David Stockman: Get Ready for a Fiscal Bloodbath; Trump is Clueless

Former Reagan Budget Director David Stockman has issued a dire warning about President Trump and the battle over the nation’s $20 trillion debt ceiling.

“We are heading into an absolute fiscal bloodbath,” he told the FOX Business Network’s Maria Bartiromo.

The Congressional Budget Office on Tuesday projected the federal deficit to decline in 2017 to $559 billion, but warned if current laws are not changed, it could then could rise to historic levels over the next decade.

In Stockman’s opinion, Trump’s fiscal plan doesn’t add up.

“I think he’s clueless about the fiscal mess he’s inherited,” he said. “What I’m saying is, he’s going to increase everything, cut none of the entitlements, and argue that he’s going to reduce taxes and add a trillion of infrastructure as well.”