Thursday, September 2, 2010

Ronald Reagan head of the Office of Management and Budget talks about what really lead up to our current economic problems

This is a very interesting article where David Stockman Ronald Reagan's former head of the Office of Management and Budget.

Basically he is saying that the Republican party has had a big rule in it (though he doesn't say the Democrats are much better) and in fact it all started with Nixon getting us off the gold standard.

then he talks about the fact that the Republicans push for tax cuts but don't cut spending enough to match and in fact when looking at the military they are really the big spenders of government dollars.

Too much freedom and money has been giving to wall street.

and because of the lost of jobs and the growing wage gap Stockman thanks there maybe a class war in the United States where the poor (and middle class or what used to be the middle class) raise against the rich.

Hopefully things will get fixed before we need to get to that point, but I fear he may have a point about that.

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