Word: stockmans
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...resignation, to take effect at the end of this month, was not unexpected. Indeed, the real surprise may be not that Stockman left but that he lasted so long. Particularly after his rival Donald Regan became White House chief of staff last January, Stockman's days were numbered. Yet unfortunately for the White House, the announcement coincided with the climax of negotiations on the budget for fiscal 1986. "The timing was very awkward," said one official. "It added a complication at a very delicate moment." It came during a week in which Reagan threw in the towel on restraining middle...
...With Stockman's departure the President is losing the man most responsible for translating into reality his vision of a shrunken domestic role for the Federal Government and the last powerful crusader for drastic measures to reduce the deficit. Stockman combined an instinctive feel for fiscal policy, an unmatched understanding of budgetary fine print and a sharp sense of legislative tactics. His gutsy advocacy of severe cuts in politically sacred programs, ranging from school lunches to farm subsidies to military pensions, was often labeled draconian and infuriated members of both parties. Also unsettling, particularly to the President, was the blunt...
...time and again Stockman's mastery of his job compensated for the controversy he caused, and the announcement of his departure was the cue for a bipartisan chorus of praise. "He was the only one who really knew the numbers," said Congressman Tony Coelho, a California Democrat. New Mexico Republican Pete Domenici, chairman of the Senate Budget Committee, called him "the most effective OMB Director we've ever had."[*] Even the Washington Post's editorialists, often critical of Stockman's cuts, commended him "for a kind of intellectual and moral integrity that is rarely found in national public life." Stockman...
...cruel irony of Stockman's term in office is that the Budget Director who, perhaps more than any other, wanted to scale down the Government is leaving behind the biggest deficit in U.S. history. Stockman has seen the deficit grow from $58 billion in 1981 to considerably more than $200 billion this year. Although some economists say that the importance of the deficit figure is overrated, most express a real concern that it now equals approximately 5.5% of the gross national product, up from 2% in 1981. The debt racked up by the budgets Stockman has overseen equals that accumulated...
...Despite Stockman's public support of Reaganomics, in private he doubted that the President's edicts forbidding new taxes or cuts in military spending and his political timidity in tackling Social Security left room for a responsible fiscal policy. Those doubts first surfaced in the Atlantic in December 1981, when Stockman denigrated the supply-side faith that tax cuts could increase Government revenues through added growth...