Not too surprising here that David Stockman is coming out against the Obama tax plan, since he split with former boss Ronald Reagan over tax cuts to the rich.
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But he makes an important point in this interview with the WSJ. Tax cuts are part of a supply-side economic model, but deficit-financed tax cuts are not: "There's no free lunch, and we're kidding ourselves if we think we can borrow more money in order to have a short term stimulus. This is straight out of Keynes, and i'm shocked that Republicans think it is good policy."
