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News Story Source: zerohedge.com by Tyler Durden
"I don't know what the stock market is thinking but if they have faith in a giant fiscal stimulus and tax cut then it's a delusional faith that's going to be badly disappointed and I think fairly soon," rages the former director of the Office of Management and Budget under President Reagan, during a recent interview with CNBC.
Stockman said that "Wall Street is totally misreading Washington," and President Trump's promises of tax reform will be "dead before arrival."
The president is "essentially a 70-year old kid in a candy store who wants one of everything: More for defense, veterans, border walls, law enforcement, infrastructure and 'phenomenal' tax cuts, too—without the inconvenience of paying for any of it," said Stockman.
Of the proposed tax bill announced this week, he said, "It's a wonderful fantasy…but there's no way to pay for the $7.5 trillion cost of the main features."
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