David Stockman on Federal Debt
This comment by David Stockman is one of the most honest assessments of our debt quandry that we have heard from anyone and is worth repeating until circumstances change. At least we should hold WDC accountable for this dysfunctional behavior and dishonest dialogue.
Why we should care about the debt ceiling:
David Stockman: "I do not think we should care about the debt ceiling, because they will extend it when push comes to shove at the 11th hour after a lot of smoke and mirrors and tricks have been played...What we should care about is the fact that we're borrowing $6 billion every business day. Both parties have taken fiscal positions that will not even begin to close the gap. Both parties are simply aligned, deceiving the public that there will not be sacrifice. There will be. Tax increases across the board for the entire middle class, not just the rich."
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