Jump to 1:15. "Here we are today $22 trillion and it's actually objectively this is the important thing built in $40 trillion by the end of this 10-year cycle unless we do something to change fundamental policy".
He also says: "For about three decades now the President’s budget of both parties has been pronounced DOA (dead on arrival) no sooner than the ink was dry. And that is commentary enough about why $1 trillion of public debt in 1981 has become $23 trillion by 2020, will hit $43 trillion by 2030". (Source: https://www.davidstockmanscontracorner.com/proof-of-fiscal-doom-the-donalds-fake-budget-for-fy-2021-and-the-ugly-hand-of-the-money-printers-part-1/)
I don't know where he is getting his numbers and I would like to see details. My calculations, based on CBO projections show $32 trillion of public debt by 2030. If you add in another $7 trillion of intragovernmental debt you get to $39 trillion, which is close. If you go another 10 years to 2040 then the debt will almost double again to $60 trillion.
I would like to hear more from David Stockman.
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