Fiscal cliff head fake w/David Stockman/Lauren Lyster

[Jack Sprat]

http://finance.yahoo.com/blogs/daily-ticker/fiscal-cliff-head-fake-budget-woes-stay-david-131615859.html

Ex Reagan Budget Director indicates more tax revenues are needed along with dramatic defense spending cuts and some Social spending cuts.

Stockman says that otherwise the sequesters and debt limit crisises will come back again and again over and over.

[Octafish]

1. Stockman has gone a long way forward.

He crunched the numbers for Pruneface. If anyone knows who's made off like a bandit, it's him.

http://seekingalpha.com/article/187077-david-stockman-on-the-single-most-drastic-error-in-policy-in-modern-history

[Jack Sprat]

2. Yes, and he acknowledged long ago

that "trickle down economics" was flawed and would never produce the revenues to sustain its' costs. I think it was the main reason he stepped down from his job at OMB under Reagan. He realized early on that the Reagan 'voodoo' economic plan was creating a huge gap between spending and revenues and was exploding the deficit. And it did, it has, and the conservatives are back pitching this same manure again in Congress and on FauxNews. Good article, Octafish.

[Octafish]

3. Red Ink Ronnie made it possible for today's greedheads to say 'There's no money for (anything good)'

What makes me crazy is how so many in Washington still believe it, including those in the Oval Office who believe we can't afford government jobs programs, universal health care, subsidized housing, a clean environment, let alone safe neighborhoods and top quality educations for all Americans. For us, thanks to all the red ink run up by our servants in Washington and all the cash kicked back to the big campaign contributors through lowered taxes and increased military spending getting moved offshore, it's austerity.

I'm so old, I remember when Democrats not only believed that making life better for ALL Americans was government's responsibility, we worked to make it happen. Now, it seems more than ever, we go along with whatever the other side is selling to get along after leaving "government service."

PS: Did you know President Kennedy wanted to promote government service, among other things, if re-elected? His secretary, the late Evelyn Lincoln, wrote in her book Kennedy and Johnson:

As Mr. Kennedy sat in the rocker in my office, his head resting on its back he placed his left leg across his right knee. He rocked slightly as he talked. In a slow pensive voice he said to me, 'You know if I am re-elected in sixty-four, I am going to spend more and more time toward making government service an honorable career. I would like to tailor the executive and legislative branches of government so that they can keep up with the tremendous strides and progress being made in other fields.' 'I am going to advocate changing some of the outmoded rules and regulations in the Congress, such as the seniority rule. To do this I will need as a running mate in sixty-four a man who believes as I do.' Mrs. Lincoln went on to write "I was fascinated by this conversation and wrote it down verbatim in my diary. Now I asked, 'Who is your choice as a running-mate?' 'He looked straight ahead, and without hesitating he replied, 'at this time I am thinking about Governor Terry Sanford of North Carolina. But it will not be Lyndon.'"

SOURCE: http://www.spartacus.schoolnet.co.uk/JFKlincoln.htm

Gee. I don't ever hear Chris Matthews or Bill O'Reilly talk about that.

[David Zephyr]

5. Today he's calling President Obama's housing recovery a "bubble"

David Stockman is a proven liar whose selfish ambitions will throw anyone under a moving bus to better his "stock" in life.

Today, this fucker called the real housing recovery under President Obama that is happening a "bubble".

Really?

1.) For the first time in eons our banks are stress-tested.

2.) For the first time ever, homeowners are getting rate relief under the "Obama loan" dropping their monthly payments down to a place where they can keep their homes. Let David Stockman tell the millions of families (who have refinanced their homes ONLY because President Obama forced the banks' hands to do so) that the extra money they have at the end of every month is not real money and only a bubble.

3.) A large percentage of the homes being purchased today are all cash buys, a fact that Mr. Stockman seems to overlook in his "bubble" forecast.

4.) Borrowers are put through the ringer to qualify and the fancy financing days under George Bush are over. Seriously over.

So why is David Stockman suddenly spreading doom and gloom on the recovery that the President has fostered and nurtured? Because he and all the other privileged fucks can't stand to see President Obama succeed.

Stockman reminds me of Dick Morris. Two useless assholes who have not figured out that everyone knows they are assholes except themselves.

[Octafish]

6. Well said. The guy is a Reagonomics henchman.

He made me forget when he talked about seven-eighths of all the wealth in human history being created since 1980, the lion's share of which ended up in the pockets of the ultra-rich, thsnks ti fiscal policy, tax law sfm4 the slanted economic playing field. For a moment, I thought he was a human. You are correct, David Zephyr, he is part of the ptoblem.

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=439&topic_id=858210&mesg_id=858323

[forestpath]

4. Fuck him for calling for SS cuts - I won't accept that from anybody, especially not

from one of Reagan's most eager henchmen.