Posted by | September 26, 2010 23:41 | Filed under: Top Stories

David Stockman, the heralded Reagan Director of the Office and Management and Budget, says Republicans “can’t get the job done” with their effort to replicate the 1994 Contract with America.

“[If] you’re exempting two-thirds of the budget and you’re focusing only on non-defense discretionary, which actually is only about 500 billion or 15 percent of the budget, it’s pretty obvious you can’t get the job done,” said David Stockman, a former adviser to President Reagan, in a recent interview with National Public Radio.

“Some economic analysts have said that if you do that, that by the year 2020, the government wouldn’t have enough money to spend on anything except for Medicare, Social Security and defense if it’s lucky,” summarized interviewer Guy Raz. “Do you think that sounds about right?”

“Yes, I do,” Stockman replied. “We couldn’t afford the Bush tax cuts when they were put in in 2001, 2003. Now, we’re – eight years later, we’re trillions in additional debt later, we’re two unfinanced wars later, we’re a trillion dollars of stimulus spending later, 800 billion of TARP, so it’s pretty obvious if we couldn’t afford them back then, in no way, shape or form can we even dream about affording them now.”

Click here for reuse options!
Copyright 2010 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.