Sunday, December 12, 2010

David Stockman - This Man Makes Sense!

David Stockman was the Director of the Office of Management And Budget, until he resigned in 1985, owing to his concerns about mounting national debt brought on by the Reagan Administration's failure to match its tax cuts with equal cuts in spending. Stockman is an independent minded fiscal conservative who has spoken out against the Bush Tax Cuts, as well as the out of control spending of the Obama Administration. His critique of the Federal Reserve is most insightful, especially regarding the erosion of its independence and the danger of the latest round of quantitative easing. He stated "I think the Fed is injecting high grade monetary heroin into the financial system and one of these days it's going to kill the patient."

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