Stockman: U.S. has been living beyond its means for 30 years

Neil Cavuto, Fox Business, Released on 5/25/16

“We have been living beyond our means for 30 years. It’s only a matter of time. People said that in 2007. ‘Don’t worry. They’ll muddle through. Remember Goldilocks.’ And then wham, the bottom fell out, the meltdown happened, the panic was on.”

*This interview was recorded last Wednesday (May 25th)

David Stockman is a former Republican congressman from Michigan and was President Reagan’s budget director from 1981 to 1985. After leaving the White House, Stockman became a managing director at Salomon Brothers, and he later founded a private equity fund. David is the founder of David Stockman’s Contra Corner, and he is the author, most recently, of The Great Deformation: The Corruption of Capitalism in America.

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