David Stockman, Reagan's nerdy economics czar, sees Obama folding like a lawn chair if a shutdown comes

At this point I am losing interest in the Battle of the Budget, which soon may rival the Battle of the Bulge (WWII variety, not The Biggest Loser) in the annals of war.

This budget process is stretching out longer than the last two minutes of an NBA playoff game. When these talks first started, the Tea Party was just starting to act revolutionary at Boston Harbor.

And if the federal government, or at least the non-essential(?) portion of it, shuts down at midnight, it will make David Stockman’s day.

You remember Stockman, Ronald Reagan’s supply-side, trickle-down economics guru.

Stockman, who later soured on the supply-side formula as if it suddenly turned into a lemon (which it did), got smarter when he left government and made millions as an investment banker. Of course, don’t they all?
“Bring it on,” Stockman this morning said about a possible shutdown. “I think the Republicans need to stand rigidly firm and shut the government down for a few days. The Obama White House is weak. If the Republicans hold the line, Obama will fold faster than a lawn chair. And the Republicans will get their $60 billion in reductions.”
Stockman claims a shutdown, or more accurately a slowdown, would be a wakeup call more attention-getting than suddenly finding a bloody horse head in your bed.
Hopefully Stockman isn’t Nostradamus because he’s not exactly wearing rose-colored glasses when he looks at the future.
He predicts a long and agonizing epoch in which incomes will fall, the economy will stall and reality’s bite will leave painful tooth marks.
Actually, I think the future is now. Just ask my wallet.

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