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Reagan and the OMB Outtake (w/ David Stockman) Outtake | Grant Williams | Real Vision™

4,596 views · Published 14 May 2018 · 9:40 · Indexed 26 October 2026

Channel: Real Vision Presents · 2018 · News & Politics

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David Stockman has been at the nexus of money and politics for over 40 years. In this clip, David describes how he got the job as Director of OMB under Ronald Reagan and details what it was like working for the man himself.

This conversation didn't make it into the final cut of his recent Real Vision interview, so you'll sure as hell want to see what did. Watch the Grant Williams In Conversation With... series on Real Vision: https://rvtv.io/2HBtGy6
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David Stockman On Reagan and the OMB (w/ David Stockman) Outtake | Grant Williams | Real Vision™
https://www.youtube.com/c/RealVisionTelevision

Transcript: 
For the latest in my new series of conversations, I traveled to New York to spend some time with David Stockman and, as always seems to be the case, there was simply too much fascinating insight and too little time. Somehow the amazing story of how David became Ronald Reagan's Director of Office of Management and Budget didn't make it into the final edit but it was just too good a story not to share.
How do you go about making a difference, or trying to make a difference, because that's gotta be a really hard thing for a young guy in an old man's world to try and do? Well yeah, that's right, and normally a freshman congressman would be told to sit in the back bench, keep quiet and give a speech every three months and don't make it too long. But there was a group of us, let's call it renegades, led by Jack Kemp. Who was, you know, a quite powerful guy. Brilliant order had a lot of charisma, and so a bunch of us became kinda disciples, part of his little group. So Jack Kemp became you know a powerful advocate of tax reductions, smaller government free enterprise, really you know, free trade, free enterprise, and the gold standard. Sound money, we called it sound money because by then people had forgotten what gold was and so that became our core ideology, sound money, low taxes, small government, unleash free enterprise, you know, a rising tide lifts all boats, you know, we had some great speeches Jack and I went all around the country giving these speeches but Jack was able to insinuate himself into the Reagan campaign and get some of his close advisors involved, and Reagan was taken with it. And what did Reagan look like to you guys at that time? Because we'll get on to the parallels with today a little later on but what did that look like? Because that must have looked unrecognizable and yet people like Jack kind of galvanized around Ronald Reagan, what did that feel like? I think partly it was opportunism, now I was still an unreformed pacifist, or not quite, but I wasn't buying the whole evil empire thing and so his foreign policy rhetoric didn't get very far with me, But he had been a long time, you know, champion of free markets and small government and balanced budgets and all the things that by then I had become a vehement advocate of and so when it became clear that he was willing to adopt large chunks of our programme, you know, we all got on board, but you know it was, it was the summer of 1980, spring and summer of 1980. I mean it really was that late when he kind of, again, came out of nowhere really. Well, no-one expected that he would win the primaries and one by one... John Connally raised all the money remember and he got one vote, he raised like $70 million and got one delegate, and then, of course, the next expectation was that George Bush Senior, who was the establishment, Eastern establishment, a favourite if you want to use that, would get it and Reagan beat him in a couple of primaries and you know the rest was history. And then everything really got re-organized around Reagan and this Jack Kemp crowd of young Turks, which then scared the hell out of the Republican establishment on Capital Hill. Howard Baker who was the Senate Republican leader, Bob Michael and the house, Bob Dole, Senator Domenici and all these guys.

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