David Stockman, Ex-Reagan Budget Director: George W. Bush's Policies Bankrupt The Country

[dinar_stud]

David Stockman, Ex-Reagan Budget Director: George W. Bush's Policies Bankrupt The Country

 

 

A former adviser of Ronald Reagan has some choice words for George W. Bush.

David Stockman, Reagan’s budget director from 1981 to 1985, slammed Bush and his former boss in an op-ed in The New York Times Sunday. Stockman argued in the piece that Reagan’s view on the deficit “created a template for the Republicans’ utter abandonment of the balanced-budget policies of Calvin Coolidge.”

“(Reagan’s deficit policies) allowed George W. Bush to dive into the deep end, bankrupting the nation through two misbegotten and unfinanced wars, a giant expansion of Medicare and a tax-cutting spree for the wealthy that turned K Street lobbyists into the de facto office of national tax policy,”Stockman wrote.

(Click over to The NYT to read Stockman’s full op-ed)

Stockman, also a former Republican congressman from Michigan, resigned from Reagan’s administration in 1985 in protest over deficit spending. Bush and Reagan aren’t Stockman’s only targets in the piece; he attacks lawmakers, Federal Reserve and Treasury officials and Wall Street for a combination of easy money and deficit expanding policies that he argues will lead to another Wall Street bubble explosion in the near future.

Stockman may have a point when it comes to Bush’s policies, at least. The cost of the wars in Iraq and Afghanistan combined with the Bush-era tax cuts for the wealthy will account for nearly half of the debt the U.S. will owe by 2019, according to a February analysis from the Center on Budget Policy and Priorities, a left-leaning think tank.

Bush isn’t the only Republican leader to draw Stockman’s ire in recent months, though. During the 2012 presidential election, Stockman called Republican candidate Mitt Romney “a master financial speculator who bought, sold, flipped, and stripped businesses.” He also attacked Vice Presidential Candidate Paul Ryan’s budget, arguing that it was “devoid of credible math or hard policy choices.”

[yota691]

Thanks for the   Happy Easter 

[Maggie123]

Interesting read Dinar Stud, Thank You for bringing it in.

 

I have come to the conclusion that all the modern wars are "Bankers Wars" and the guberment works for them, thats how they prosper themselves.

 

They (the US guberment) gain the most by appearing to be in control of the FED RESERVE, IMF and the WORLD BANK. Oh and the UN too.

 

It's a case of the tail wagging the dog. Uggggg

[Biker]

Just another Fat assed politician running his lips, He don't no his ass from a hole in the ground. Another Media seeker trying to get noticed in public again. If he was so fricking smart why didn't he straighten all this crap out when he was in office. Another low life scum bag knocking some one else.

[eastcreek]

David Stockman, Ex-Reagan Budget Director: George W. Bush's Policies Bankrupt The Country

 

 

A former adviser of Ronald Reagan has some choice words for George W. Bush.

David Stockman, Reagan’s budget director from 1981 to 1985, slammed Bush and his former boss in an op-ed in The New York Times Sunday. Stockman argued in the piece that Reagan’s view on the deficit “created a template for the Republicans’ utter abandonment of the balanced-budget policies of Calvin Coolidge.”

“(Reagan’s deficit policies) allowed George W. Bush to dive into the deep end, bankrupting the nation through two misbegotten and unfinanced wars, a giant expansion of Medicare and a tax-cutting spree for the wealthy that turned K Street lobbyists into the de facto office of national tax policy,”Stockman wrote.

(Click over to The NYT to read Stockman’s full op-ed)

Stockman, also a former Republican congressman from Michigan, resigned from Reagan’s administration in 1985 in protest over deficit spending. Bush and Reagan aren’t Stockman’s only targets in the piece; he attacks lawmakers, Federal Reserve and Treasury officials and Wall Street for a combination of easy money and deficit expanding policies that he argues will lead to another Wall Street bubble explosion in the near future.

Stockman may have a point when it comes to Bush’s policies, at least. The cost of the wars in Iraq and Afghanistan combined with the Bush-era tax cuts for the wealthy will account for nearly half of the debt the U.S. will owe by 2019, according to a February analysis from the Center on Budget Policy and Priorities, a left-leaning think tank.

Bush isn’t the only Republican leader to draw Stockman’s ire in recent months, though. During the 2012 presidential election, Stockman called Republican candidate Mitt Romney “a master financial speculator who bought, sold, flipped, and stripped businesses.” He also attacked Vice Presidential Candidate Paul Ryan’s budget, arguing that it was “devoid of credible math or hard policy choices.”

Funny how Stockman happened to NOT mention the guy currently in the WH who will be responsible for 75% of the national debt by the time he's through this term. Simply amazing. I'm sure it must be just an oversight.

[sxsess]

Funny how Stockman happened to NOT mention the guy currently in the WH who will be responsible for 75% of the national debt by the time he's through this term. Simply amazing. I'm sure it must be just an oversight.

Because he is another liberal imbecile with 0 common sense. What a joke..

[dontlop]

i guess it was bush policies that led to the 5.7 trillion dollars in debt clinton left bush along with a tech bubble that caused the recession   2 months after bush took office .. and  led to the 911 national security disaster that left the terorists into america 2 years earlier .. and of course .. the housing bubble that was set up 20 years before bush  became president that bush himself pointed out to congress since his first year in office .. and the social programs that have been bankrupting out country since they were passed into law by democrats .

 wow .. and to think there are those who welcome this trash to this site .

