"Both parties are advocating default" - David Stockman

[Riot]

Originally Posted by dellinger63

Right now raising taxes or removing the Bush/Obama tax cut extension in an effort to pay down the debt would do nothing but drain personal savings

No. It would cut our debt by about 1/3 to 1/2 within 10 years.

The position of demanding we correct out financial situation and debt without increasing our income is ludicrous and simply physically impossible. Thinking we can "cut our spending" to being debt free simply can't be done. It's simplistic idealogical demagoguery and unsupported by any objective fact whatsoever.

David Stockman has admitted the policies of Reaganomics were an utter failure, too, when you catch him in an unguarded moment. History certainly objectively shows that. Thanks, Stockman, for starting us into this mess with your absurd financial policies. We dreaded the result at the time, and years later, it's come true.