History of David Stockman in Timeline

David Stockman is an American politician and former businessman notable for his role in Republican politics. He served as a U.S. Representative for Michigan from 1977 to 1981. His most prominent position was as Director of the Office of Management and Budget under President Ronald Reagan from 1981 to 1985, where he played a key role in shaping Reagan's economic policies. Since leaving government, Stockman has been a vocal commentator on economic and political issues, often critical of mainstream policies and government spending.

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Full Timeline Career & Achievements

November 10, 1946: David Stockman Born

On November 10, 1946, David Alan Stockman was born in Fort Hood, Texas. He later became a Republican U.S. Representative from Michigan and the Director of the Office of Management and Budget under President Ronald Reagan.

Others born on this day/year

1964: Graduation from Lakeshore High School

In 1964, David Stockman graduated from Lakeshore High School in Stevensville, Michigan.

1968: BA in History from Michigan State University

In 1968, David Stockman received a BA in History from Michigan State University.

1969: Left Harvard University

David Stockman left Harvard University after 1969, where he had been a graduate theology student since 1968.

1970: Special Assistant

In 1970, David Stockman served as special assistant to United States Representative and 1980 U.S. presidential candidate John Anderson of Illinois.

1972: Executive Director

In 1972, David Stockman became the executive director, United States House of Representatives Republican Conference

1975: End of Role

In 1975, David Stockman's role as the executive director, United States House of Representatives Republican Conference ended.

1976: Election to the House of Representatives

In 1976, David Stockman was elected to the House of Representatives for the 95th Congress, representing Michigan's 4th congressional district.

January 3, 1977: Service in the House of Representatives

On January 3, 1977, David Stockman began serving in the House of Representatives for Michigan's 4th congressional district.

1977: U.S. Representative

In 1977, David Stockman became the U.S. Representative from the state of Michigan.

September 30, 1980: End of Carter's Last Fiscal Year

Jimmy Carter's last fiscal year budget ended on September 30, 1980, with a $79.0 billion deficit and a national debt of $907.7 billion.

1980: John Anderson's Presidential Campaign

In 1980, John Anderson ran for U.S. president, and David Stockman previously served as his special assistant from 1970 to 1972.

January 21, 1981: Resignation from the House of Representatives

On January 21, 1981, David Stockman resigned from the House of Representatives to become Director of the Office of Management and Budget.

September 30, 1981: National Debt

On September 30, 1981, the gross federal national debt was $998 billion.

October 1, 1981: Start of Fiscal Year and Rising National Debt

On October 1, 1981, the gross federal national debt had almost reached $1.0 trillion at the start of David Stockman's and Ronald Reagan's first year in office.

October 1981: National Debt Exceeds $1 Trillion

During October 1981, the gross federal national debt increased to $1.0 trillion.

December 1981: Publication of "The Education of David Stockman"

In December 1981, The Atlantic Monthly published "The Education of David Stockman", an article based on interviews with David Stockman, which weakened his influence within the Reagan Administration.

1981: Director of the Office of Management and Budget

In 1981, David Stockman became the Director of the Office of Management and Budget under President Ronald Reagan.

1981: Samuel S. Beard Award

In 1981, David Stockman received the Samuel S. Beard Award for Greatest Public Service by an Individual 35 Years or Under.

1981: Stockman's View on Reagan's Tax Act

In 1981, David Stockman referred to Reagan's tax act as a "Trojan horse" to lower the top tax rate, characterizing supply-side economics as "trickle-down" theory.

1981: Start of OMB Work

In 1981, David Stockman started his OMB work.

August 1, 1985: Resignation from OMB

On August 1, 1985, David Stockman resigned from the Office of Management and Budget, later writing a memoir criticizing the failure to reduce government spending.

August 1985: Resignation from OMB

David Stockman resigned from OMB during August 1985.

September 30, 1985: Federal Debt

By September 30, 1985, the federal debt was $1.8 trillion.

1985: Resignation from the Office of Management and Budget

In 1985, David Stockman resigned as Director of the Office of Management and Budget.

September 30, 1986: National Debt Increase

By the end of the fiscal year on September 30, 1986, the national debt had risen to $2.1 trillion, following budget negotiations led by Stockman during his tenure at the OMB from 1981 until August 1985.

1999: Resignation from Blackstone

In 1999, David Stockman resigned from Blackstone to start his own private equity fund company, Heartland Industrial Partners, L.P., in Greenwich, Connecticut.

August 2003: CEO of Collins & Aikman Corporation

In August 2003, David Stockman became CEO of Collins & Aikman Corporation.

May 17, 2005: Collins & Aikman Bankruptcy Filing

On May 17, 2005, Collins & Aikman filed for bankruptcy under Chapter 11, days after David Stockman was ousted as CEO.

2005: Bankruptcy Filing

In 2005, Collins & Aikman, one of Heartland's major investments, filed for bankruptcy.

2006: Sale of Metaldyne

In 2006, Heartland sold Metaldyne to Asahi Tec Corp., resulting in a significant loss of equity for Heartland.

March 26, 2007: Indictment of David Stockman

On March 26, 2007, federal prosecutors indicted David Stockman for allegedly defrauding Collins & Aikman's investors. The SEC also brought civil charges against him.