Tuesday, 01/15/13 - Batchelor First Hour

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Hour One

Tuesday  15 Jan 2013 / Hour 1, Block A: Larry Kudlow, in re:

Tuesday  15  Jan 2013 / Hour 1, Block B:  John H. Cochrane, Grumpy Economist & Hoover Institution, in re:  Two Cents on the Trillion-Dollar Coin, and a Debt-Limit Schedule [This is a riveting segment. Regrettably, these notes are inadequate.]

Tuesday  15  Jan 2013 / Hour 1, Block C: . John Tamny, Real Clear Markets, in re: Without defending economy-sapping government spending even for a second, the reality is that every generation produces scaremongers in the pundit class who tell us "this time is different," that "today's deficits are sowing the seeds of crisis."  They contradict themselves on many levels.  If we ignore that deficits are - just an indistinguishable form of finance - that distracts us from the true problem, which is government spending assuming a "crisis" whereby the U.S. can no longer raise debt; the clear answer is that we'll be better off if/when the feds are forced onto a diet.  The crisis is not the day when investors stop financing our spending; rather, it's the spending itself (this includes the military that "small government" conservatives won't touch) whether in deficit, balance or surplus, that is the crisis.  It's not the burden of our grandchildren as the scaremongers naively tell us; instead, it's our burden and crisis for all of the growth lost.  Forbes.com. 

Tuesday  15  Jan 2013 / Hour 1, Block D:  Larry Kudlow, in re: % of income from healthcare has to be on health; 20% may be on admin (and profits). Ergo, insurance co's are raising fees as fast as they can. Expect: rationing, slow payments.   All trying to beat the federal govt, raising premiums and prices. Medicare, Medicaid, children's health entitlements: for the next twenty years the money we need to grow the economy will be poured into expensive govt management and bureaucracies.