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Last week we got the latest rash of economic data that shows that while the U.S. economy is not falling off a cliff, it’s not exactly lighting the world on fire. In recent weeks, we’ve gotten figures that point to more people falling out of the work force, heard more about cyber attacks and watched the tragedy in Boston while the issue of gun control percolates in Washington.
We’ve also started to realize what the true cost of Obamacare will be when it’s fully implemented in 2014. Even The New York Times ran a story recently with the headline “Democratic Senators Tell White House of Concerns About Health Care Law Rollout”
It also seems that many across the pond in the Eurozone are realizing that austerity is not the solution. After years of insisting that the primary cure for Europe’s malaise is to slash spending, the champions of austerity, most notably Chancellor Angela Merkel of Germany, find themselves under intensified pressure to back off unpopular remedies and find some way to restore faltering growth to the world’s largest economic bloc.
Joining me this week to make some sense of all of this is Dr. John Lott, economist and author of the new book “At The Brink.” In his new tome, John talks about how the Obama stimulus was the most expensive failure in history, why debt will continue to grow under Obama and why you can expect soaring health care costs.
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