The Greatest Budget Story of All Time

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This being Budget Day, I thought I'd post a link to the greatest budget story of all time, "The Education of David Stockman," by William Greider, which, of course, appeared in The Atlantic in December 1981, and is one of my favorite magazine pieces of all time. It's a potent reminder that for all the noise and excitement, budgets are political documents and even the most zealous budget hawks--of which Stockman, Ronald Reagan's first OMB director, undoubtedly was one--eventually smack up against the reality that deep cuts in government are nearly impossible to enact. (And always remember, government didn't shrink under Ronald Reagan--it grew.)

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Joshua Green is a former senior editor at The Atlantic.

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