“IF there were such a thing as Chapter 11 for politicians, the Republican push to extend the unaffordable Bush tax cuts would amount to a bankruptcy filing.” – by David Stockman former Budget Director under Reagan.
Click here for David Stockman’s article “Four Deformations of the Apocalypse”
Wow, even Stockman the champion of the Laffer curve thinks extending the tax breaks is a bad idea.
The far to the right of Reagan, Republicans need to make up thier minds, spend more on thier rich friends or cut the debt. I wonder which they will go with?
Back in the mid-80’s Dave Stockman wrote “The Triumph of Politics” about his experience as budget director in the first Reagan administration. It’s an absolutely fascinating intimate look into the Reagan cabinet, where Reagan, no question the boss, was nevertheless manipulated by the senior members of his cabinet into policies that created the first trillion dollars of US debt.