Wednesday, December 18, 2013

David Stockman: ObamaCare Is A Doomsday Machine

I don't like Stockman's increasing revenue talk, but he does make clear how government spending is going to be an escalating problem.


  1. I think that Stockman's comments about raising revenue to fund all of this huge government is to just put it back to the people who want all of this huge government. Like that recent Peter Schiff video where he asked the Wal-Mart shoppers to contribute 15% of what they had just purchased to the Wal-Mart workers; and everyone declined. Everyone wants something for nothing.

    And to pay for all of this govt., taxing the rich does not suffice. The middle class has to pay. That is where the $$$ is.

    I think that is Stockman's point. Do not just raise taxes on the rich, raise taxes on everyone to pay for all of this. And then, I bet a lot of people will not want that much government, anymore.

  2. Stockman has always supported increasing taxes to pay for spending even though he is opposed to the spending.

    Not exactly libertarian but it would force the pain to coincide with the alleged joy of spending.

  3. so are fugazy derivatives..........

    CFTC Misreporting Size of Swaps Market, Agency Says Technical Errors in Data Resulted in Undercounting of Swaps Market

    The CFTC said in a footnote to its weekly swaps report that the largest data repository, the Depository Trust & Clearing Corp., "has informed us that due to a…technical coding issue, the notional values in the interest rate asset class have been understated." The agency also reported "a processing error" by a separate repository operated by CME Group Inc. A CME spokeswoman didn't respond to a request for comment. A CFTC official characterized the data problems as "growing pains." The agency formally began to report swaps data on a weekly basis just last month.