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.”

Gritin Under Cabinet Lighting- 84 LED Super Bright,3-Color & 5-Brightness,4 Modes,Motion Sensor, Rechargeable 1800mAh Long Lasting-Easy Installation Strong Magnetic Under Cabinet Closet Lights -2 Pack

(4851118)

$14.99 (as of June 1, 2025 17:32 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.)

Nespresso Capsules Vertuo, Variety Pack, Medium and Dark Roast Coffee, 30 Count Coffee Pods, Brews 7.8 oz.

(485120852)

$42.00 (as of June 2, 2025 05:29 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.)

OFEEFAN Womens Tops 3/4 Sleeve with Buttons Dressy Casual Blouses Summer Outfits Beach Vacation Plus Size Spring Clothes

(445126)

$14.99 (as of June 1, 2025 17:32 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.)

ZELUS Weighted Vest, 6lb/8lb/12lb/16lb/20lb/25lb/30lb Weight Vest with Reflective Stripe for Workout, Strength Training, Running, Fitness, Muscle Building, Weight Loss, Weightlifting

(4358581)

$36.99 (as of June 2, 2025 05:29 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.)

essence | Lash Princess False Lash Effect Mascara | Volumizing & Lengthening | Cruelty Free & Paraben Free

(435390587)

$4.99 (as of June 2, 2025 05:29 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.)

Meta Quest 3S 128GB Renewed — Dive into Mixed Reality — Unreal Experiences — All-in-One Headset

(5053)

$269.99 (as of June 1, 2025 17:32 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.)

Something Beautiful

(5056)

$11.96 (as of June 1, 2025 17:32 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.)

Geometry Dash

(43523849)

$2.99 (as of June 2, 2025 05:29 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.)

Sparkling Ice, Black Raspberry Sparkling Water, Zero Sugar Flavored Water, with Vitamins and Antioxidants, Low Calorie Beverage, 17 fl oz Bottles (Pack of 12)

(465102853)

$10.98 (as of June 2, 2025 05:29 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.)

Mighty Patch™ Original patch from Hero Cosmetics - Hydrocolloid Acne Pimple Patch for Covering Zits and Blemishes in Face and Skin, Vegan-friendly and Not Tested on Animals (36 Count)

(465173760)

$12.99 (as of June 2, 2025 05:29 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.)