From the horse's mouth

Ronald Reagen's one-time budget director, David Stockman, has weighed in on the Paul Ryan budget plan in an op-ed in the New York Times (Aug 14).

“Mr. Ryan’s sonorous campaign rhetoric about shrinking Big Government and giving tax cuts to 'job creators' (read: the top 2 percent) will do nothing to reverse the nation’s economic decline and arrest its fiscal collapse. . . .  Mr. Ryan’s plan is devoid of credible math or hard policy choices.”

According to the Huffington Post business page, after Stockman's years in government service he made a killing in corporate buyouts (sounds just like the Bain Capital plan).  But apparently he later had a change of heart -- and now does not own any stocks personally.

He continues in his op-ed:

"Forget about 'too big to fail.'  These banks are too big to exist — too big to manage internally and to regulate externally. They need to be broken up by regulatory decree. Instead, the Romney-Ryan ticket attacks the pointless Dodd-Frank regulatory overhaul, when what’s needed is a restoration of Glass-Steagall, the Depression-era legislation that separated commercial and investment banking."

So there you have it from the horse's mouth.  Or at least a former White House budget director under a Republican president -- the hero of the supply-siders.

Ralph