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Thompson Campaign Press Release - In Case You Missed It...Thompson would be "bullish" for stocks as President

November 16, 2007

Larry Kudlow : Allright, were back with Michael Metz and Don [Luskin]. ...Mike Metz, you heard Fred Thompson talk about social security. He is the only candidate on the campaign trail with that kind of detail. He wants to slow down benefits and he wants to allow people some 401-k savings accounts, he's not afraid to take the heartburn. What do you make of this?

Michael Metz: I was very impressed. I came skeptical, I think he did a good job. I think it is a problem that has to be addressed and I think he's showing courage in proposing this.

Kudlow: Do you think Michael -- this is interesting. Courage is a good word to use. Character, that's my own take. We can all find holes to punch through an entitlement reform package. Very complicated thing, as I'm sure you know. But it just seems to me this is a guy who is rising above the fray on thi s. I'm still waiting for others to chime in. but he's really got a head start on this.

Metz: Yes, he does. Actually, the problem can be solved fairly easily. That is you extend the age at which you begin to get benefits. The other adjustments he suggested, also raise the capital on the amount of income that's taxable for social security. I think it could be solved if somebody starts to move.

Kudlow: Don Luskin, I do favor raising the retirement age, but raising the cap on the social security payments, that's something that Thompson really came clearly-- he's against that. The Democrats are for that. I know where you are going to come out. But who do you think's going to win this debate?

Don Luskin: Well, you know, call it courage, call it conviction, call it suicidal tendencies. I don't know. But you've got to admire the guy for grasping the third rail firmly with both hands and saying what needs to b e said. Yeah, we are looking at a bankrupt system and we have to do something about it. Raising taxes, that's talking about a tired cliché. That's not going to help, that's just going to make it more bankrupt. That's just going to throw more money down the hole. ...

...

Kudlow: ... Take Thompson, what you heard is he bullish or bearish for stocks?

Metz: I'd say bullish.

Kudlow: Don Luskin, bullish or bearish for stocks for Mr. Thompson?

Luskin: Oh bullish, bullish, bullish. I only wish a guy like that could be president.

Kudlow: That's interesting. Both of you agreed on that, that's fascinating. Gentleman, thank you very much for helping us out this evening. Thanks for staying around. Michael Metz and Don Luskin, two of Wall Street's very best. Up next, my last word on "Kudlow & Company" on Fred Thompson.

Kudlow: ... We saw Michael Metz and Don Luskin, our two ace investments all star commentators. One is a Democrat, the other's Republican. One is a supply sider and the other is not. They both agree that Fred Thompson had a lot of courage and they both felt that he would be a big plus for the stock market if he were elected next year. I find that fascinating, kudos to Mr. Thompson.

End transcript.

Don Luskin is Chief Investment Officer for Trend Macrolytics and a contributing writer to SmartMoney.com. Michael Metz is Chief Investment Strategist for Oppenheimer & Co. Inc.

Fred Thompson, Thompson Campaign Press Release - In Case You Missed It...Thompson would be "bullish" for stocks as President Online by Gerhard Peters and John T. Woolley, The American Presidency Project https://www.presidency.ucsb.edu/node/295722

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