US credit rating downgraded by Fitch.

The best thing Ronald Reagan ever did...fire David Stockman

Ronald Reagan will always be remembered for many things--Winning the Cold War, bringing back pride in America and calling her the "Shining City on a Hill," comforting a grieving nation following the Challenger disaster--but the BEST thing Reagan ever did was to fire his incompetent budget director, David Stockman.

Stockman thankfully disappeared from public view for a long time after that, but he has since come back with a vengence, spewing forth all this hysterical, nonsensical, crap about the debt and deficits. Every time I see him I literally want to puke. This guy is an absolute moron.

Some of you may remember a run-in I had with Stockman at Fox Business last year. It was very eye-opening, to say the least.

Stockman's been all over the news again lately, saying things like we'd be "better off" if we just jumped off the fiscal cliff, and that we are "living beyond our means" (how's that with 20 mln unemployed?).

Stockman argues, with a straight face, that "thowing the economy into recession," would allow us to "come out with some better fiscal balance on the other side." Nevermind that we've seen this prescription applied in Europe with exactly the opposite consequences.

Stockman is really one dumb jackass, but sadly, there are many "Stockmans" out there in the real world. Let us all acknowledge that Moody's has recently joined that list.