Tuesday, May 7, 2013

Fact Checking Dave Ramsey

Recently I've been listening to a lot of Dave Ramsey podcasts. I've been using Pocket Casts ($4 on the Google Play store), which is great for playing podcasts at faster speeds (I use 1.5x). I really like listening to his show, but I've noticed that sometimes he gives statistics that are blatantly false.

Some examples:
  • Dave Ramsey was speaking to someone whose son was applying for medical school. Dave was discouraging any kind of debt, of course, and then mentioned that something like 75% of medical students drop out and do not finish (I don't remember the actual number, but it was around there). This sounded pretty suspicious to me, so I did a little research. I found this study by the Association of American Medical Colleges, where they found that around 81% of medical students graduate within 4 years, 94% finish within 7 years, and 96% within 10 years of their initial matriculation.

  • The other day, Dave was talking with a woman who had just found out her husband was having an affair and was addicted to porn. Dave spoke about the evils of pornography, then said that the porn industry had more revenue than all professional sports in America combined. A simple internet search showed that this is also untrue. I'm not saying that the porn industry isn't huge or not a problem, but we don't have to lie in an attempt to make our points stronger when the truth is plenty of evidence in our favor.
Sorry I don't have dates for any of these. If I come up with more, I'll try to post them here with more specifics.

Update: On 5/29, Dave repeated the statement that most medical students don't graduate. It was part of a longer monologue that included similar statements about undergrads and law students (both of which I am much more ready to believe). He actually gave a statistic for undergrads, that only 60% finish. That sounds about right. Conspicuously, he gave no such statistics for medical students or law students, although I suspect he's more correct about law students.