Reagan budget director goes off on billionaire's defense of Trump's 'dog's breakfast' plan

Ronald Reagan's budget director over the weekend for roasting a billionaire's defense of Donald Trump's economic plans.

It started with a post by billionaire Bill Ackman, who said, "I think President Trump's goal of reducing credit card interest rates is a worthy and important one."

"My concern about capping rates at 10% is that doing so will inevitably cause millions of Americans to have their cards cancelled as credit card companies lose the ability to adequately price subprime credit risk," he added.