WMAL Interview - LARRY KUDLOW - 09.12.17

INTERVIEW - LARRY KUDLOW - CNBC Senior Contributor and host of The Larry Kudlow Show on WMAL Saturdays at 7 pm and author of “JFK and the Reagan Revolution: A Secret History of American Prosperity” • Mnuchin, Cohn head to Congress Tuesday for tax talks (Politico) -- Senate Republicans and top Trump administration aides will huddle on Tuesday to discuss a key precondition to tax reform: Passing a budget. Treasury Secretary Steven Mnuchin and top Trump economic adviser Gary Cohn will meet with Senate Majority Leader Mitch McConnell and members of the Senate Budget Committee to plot how to pass a budget through committee and the narrowly divided Senate, according to two people familiar with the meeting. The gathering demonstrates how quickly Republicans are hoping to pivot to tax reform following a failed attempt to gut Obamacare and President Donald Trump's surprising deal with the Democrats on the debt ceiling and spending issues. • National debt breaks $20 trillion for the first time ever (The Hill) -- The U.S. federal government's gross debt surpassed $20 trillion on Friday, according to a daily Treasury statement. The debt jumped from $19.8 trillion to $20.1 trillion after Congress suspended the debt ceiling for three months, allowing the Treasury to borrow again on the open markets. For months, it had been using off-book extraordinary measures to keep from defaulting. Since President Trump signed a bill including the debt lift Friday, it was able to start unwinding those measures with regular borrowing, and increase the debt.