Reagan’s budget chief Stockman denounces Paul Ryan budget as ‘fairy-tale’

By Glenn Wright

David A. Stockman, director of Ronald Reagan’s Office of Management and Budget, and once a proponent of the “trickle-down” economics idea, today ripped into the debt-reduction ideas of House Budget Committee Chair, and Mitt Romney‘s new VP selection, Paul Ryan, as a “fairy-tale”.

Writing in the New York Times, Stockman provided a dire-sounding critique of the Ryan plan, and the behavior of Republicans in general, as he explained the real problem was not only the welfare state favored by liberals, but also the warfare state favored by Republicans.

Speaking of Ryan’s budget, Stockman accuses Ryan of talking tough on budget cutting, but being a hypocrite in action, because, as Stockman says:

“Mr. Ryan showed his conservative mettle in 2008 when he folded like a lawn chair on the auto bailout and the Wall Street bailout. But the greater hypocrisy is his phony “plan” to solve the entitlements mess by deferring changes to social insurance…the supposedly courageous Ryan plan would not cut one dime over the next decade from the $1.3 trillion-per-year cost of Social Security and Medicare.”

Further, Stockman criticized Wall Street megabanks, that he called “quasi-wards of the state”, because they had received huge government bailouts as banks that are “too big to fail”, Stockman said that instead the institutions, which he described as dangerously unregulated and unmanageable, were “too big to exist”. Stockman recommended going back the Depression-era Glass-Steagall legislation, which “separated commercial and investment banking”.

Finally, Stockman dismissed the idea that either Mitt Romney or Paul Ryan had any idea of how to create jobs:

“Like his new boss [i.e., Romney], Mr. Ryan has no serious plan to create jobs….Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nation’s fiscal calamity and no plan to revive capitalist prosperity — just empty sermons.”

Apple iPhone 14, 128GB, Midnight - Unlocked (Renewed)

(4610)

$341.76 (as of April 19, 2025 06:23 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

SAMPEEL Womens Summer Tops Trendy 2025 Eyelet Crossed V Neck T Shirts Loose Casual Short Sleeve Tshirts Shirts Fashion

(64)

$6.99 (as of April 18, 2025 17:20 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Amazon Fire TV Stick 4K (newest model) with AI-powered Fire TV Search, Wi-Fi 6, stream over 1.5 million…

(63693)

$29.99 (as of April 19, 2025 06:23 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Ring Battery Doorbell, Head-to-Toe Video, Live View with Two-Way Talk, and Motion Detection & Alerts (2024 release),…

(10873)

$54.99 (as of April 19, 2025 06:23 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

COWSAR Ice Maker Countertop, Portable Ice Machine with Self-Cleaning, 26.5lbs/24Hrs, 9 Bullet Ice Cubes in 6 Mins, Ice…

(4446)

$79.99 (as of April 19, 2025 06:23 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

SkaterTrainers- Skateboard Tricks Fast No Experience Needed- Fun, Safe, and Easy- Ollies, Kickflips and More- All…

(7001)

$25.99 (as of April 19, 2025 06:23 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

Apple iPhone 12 Mini, 64GB, Black - Unlocked (Renewed)

(15585)

$177.50 (as of April 19, 2025 06:23 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

ASOBRIS Laser-Level-with-Tripod, Green Cross Line Laser with Tripod Self-Leveling, Lazer Leveler Tool for Picture Hanging Construction Floor Tile Wall Home Renovation, Indoor Project, Battery Included

(174)

$39.99 (as of April 18, 2025 17:20 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

WEESO Womens Summer Tops Trendy 2025 Cap Sleeve T Shirts Crew Neck Pleated Front Clothes Fashion

(133)

$6.99 (as of April 18, 2025 17:20 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)

MRS. MEYER'S CLEAN DAY Dog Deodorizing Spray, White Peach Scent, 8oz

(111)

$12.05 (as of April 18, 2025 17:20 GMT -07:00 - More infoProduct prices and availability are accurate as of the date/time indicated and are subject to change. Any price and availability information displayed on [relevant Amazon Site(s), as applicable] at the time of purchase will apply to the purchase of this product.)