Dear Reader, What follows is a Raw Story interview with David Stockman, who was President Reagan's Budget Director in the 1980's. What he said in this interview is disturbing but it is offered to keep you informed on the perspective of someone well respected for his knowledge of the financial impact of government actions.
Exclusive: America has ‘reached the point of no return,’ Reagan budget director warns
http://www.rawstory.com/rs/2011/01/america-has-reached-the-point-of-no-return-reagan-budget-director-warns/
The Obama administration's $78 billion cut to US defense spending is a mere "pin-prick" to a behemoth military-industrial complex that must drastically shrink for the good of the republic, a former Reagan administration budget director recently told Raw Story.
"It amounts to a failed opportunity to recognize that we are now at a historical inflection point at which the time has arrived for a classic post-war demobilization of the entire military establishment," David Stockman said in an exclusive interview.
"The Cold War is long over," he continued. "The wars of occupation are almost over and were complete failures -- Afghanistan and Iraq. The American empire is done. There are no real seriously armed enemies left in the world that can possibly justify an $800 billion national defense and security establishment, including Homeland Security."
Short of that, he suggested, the United States has "reached the point of no return" with its artificial creation of wealth, and will eventually face a sharp economic decline. (continued at link)
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