Wednesday, July 1, 2015

Reagan aide now preaches America's doom

Scaremonger David A. Stockman's NY Times piece

Reagan aide now preaches America's doom


David Stockman was among the more lucid of the Reagan revolutionaries. The first-term budget director developed a reputation as a realist among ideologues. He left as government spending stripped past tax collections and the national deficit soared.

He's been back as an increasingly adamant (and best-selling) critic of fairy-tale economics by both Republicans and Democrats. His opinion piece "Sundown in America," in Sunday's New York Times, makes a lot of valid points about the murderous bankruptcy of the Bush II administration, for example.

But is he going too far in preaching doom? And will this kind of scare talk help persuade more Americans, including the radicals right and left who would break the current wealth-dominated representative-government system, that the nation really is hopeless? Or will it at least help sell more copies of Stockman's new book? 

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PhillyDeals posts drafts, transcripts and updates of Joseph N. DiStefano's columns and stories about Philly-area business, which he's been writing since 1989.

DiStefano studied economics, history and a little engineering at Penn and taught writing at St. Joseph's. He has written thousands of columns and articles for the Inquirer, Bloomberg and other media, wrote the book Comcasted, and raised six children with his wife, who is a saint.

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