Dick Morris ‘Revolt’ Book Review *****


 

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.

 

Cut spending

 

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.

 

Economics501

March 13, 2011

 

 

 

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About economics501

1 - free market Capitalist; 2 - Fitness Entrepreneur; 56 years old, VP at an Investment Bank in NYC, ex Venture Capitalist, happily married with 2 girls. Education: Rutgers and NYU. I allow Ted Hruzd, my friend to blog at will here. He has many posts here. I have known Ted since we were both students at NYU. Ted also works for an Investment Bank as a VP in Equity Global Markets. ------------------------- I was very very Socialist leaning as a 22 year old. I then strongly believed in Gov role in helping the poor. However, as a USDA Child Nutrition Programs, I personally accounted for millions of fraud, abuse, and waste of tax payer money. I came to believe that the poor would be best served with less Gov programs and more with direct aid via tax system. Then after 5 years I became a free market capitalist, was a venture capitalist in 2007 and helped start 2 high tech companies. I dedicate this site to champion free market capitalism as the best road to Prosperity. Please join in. If you disagree, fine, but please post with dignity and class and be civil. Argue with facts always.
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