsticks. He said working in accounting felt like being stuck in the Matrix. Long hours. No meaning. No flavor (literally and figuratively).

So he dipped. Started slinging spicy fried chicken instead. And guess what? The business is booming. He’s happier, healthier, and making more money.

Moral of the story, If your job feels like a prison, maybe it’s time to cook up something new. 🍗

Source

💎 What’s poppin in accounting

AT Think Local firm slashes staff starting salaries

A Tennessee firm just dropped a blog post bragging, yes, bragging about slashing starting salaries from $70K to $40K. Their big idea? Offer “local” hires less because they don’t need to move.

Meanwhile, the same post whines about how hard it is to hire CPAs and notes that even laid off IRS agents aren’t biting. Shocker. CPA pipeline is drying up, firms everywhere are desperate for talent, and this firm’s solution is to lowball new grads like it’s 2008.

They’re treating accounting like a discount commodity while expecting world class talent to show up. Good luck with that.

Source: Accounting Today

 📊 Weekly Trend Chart

America's Public Debt Is Catching Up

America’s debt just hit 122% of GDP, the highest since WWII. Translation… the country owes more than it produces in an entire year.

The last time we saw numbers like this was in 1946. Back then, we had just fought a world war. Today, we’ve got tax cuts, expensive programs, and interest payments ballooning like never before.

What makes it worse? The cost to maintain the debt is now on track to overtake defense spending. That means more tax dollars going to interest... and less for literally everything else.

It’s not just a political talking point anymore, the math is getting ugly.

#😂 

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