David Stockman: Prepare for Fiscal Bloodbath, Not Fiscal Stimulus

``"The point I am making is, we don't have an open runway. We don't have a clean balance sheet to try some huge experiment along with an unfunded tax increase that will drive us deeper. Why? There is $800 billion in new borrowing this year alone. That is built in before one dime of Trump reform, infrastructure, etc takes place. It is $10 or $12 trillion over the next decade."''