[jonjon]

Funny how Stockman happened to NOT mention the guy currently in the WH who will be responsible for 75% of the national debt by the time he's through this term. Simply amazing. I'm sure it must be just an oversight.

Now I understand what the term "Oversight Committee" means.

[dontlop]

16 trillion out of 17 trillion of our debt  is caused by  social programs in the united states.

[dontlop]

this topic article is a classic example of the lies that come from the left wing of the united states .

[dontlop]

reagan was forced to borrow  money after  carters disaster . reagan applied all the correct  policies to  bring our economy back .. but those debts should of been paid back with the money generated by the economic boom reagan put in place . instead clinton added to the debt  and  left a huge debt to bush  along with a suprise on 911  and the housing bubble created by clinto and enhanced by clinton .. bush did a good job bringing our economy back after 911 .. but the  housing bubble created years earlier couldnt be fixed as democrats called bush a liar  from bushs first year in office as bush exposed the housing crises

[Tirebiter]

The bottom line, similar to the dinar exchange, is that it was/is way more complicated than Stockman makes it out to be.  Stockman loved Reaganomics initially.  He left when he wasn't "appreciated" (translation: Reagan was not following my advice).   Based on the Laffer principle, both  Reagan & Bush 43 were in agreement.  You can't equate wars to an economic program.  The wars are always funded separately under special provisions.  Stockman must have a book coming out he is trying to promote and sell.

[LIBoy]

So what did everyone have for Easter dinner?

I had a wonderful spiral ham with some great side dishes including sweet potato pie and corn pudding......YUM!

[kid4dinar]

Just another phony republican. Trying to make a name for himself.

Bush suffered thru 911 the invasion of Iraq with 100% of those who has condemned him for invasion they themselves approved.

As they all yes all stood on the steps and pledged allegiance to my, our country they now are trying to destroy.

This community leader does not know the first thing about being a leader of the strongest nation with the most powerful military in the world.

Each day he destroys a little more of our nation.

Right in front of the uninformed that support him.

Meanwhile he blames everybody else, 5 plus years later they still and try to blame me. (Bush)

[dontlop]

republican phony .. whats that .. you mean like the fake tea party attendee who walked thru the tea party rally with his racist signs   so the liberal media could film it and  say those tea party  people are raciists .

 

 

 

only later to find him in the front row of a democrat   rally .. and when questioned he ran away ..

 

 the liberals have to constantly lie and change the subject to get by .. and if you bring proof they were lying they say .. thats old news  we are talking about another lie now .  ..its one lie on top of another lie from democrats if you lie you will steal .. if you steal you will lie ..

i guess the liberals didnt find it odd that only one guy had a racist sign .. you would think if the tea party was just a bunch of racists ,,they would all be carrying a racist sign .. but nope the liberals bought it hook line and sinker..

[Tirebiter]

The fate of the U.S. doesn't have to hinge on conservative v liberal rhetoric. It needs to hinge on what is best for all Americans. This divisiveness will be the US downfall imo. It is unfortunate that the only time Americans come together is in a time of tragedy such as 9/11. Time for the US populace to recognize that sacrifices have to be made at all levels and get this country back on priorities instead of special interest. JMO.

[flatdawg]

i guess it was bush policies that led to the 5.7 trillion dollars in debt clinton left bush along with a tech bubble that caused the recession   2 months after bush took office .. and  led to the 911 national security disaster that left the terorists into america 2 years earlier .. and of course .. the housing bubble that was set up 20 years before bush  became president that bush himself pointed out to congress since his first year in office .. and the social programs that have been bankrupting out country since they were passed into law by democrats .

 wow .. and to think there are those who welcome this trash to this site .

“It's easier to fool people than to convince them that they have been fooled.”

― Mark Twain

[dinar_stud]

Funny how Stockman happened to NOT mention the guy currently in the WH who will be responsible for 75% of the national debt by the time he's through this term. Simply amazing. I'm sure it must be just an oversight.

 

how do you figure?? i wanna see how mistaken you are.

[gymrat76541]

“created a template for the Republicans’ utter abandonment of the balanced-budget policies of Calvin Coolidge.”

You just KNEW that saying anything negetive about Republican on this site was going to get a response. LOL

[willy1der]

reagan was forced to borrow  money after  carters disaster . reagan applied all the correct  policies to  bring our economy back .. but those debts should of been paid back with the money generated by the economic boom reagan put in place . instead clinton added to the debt  and  left a huge debt to bush  along with a suprise on 911  and the housing bubble created by clinto and enhanced by clinton .. bush did a good job bringing our economy back after 911 .. but the  housing bubble created years earlier couldnt be fixed as democrats called bush a liar  from bushs first year in office as bush exposed the housing crises

I questioned an Obama lover about Bush having a democratic congress and senate that pushed TARP on him and the response was Bush should have vetoed it. Bush was damned either way. Amazing how the demon-crats can twist and pervert the truth. They pushed TARP, and then slammed Bush because he didn't veto their policy.

[pattyangel]

16 trillion out of 17 trillion of our debt  is caused by  social programs in the united states.

I have to agree with you on this unnecessary programs, wasted taxed dollars.