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The John Batchelor Show

S8 Ep727: 13. Jim McTague: Jim McTague reports on the economy in Lancaster County, noting steady business activity despite rising gasoline prices. He emphasizes the role of wealthy retirees in buffering retail spending and explains the tax implications of tradition

The John Batchelor Show

John Batchelor

News, Books, Society & Culture, Arts

4.52.8K Ratings

🗓️ 11 April 2026

⏱️ 9 minutes

🧾️ Download transcript

Summary

13. Jim McTague: Jim McTague reports on the economy in Lancaster County, noting steady business activity despite rising gasoline prices. He emphasizes the role of wealthy retirees in buffering retail spending and explains the tax implications of traditional IRAs versus Roth accounts. (13)
1956 GOLDEN NUGGET

Transcript

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0:00.0

I'm John Batchel. I welcome Jim McTagg, veteran correspondent for Barron's Washington editor, but now retired

0:24.6

as a novelist in Lancaster County and watching Lancaster County. As it goes, goes the state of

0:30.4

Pennsylvania, the Keystone State, and as the Keystone State goes, so the American economy.

0:36.1

Jim, a very good evening to you. It is tax week before,

0:40.7

tax eve, and we're looking at the economy dealing with the war in the Middle East,

0:45.6

unfinished business, the tariffs unfinished business, the price of gasoline, certainly unfinished

0:52.3

business. And you've been going through the county as it emerges from cold spring into warm spring.

1:02.1

What's business look like you, Jim?

1:03.8

What have you learned?

1:04.6

Good evening to you.

1:06.6

Good evening, John.

1:07.8

You know, I don't look at the reports in the papers.

1:13.0

Or I look at them, but when I'm examining the county, I'm clinically detached.

1:18.5

So, you know, you read that the University of Michigan consumer confidence is at the lowest level in 70 years.

1:26.6

Well, when I go around the county and I see that, you know, the price of gas now is about $4.12 a gallon.

1:34.3

It had been as high as $4.29.

1:36.6

I see a slowdown in retail and restaurant activity, but it hasn't fallen off the cliff at all. So the economy is still pretty solid in Lancaster County, Pennsylvania, which is a bellwether

1:50.8

for the national economy because we are representative of every sector that you can think of.

1:58.1

So again, gas prices were higher.

2:03.2

It impacted inflation, but the average person in Lancaster County is behaving as usual.

2:11.9

Let's go to a diner.

2:13.2

Where have you been and what's the business?

...

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