The Ryan plan isn't a budget. It's the last will and testament of the Republican party.
David StockmanIf the stock market does go through a crisis of confidence, which I think clearly will happen one of these days, no one can predict just like you couldn't the dot com crash or the Lehman crash, but when it goes down it will go down by thousands of points because everyone will panic. No one owns this market today because they believe there's a huge sunny future for the United States economy. They're buying because they think the Fed can keep the thing pumped up, the bubble expanding.
David StockmanOne thing is certain. At some point global investors will lose confidence in our (U.S.) easy dollars and debt-financed prosperity, and then the chickens will come home to roost.
David StockmanIn short, Mr. Ryanโs plan is devoid of credible math or hard policy choices. And it couldnโt pass even if Republicans were to take the presidency and both houses of Congress. Mr. Romney and Mr. Ryan have no plan to take on Wall Street, the Fed, the military-industrial complex, social insurance or the nationโs fiscal calamity and no plan to revive capitalist prosperity - just empty sermons.
David Stockman