Reagan White House budget guru David Stockman touts Ron Paul

[emazur]

this is almost on the front page of digg - I never heard of Stockman so I don't know if he's a "guru", I'm just copying the headline here
http://digg.com/politics/Trashing_Obama_s_Economic_Team
http://www.thedailybeast.com/blogs-and-stories/2010-07-11/reagan-budget-guru-david-stockman-on-obamas-shoddy-economic-team/

Yet Stockman hopes the Republicans gain the majority in the House and Senate next November, because “then the next Congress gets down to the business of trying to reform entitlements and cut spending. Also, while we’re at it, we have to get out of the imperialism business, okay? No imperial power has succeeded on the edge of bankruptcy.”

Which means: Get out of Afghanistan and Iraq right away—the same prescription touted by renegade Republican congressman Ron Paul.

“I’m totally in agreement with Ron Paul,” Stockman says. “I don’t think he can be elected president, but I think he’s the only guy who really understands monetary policy, economic policy, the proper role of the state, the proper role of the U.S. in the world. On the other hand, the world is changing pretty dramatically before our eyes. I wouldn’t rule out anything right now. But if you asked me who is speaking truth to power, it’s Ron Paul.”

[Krugerrand]

he's catchin' on.

[specsaregood]

The other patrons pay no attention to the silver-haired gadfly at the corner table who’s making smart remarks about the powers that be.
Another fellow Gadfly! No wonder he likes Dr. Paul. i wonder if this guy is quixotic as well.

[klamath]

Stockman was a really big name in the early Reagan years. Anyone old enought to be a Reagan supporter will remember Stockman well.

[Sentient Void]

diggdugg

[rprprs]

diggdugg

did that too

[someperson]

he's catchin' on.
I'm telling ya!

[Acala]

Stockman was a really big name in the early Reagan years. Anyone old enought to be a Reagan supporter will remember Stockman well.


This^

He wrote a best-selling book called "A time for Truth" bemoaning the fiscal irresponsibility in DC. I will be sending this to my Dad. It is actually a pretty big endorsement for the Good Doctor.

[Galileo Galilei]

I was assigned to read a book by David Stockman in college in a sophmore level class.

[Brian4Liberty]

Stockman was a really big name in the early Reagan years. Anyone old enough to be a Reagan supporter will remember Stockman well.

And if I remember correctly he was one of the traitors in the Administration. He is a Larry Kudlow kind of guy, he believed in a balanced budget, but had no problems with achieving that through a compromise of higher taxes. A big government, balanced budget kind of guy.

Reagan almost fired him.

Why not check out Wikipedia:



Stockman's power within the Reagan Administration waned after the Atlantic Monthly magazine published the famous 18,246 word article, "The Education of David Stockman",[1] in its December 1981 issue, based on lengthy interviews Stockman gave to reporter William Greider. It led to Stockman being "taken to the woodshed by Reagan" as the White House's public relations team attempted to limit the article's damage to Reagan's perceived fiscal-leadership skills. Stockman was quoted as referring to the Reagan Revolution's legacy tax act as: "I mean, Kemp-Roth [Reagan's 1981 tax cut] was always a Trojan horse to bring down the top rate.... It's kind of hard to sell 'trickle down.' So the supply-side formula was the only way to get a tax policy that was really 'trickle down.' Supply-side is 'trickle-down' theory." Of the budget process in his first year on the job, Mr. Stockman is quoted as saying: "None of us really understands what's going on with all these numbers," which was used as the subtitle of the article.

After Stockman's first year at OMB and on the heels of 'being taken to the woodshed by the president' over his candor with Atlantic's William Greider, Stockman became disillusioned with the projected trend of increasingly large federal deficits and the rapidly expanding national debt, which he blamed on the Reagan tax cut.

[Brian4Liberty]

and later became the target of Justice Department and Securities and Exchange Commission investigations into what the government alleged was his fraudulent stewardship of a failed auto parts company. Criminal charges were dropped last year for lack of evidence, and a few months ago Stockman settled the SEC’s civil suit by paying $7.19 million in penalties and fines.

Hmmm. Is this like a Ron Paul endorsement coming from Bernie Madoff?


Stockman, a nominal tax-cutting supply-sider when he worked for Reagan, has been crusading in recent weeks for President Obama to let George W. Bush’s tax cuts expire...

There we go, tax increases to balance the budget. When push comes to shove, he ends up supporting more taxes.

[specsaregood]

Hmmm. Is this like a Ron Paul endorsement coming from Bernie Madoff?

Uhm, not quite. "Criminal charges were dropped last year for lack of evidence"



There we go, tax increases to balance the budget. When push comes to shove, he ends up supporting more taxes.
Be fair though, he said he opposed those tax cuts because we didn't earn them. ie: we didn't cut spending.

[TNforPaul45]

Stockman was a really big name in the early Reagan years. Anyone old enought to be a Reagan supporter will remember Stockman well.

Unfortunately, the imagined memory of Reagan that resides in the tepid minds of most neo-conservatives outweighs and overpowers the actual actions and associations of Reagan.

This news will not do much for them. :(

[Acala]

There is a school of thought that holds that if you force the government to pay for everything out of tax revenues rather than by borrowing, you not ony have a balanced budget, rather than the runaway debt that is about ready to eat us alive, but you also eventually have smaller government because people will find the burden of actually paying for everything immediately through taxation to be unacceptable.

In fact, this is the implication of Ron Paul's position that the line of credit made available by the Fed is to blame for our aggressive foreign because the public would not support that policy if it had to pay for it directly with taxation.

So I don't think it is fair to label Stockman as a big government type just because he doesn't think you should lower taxes by running up the debt. He was absolutely an advocate of cutting the size of government.

[Brian4Liberty]

My recollection is fuzzy, but it seemed like the Reagan Administration ended up divided into two camps. Stockman was a major player in the camp that pushed for higher taxes and resulted in the "bad reputation" of Reagan in libertarian circles. That was the camp that included GHW Bush and Bob Dole.

[erowe1]

Stockman lives in CT now. Hopefully the Schiff campaign can get an endorsement from him.
http://en.wikipedia.org/wiki/David_Stockman

[michaelwise]

In the final phase of the complete and total economic collapse, all the proles will be screaming for Dr Paul.

[specsaregood]

It just hit the top of Digg btw.

[Imperial]

How can we have tax cuts when the people in DC refuse to make substantive spending cuts?