HA...former Reagan Budget Director, David Stockman, now says "I'm embarrassed by Republican Party"

[whathehell]

Source: 60 Minutes

David Stockman, former Budget Director and advocate of "supply side economics" for Ronald Reagan now says he is embarrassed by the Republican Party and that he would impose "a fifteen percent tax on the rich".



Read more: CBS.com

---

He also cited the difference between the net worth of the top 5% in the US 1980 and the same demographic now: In 1980 of the top 5% was worth Eight Trillion Dollars. They now have FORTY Trillion dollars...A very interesting interview from this former high profile Reagan Budget Director.

Check it out at CBS.com

[doc03]

1. I saw the interview and it really worries me. The debt just gets

bigger and the Republicans keep winning on tax cuts. Obama appointed the cat food commission with
no Republican support. We know what they are going to say, we have to cut SS and I am afraid that is exactly what Obama will do. Then that will give the Republicans their issue for 2012, Obama cut SS. I don't see how we can ever get the country straightened out when one party just refuses to govern. Lets be honest everyone's taxes need to go up to balance the budget. The Republicans will keep running on tax cuts and keep winning elections. The only way I can see us ever getting out of this mess is if more Republicans like Stockman come forward.

[Gold Metal Flake]

15. Stockman came forward on 60 minutes and said we must cut "entitlements like Social Security".

He's not here to help.

[Axrendale]

2. Excellent to read, but also rather old news

Mr. Stockman has been a critic of Republican economic policies for some time now - he originally declared Reaganomics to have been an "utter failure" while he was still working in the Reagan White House back in the '80s. Subsequently he published a book entitled "The Triumph of Politics" addressing the subject of how and why the so-called "Reagan Revolution" turned out to be such a disastrous flop, giving a rare and fascinating honest look at the Reagan administration and its disastrous legacy from the inside.

[whathehell]

12. "Old news" for some is often real "news" for others....

You don't want to know how many democrats still think the "Dean scream" of 2004 was real, as opposed to a product of editing.

[brentspeak]

3. Stockman, along with Paul Craig Roberts and Clyde Prestowitz, are Reagan veterans who make sense

We'd be much better off with any of them giving Obama economic advice rather than Geithner and Summers (though Geithner and Summers are sane enough to realize that the Bush tax cuts need to expire).

[Hawkeye-X]

4. There is a special place for you, Mr. Stockman, when you pass away

and it's not going to be pretty in Hell.

You are one of the many that started this 30 year curse.

[brentspeak]

7. Harsh. He's doing a public service by trying to warn America about today's GOP

And the dangers of continuing this ruinous tax policy. Contrast him with someone like Newt Gingrich -- someone who will never fess up and tell the truth about corporate Republican-nomics.

[whathehell]

13. I agree that he is doing a service now. n/t

[Gold Metal Flake]

14. Yes, warning America that it must cut "entitlements like Social Security".

He's the same old snake.

[indepat]

20. When and if the Cat-food Commission's recommendations to make deep cuts in social security

are enacted into law, it will take hundreds of snakes in the Congress and one in the Executive Branch. :patriot:

[ck4829]

5. Better late than never. K&R.

[madrchsod]

6. the republicans today are even more extreme than the reaganbots

the eisenhower republicans ( those who remember that far back) voted for obama

[Odin2005]

8. Link please?

[somone]

9. Here's one:

http://www.cbsnews.com/8301-504803_162-20021193-10391709.html

[Odin2005]

10. Thanks!

[Motown_Johnny]

11. I will assume this guy believes in an afterlife and figures he is going to Hell for what he did

unless he can help turn it around, and even then......

[K8-EEE]

16. Why is this embarrassment just kicking in now?

The Republican Party has been embarrassing during my entire lifetime -- Nixon, Reagan, Quayle, the Bushes, all of them are enough to make one wear a maple leaf T-shirt when travelling out of sheer embarrassment!

[Art_from_Ark]

17. Really

He was economic point guy for the man who claimed that trees cause more pollution than automobiles and who made up bullshit stories, like the one about a "welfare queen", and passed them off as fact. And who sicced the National Guard against unarmed students in Berkeley while he was governor of California.

[No Elephants]

18. In other news, Capone now embarrassed by Mob.

[whathehell]

23. In other news,

This got 42 recs, so you can whine if you want all you want.:P

[Scurrilous]

19. K & R

:thumbsup:

[Fuzz]

21. And he is an asshole, so that says a lot!

[progressoid]

22. +1