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America’s Fiscal Doomsday Machine Must Be Stopped

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America’s Fiscal Doomsday Machine Must Be Stopped
The cover of David Stockman's new book, “How to Cut $2 Trillion: A Blueprint From Ronald Reagan’s Budget Cutter to Musk, Ramaswamy and the DOGE Team.” Brownstone Institute
David Stockman
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The following is Chapter One of David Stockman’s latest book, “How to Cut $2 Trillion: A Blueprint From Ronald Reagan’s Budget Cutter to Musk, Ramaswamy and the DOGE Team.”

The DOGE $2 trillion budget savings goal is crucial to the very future of constitutional democracy and capitalist prosperity in America. In fact, the soaring public debt is now so out of control that the federal budget threatens to become a self-fueling financial doomsday machine.

David Stockman
David Stockman
Author
David Stockman is senior fellow of Brownstone Institute. His career in Washington began in 1970, when he served as a special assistant to U.S. Representative, John Anderson of Illinois. From 1972 to 1975, he was executive director of the U.S. House of Representatives Republican Conference. Stockman was elected as a Michigan Congressman in 1976 and held the position until his resignation in January 1981. He then became Director of the Office of Management and Budget under President Ronald Reagan, serving from 1981 until August 1985. After leaving government, Stockman joined Wall Street investment bank Salomon Bros. He later became one of the original partners at New York-based private equity firm, The Blackstone Group. Stockman left Blackstone in 1999 to start his own private equity fund based in Greenwich, Connecticut. He is the author of many books on politics, finance, and economics. He runs the subscription-based analytics site ContraCorner.