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Stockman: Bush Tax Cuts Will Make U.S. Bankrupt

As director of the Office of Management and Budget under Ronald Reagan, David Stockman knows a thing or two about trying to balance the national budget. And he's convinced that Reagan would never support extending the Bush tax cuts of today. Stockman, who still considers himself a staunch conservative and a staunch Republican, tells host Guy Raz why he thinks extending those tax cuts would be akin to a bankruptcy filing by Congress and the White House.

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