RAZ: David Stockman, let me ask you about the idea of making the Bush tax cuts permanent. Some economic analysts have said that if you do that, that by the year 2020, the government wouldn't have enough money to spend on anything except for Medicare, Social Security and defense - if it's lucky. Do you think that sounds about right?
Mr. STOCKMAN: Yes, I do. We couldn't afford the Bush tax cuts when they were put in, in 2-0-1, 2-0-3. Now, we're - eight years later, we're trillions in additional debt later, we're two unfinanced wars later, we're a trillion dollars of stimulus spending later, 800 billion of TARP. So it's pretty obvious if we couldn't afford them back then, in no way, shape or form can we even dream about affording them now.
RAZ: Do you think President Obama is being honest with the voters?
Mr. STOCKMAN: No, I don't think he is at all. I think when he said no taxes on the middle-class or on anyone below 250,000, he was being totally disingenuous. That's most of the people in the country. Sure, there...
RAZ: You're saying he has to raise their taxes as well?
Mr. STOCKMAN: Sure, absolutely. He should tell them, we're going to raise all your taxes because that's the only way we can support all these programs that I want to keep. He's for, you know, everything we have in the budget today. And a lot of it is meritorious, and a lot of isn't. How this president, who ran on the ticket that I, you know - change you can believe in; I'm going to tell you -tell it to you like it is, can possibly take that no-tax pledge, and then support all of this spending and all of this stimulus, just doesn't add up.