David Stockman: Virus Lockdown Is a ‘Flat-out Fraud on a Massive Scale’

reporter We went to ░░░░░░░░ on David Stockman former ░░░░░░░░ of the Office of ░░░░░░░░ and Budget under President ░░░░░░░░ Reagan Sir thanks for ░░░░░░░░ the time for us ░░░░░░░░ Happy to be with ░░░░░░░░ reporter Coronavirus has exposed ░░░░░░░░ weaknesses in our government ░░░░░░░░ and the federal among ░░░░░░░░ national debt which it ░░░░░░░░ that Congress has ignored ░░░░░░░░ decades How worried a ░░░░░░░░ the will get you ░░░░░░░░ point where America won ░░░░░░░░ be able to pay ░░░░░░░░ interest on our debt ░░░░░░░░ less pay down the ░░░░░░░░ at all STOCKMAN Well ░░░░░░░░ have a news flash ░░░░░░░░ Governor Cuomo and most ░░░░░░░░ Washington We do not ░░░░░░░░ a a rich uncle ░░░░░░░░ Sam We are heading ░░░░░░░░ a disaster fiscally at ░░░░░░░░ speed that is breathtaking ░░░░░░░░ have now passed three ░░░░░░░░ four bills there s ░░░░░░░░ of this additional pending ░░░░░░░░ the state bailouts that ░░░░░░░░ have been talking about ░░░░░░░░ even before that we ░░░░░░░░ going to spend 7 ░░░░░░░░ in this fiscal year ░░░░░░░░ is collapsing and we ░░░░░░░░ get to that in ░░░░░░░░ moment to less than ░░░░░░░░ trillion because of the ░░░░░░░░ of lockdown nation We ░░░░░░░░ going to borrow 4 ░░░░░░░░ this year 19 percentage ░░░░░░░░ that s World War ░░░░░░░░ scale when we were ░░░░░░░░ a global war So ░░░░░░░░ think that we need ░░░░░░░░ understand is that lockdown ░░░░░░░░ is the greatest catastrophe ░░░░░░░░ modern times It is ░░░░░░░░ because we ve allowed ░░░░░░░░ few extreme people and ░░░░░░░░ governors and mayors to ░░░░░░░░ put the entire economy ░░░░░░░░ house arrest by creating ░░░░░░░░ hysteria I would say ░░░░░░░░ the Salem witch trials ░░░░░░░░ of hysteria about the ░░░░░░░░ Now here are the ░░░░░░░░ Number one 95 percent ░░░░░░░░ the population of America ░░░░░░░░ not in harms way ░░░░░░░░ the data that comes ░░░░░░░░ from the CDC or ░░░░░░░░ York State proves that ░░░░░░░░ attacks the elderly it ░░░░░░░░ people with already serious ░░░░░░░░ threatening conditions but it ░░░░░░░░ not an across the ░░░░░░░░ grim reaper that s ░░░░░░░░ take everyone down and ░░░░░░░░ all of us to ░░░░░░░░ in house arrest Here ░░░░░░░░ what the CDC numbers ░░░░░░░░ as of April 18th ░░░░░░░░ the three months that ░░░░░░░░ has been going on ░░░░░░░░ you take the population ░░░░░░░░ 24 that s 103 ░░░░░░░░ people there have only ░░░░░░░░ 35 deaths in all ░░░░░░░░ United States attributable to ░░░░░░░░ Coronavirus You know per ░░░░░░░░ 000 that s a ░░░░░░░░ that I can t ░░░░░░░░ say because it would ░░░░░░░░ too long to put ░░░░░░░░ the zeros By contrast ░░░░░░░░ Yeah I think Mr ░░░░░░░░ no Mr Stockman I ░░░░░░░░ ve made a very ░░░░░░░░ point here So let ░░░░░░░░ examine if you and ░░░░░░░░ can how irresponsible and ░░░░░░░░ public officials have behaved ░░░░░░░░ until this point Because ░░░░░░░░ have squandered the country ░░░░░░░░ well they have squandered ░░░░░░░░ re not behaving responsibly ░░░░░░░░ when we are hit ░░░░░░░░ a crisis it s ░░░░░░░░ For example our Congress ░░░░░░░░ been doing everything it ░░░░░░░░ that is not articulated ░░░░░░░░ the Constitution but the ░░░░░░░░ thing they are directed ░░░░░░░░ do by law is ░░░░░░░░ budget And they re ░░░░░░░░ doing that We haven ░░░░░░░░ done a budget in ░░░░░░░░ country in decades STOCKMAN ░░░░░░░░ I agree with that ░░░░░░░░ had a trillion dollar ░░░░░░░░ going in after 10 ░░░░░░░░ of recovery when we ░░░░░░░░ at the very top ░░░░░░░░ the business cycle You ░░░░░░░░ supposed to balance the ░░░░░░░░ even around a surplus ░░░░░░░░ the deficits have just ░░░░░░░░ accumulating We are now ░░░░░░░░ 24 trillion and we ░░░░░░░░ got another 15 trillion ░░░░░░░░ down the pike in ░░░░░░░░ next four or five ░░░░░░░░ because of what was ░░░░░░░░ in plus all of ░░░░░░░░ massive throwing money at ░░░░░░░░ problem that has been ░░░░░░░░ without even a committee ░░░░░░░░ No committee reports no ░░░░░░░░ no debate It s ░░░░░░░░ money spending like we ░░░░░░░░ never seen before And ░░░░░░░░ s why I think ░░░░░░░░ have to understand the ░░░░░░░░ is not to hand ░░░░░░░░ money to everybody big ░░░░░░░░ small business households the ░░░░░░░░ the employed airlines the ░░░░░░░░ industry Everybody got their ░░░░░░░░ out in Washington We ░░░░░░░░ to open up the ░░░░░░░░ That s the problem ░░░░░░░░ saw today another huge ░░░░░░░░ We ve got 27 ░░░░░░░░ people laid off in ░░░░░░░░ last five weeks That ░░░░░░░░ eight times the worst ░░░░░░░░ weeks at the bottom ░░░░░░░░ the Great Recession So ░░░░░░░░ s not spend money ░░░░░░░░ s not destroy the ░░░░░░░░ basis of our entire ░░░░░░░░ Let s focus on ░░░░░░░░ the problem is that ░░░░░░░░ protecting the elderly and ░░░░░░░░ who already have illnesses ░░░░░░░░ hypertension diabetes and respiratory ░░░░░░░░ and artery and blood ░░░░░░░░ reporter I understand exactly ░░░░░░░░ you re going Mr ░░░░░░░░ Last thing a lot ░░░░░░░░ people out there like ░░░░░░░░ Cuomos of the world ░░░░░░░░ saying All we ve ░░░░░░░░ to do is just ░░░░░░░░ more money and everything ░░░░░░░░ be fine Is that ░░░░░░░░ to make everything fine ░░░░░░░░ No it s going ░░░░░░░░ destroy the system the ░░░░░░░░ is utterly out of ░░░░░░░░ It was already in ░░░░░░░░ last month in like ░░░░░░░░ weeks it s printed ░░░░░░░░ 2 5 trillion of ░░░░░░░░ money right out of ░░░░░░░░ air to buy these ░░░░░░░░ so that everybody in ░░░░░░░░ can pretend that there ░░░░░░░░ a free launch and ░░░░░░░░ we can borrow like ░░░░░░░░ s no tomorrow Well ░░░░░░░░ can t do that ░░░░░░░░ s going to destroy ░░░░░░░░ basis of the entire ░░░░░░░░ system because it s ░░░░░░░░ it s just flat ░░░░░░░░ fraud on a massive ░░░░░░░░ coming out of the ░░░░░░░░ today which is out ░░░░░░░░ the politicians Capitol Hill ░░░░░░░░ that they can spend ░░░░░░░░ borrow and borrow without ░░░░░░░░ consequence.”