David Stockman: Infrastructure spending is another excuse for deficit spending (video)

David Stockman, former Reagan budget director and bestselling author of “The Great Deformation,” appeared on CNBC earlier this week to discuss the federal government’s infrastructure spending initiative. However, Stockman believes that the calls for infrastructure spending is just another veiled disguise for deficit spending. The U.S. is already spending $150 billion more a year on highways and roads, says Stockman. In other words, another failed scheme for the government.