Frontpage Interview’s guest today is Dick Morris, who heads DickMorris.com and is the co-author (with Eileen McGann) of the new book Catastrophe.
FP: Dick Morris, welcome to Frontpage Interview.
What inspired you to write this book?
Morris: Worry, concern, fear, anger, frustration and a few similar emotions.
I think that President Obama is taking America down a very dangerous road which will fundamentally change us in negative ways. My gripes with his policies kept piling up -- the deficit, the increased spending, the borrowing, the takeovers of car companies, the bank nationalization -- in effect, his health proposals, immigration changes, muzzling talk radio. Finally, they boiled over into a book.
FP: How radical is Obama’s political agenda and what are the consequences if he fully implements it?
Morris: He will divide America into two classes: the tax eaters and the taxpayers. The former group will be about 60% of the nation that realizes a net profit on their dealings with the IRS. April 15th is a great day on their calendars. The latter group will be about 20% that pays all the taxes. With this arithmetic, he can raise taxes with political impunity.
But the most dramatic consequences are economic. The budget deficit is so big and the borrowing so immense that it will send interest rates way up, deepening the recession and prolonging it. Then, when times improve, we will face mega-inflation as all the money the fed has been printing comes out of hiding and floods the marketplace all at once and as doubts about the currency multiply, impelled by the expansion of the money supply
And then there is health care. He will ask 800,000 doctors in the U.S. to treat 300 million people as opposed to 250 million who are now insured. But there won't be any more doctors. In fact, with fee restrictions, there will be fewer. That means that less care will have to suffice for more people. The result will be rationing as in Canada. There, the cancer death rate is 16% higher than in the U.S. because of this rationing of medical care. It takes an eight week wait to get radiation therapy for cancer.
FP: You predicted a lot of the ingredients of the present catastrophe and the looming catastrophes didn’t you?
Morris: Yes, in Fleeced, written in Feb of 2008, we predicted the stock market crash of the fall of that year and in Outrage, our previous book, written in Feb of 2007, we predicted the implosion of Fannie Mae.
FP: What can ordinary people do to stop the implementation of this agenda?
Morris: In each chapter of the book, we have an action agenda listing specific steps people can take to fight back. We give the names of the key congressmen to pressure, the places to send money, the arguments to use in convincing your neighbors. Particularly on health care, we need to stop the Obama agenda now.
FP: Can you talk a bit about Obama’s foreign policy so far? Your thoughts on how he is handling the war on terror, Israel, Iran and North Korea?
Morris: The fruits of appeasement are that rogue nations think they can get away with thumbing their noses at the US and they are correct. Here's what Obama should do in Iran: 40% of Iran's gasoline has to be imported because it lacks refinery capacity. The US Export Import Bank, funded by the taxpayers, gave a $500 million loan guarantee to Reliance Industries, an Indian firm, to expand the refinery that sells Iran 3/4 of its imported gasoline. We need to cut off that funding. Congressman Sherman (D-CA) and Kirk (R-Ill) are proposing an amendment to do so that just passed the House Appropriations Subcommittee. Obama should support it immediately.
FP: Who are some people surrounding Obama who frighten you and who no President should be listening to?
Morris: Eric Holder, the Atorney General, who pushed the FALN pardon of the Puerto Rican terrorists who committed hundreds of bombings and who pushed a pardon for Marc Rich. He is opposed to any aggressive strategy against terrorists and is a real danger to the nation.
FP: Is Obama just naïve? Or does he have some malicious intent with these plans of his? Does he really not perceive the destructive consequences of what he is doing?
Morris: He never believed that the stimulus spending was the way to solve the recession. He used the recession to pass the spending he wanted to do anyway in the stimulus package.
FP: Dick Morris, thank you for joining Frontpage Interview.