To paraphrase a famous Democrat, "It's the Federal Debt Stupid."  On this issue, the Tea Party probably can win.  And, now a knowledgeable Washington insider is on their side. When he took office, President Reagan promoted a young Michigan congressman, considered a federal budget whiz kid at the time, to head the Office of Management and Budget.  David Stockman was convinced that federal spending had to be reduced.  I can still recall a famous headline at the time likening him to the Grim Reaper:   "The Stockman Cometh." Now he's arguing in an interview at Yahoo Finance that the President can indeed prioritize Federal spending so that the debt limit does not  have to be mindlessly raised. He tells The Daily Ticker the real story is the debt ceiling, and he thinks we're "finally getting to a defining moment when the truth comes out...if we run out of debt ceiling, the president does have the power to prioritize the inflow of revenue which is...(Read Full Post)