Word: stockmanisms
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...David Stockman has never been much of a team player. As director of the White House Office of Management and Budget in 1981, he was taken "to the woodshed" by the President for publicly criticizing Reaganomics. Stockman admitted that he cooked the figures in the budgets he sent to Congress; his skill with numbers landed him a six-figure job as a managing director at Salomon Brothers, a Wall Street investment house...
Under Reagan's presidency, fewer dollars headed toward the hungry and homeless. More found their way to the overstocked and the overindulged. A recently-released report by the Congressional Budget Committee admitted as much. Former Reagan Budget Director David Stockman said some time ago that this outcome was no accident...
...White House and a business, formulated policy and fought wars, and he wanted to run Reagan's foreign policy without interference. But his aggressive manner alienated Reagan's laid-back Californians. David Stockman called him a "bully." The ruling troika of James Baker, Edwin Meese and Michael Deaver, which Haig later took to calling the "three-headed hydra- monster," never trusted him. Haig hotly denies that his disputes with the White House staff were based on personality. "My problems were substantive from day one." After several threats of resignation, Haig's offer was accepted by Reagan in June...
...economy stand at a turning point, the timing could hardly be better for the appearance of Secrets of the Temple: How the Federal Reserve Runs the Country (Simon & Schuster; 798 pages; $24.95) by William Greider, the national editor of Rolling Stone magazine. Greider, whose 1981 Atlantic article revealed David Stockman's secret doubts about Reaganomics and caused the President to take his young budget director "to the woodshed," is once again at his provocative best. The book, which takes its name from the fact that in ancient times the creation of money often occurred in temples, is a lucid...
...eventually gave the President virtually everything he wanted. In the end, the Economic Recovery Tax Act slashed personal-income tax rates 23% over three years. Reaganomics was supposed to produce a budget surplus of $500 million by 1984, but one of the Administration's master strategists, Budget Director David Stockman, knew better. "None of us really understands what's going on with all these numbers," he confessed in a December 1981 magazine article that rocked the White House. "People are getting from A to B, and it's not clear how they are getting there...