Submitted by: Francis Soyer 5/24/11
Who is David Stockman? He is the former budget director for Ronald Reagan, affiliated with neither party and has seen and predicted the current fiscal mess that exists years ago and has been more vocal lately as we approach financial Armageddon.
He has some salient points listed below in addition to the very basic fact that the U.S. Treasury has to borrow $6 Billion per day just to prevent checks from bouncing. Video below
"I don't have any hope they'll come to a substantive agreement on the big things that need to be done because both parties have ruled off the table the essential things that are necessary.”
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