David Stockman, who was President Reagan’s first OMB director, gave an interview to the Wall Street Journal’s Alan Murray. I certainly don’t agree with everything Stockman says. He has almost nothing to say about how to create growth in the economy. And Stockman’s betrayal of President Reagan (when he published The Triumph of Politics: Why the Reagan Revolution Failed) was troubling then and remains troubling today. (In the interview, Stockman addresses the SEC criminal charges that were made against him, charges that were later dropped.)
Still, Stockman is not a stupid man, and his analysis of America’s precarious fiscal situation, while alarming, is worth listening to.