Dick Morris book ‘Revolt’ fills much needed gaps. These gaps include (1) how to best cut federal spending and a (2) well thought out plan to defeat the Socialists in the White House and many in Congress.
Dick completes an extensive analysis and methodically concludes we can cut spending without touching entitlements at least over the next two years. I was skeptical of this proposition before reading the book but am now convinced. We must rescind the incredible increase in non discretionary domestic and welfare spending, along with cuts in defense and highway construction products, and also repeal the section of ObamaCare that mandates new Medicaid coverage. These measures will decrease our annual debt to 3% of GDP in 2014 down from our current 10%.
Defeat the Socialists
Republicans and Conservatives in Congress must persevere and stick with their principles. The American public is ready for substantial cuts as long as they are not entitlements for now. Dick encourages Republicans to attach spending cuts to as many phases of debt ceiling votes as possible and not compromise.
Other parts of the book provide great details for anyone to utilize in debating Cap and Trade, ObamaCare, Card Check for Labor, and ObamaCare.
This book well supplements others that address the danger of our debt such as Damon Vickers book – The Day after the US Dollar Collapses. In the context of these other books one of my takeaways is that we still have time to prevent a US Dollar collapse, but the window of opportunity is quickly closing. 2010 world economy was $62 Trillion; world capital stood at $58 Trillion. Total US public debt that includes unfunded long term and promised liabilities equals $130 Trillion with indications that our liabilities may continue to grow much more rapidly than the world economy and world capital. Ultimately the world will either lose confidence in financing our debt or simply run out of capital even if they wanted to finance our debt. Write to our Socialists in Washington DC and ask them to re learn simple math let alone Economics 101.
Dick only briefly refers to our antiquated tax system and offers no real solutions but that would call for a longer book or another book. Our cumbersome tax code benefits many special interests with little positive effect on economic growth. For tax solutions refer to my blog site — https://economics501.wordpress.com/2011/01/22/a-progressive-negative-income-tax/ . It provides info pertaining to how the Fair Tax, now in Congress as HR 25 can stimulate our economy and therefore reduce our deficit.
I could not put the book down once I started. Five stars out of five for Dick.
March 13, 2011