24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

David Stockman Says Fed Policies, Government Debt, Threaten the Future

David Stockman, a director of the Office of Management and Budget in the Reagan administration, said Monday that if people hate their children, they should cheering on the policies being pushed by the Federal Reserve.

“The real economy is failing,” Mr. Stockman said on MSNBC’s “Morning Joe.” “We are in trouble. The Fed is just inflating a third bubble by this zero interest policy and by this insane purchase of $85 billion in government debt a month, telling Washington, ‘Don’t do anything about the deficit, go out, have a party, bury yourself in debt.’”

“The policy today is that if you hate your children, you will love what Washington is doing because they are burying them in debt,” Mr. Stockman said.

Source: Washington Times. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.