Dick Morris: Obama Ignores Skyrocketing Deficit

Monday, 01 Feb 2010 08:33 PM

By Dave Eberhart

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Political guru and regular Newsmax contributor Dick Morris tells Newsmax.TV that President Barack Obama is engaging in some clever sleight of hand when he owns up to but a small portion of the skyrocketing deficit.

While Obama recently admonished the GOP leadership during a retreat that the country could not continue on with reckless spending without severe consequences, critics suggest that, ironically, his new budget doubles the deficit in 5 years and triples it in ten years.

Morris argues that the President is making no significant effort to hold the line on spending. “He’s making an effort to talk about it, because he knows that is an important Republican issue. He’s also attempting another trick, and I just wanted to alert Newsmax viewers to it.”

See Video: Dick Morris blasts Obama’s new budget and spending plans - Click Here Now

The pundit noted that Obama now claims that when he walked in the door, he faced a deficit of $1.3 trillion, which under the strain of the recession has grown to $1.4 trillion, and which under his budget will grow to $1.6 trillion – as if he is only responsible for a small part of the crisis.

Morris gives some background to fault the Obama math, noting that when President George W. Bush was nearing the end of his presidency, he had a deficit of $485 billion in 2008. When the fiscal crisis hit, Bush declared that he was going to put $700 billion into the TARP program and lend it to banks. “This added to a $600 billion deficit -- the amount the deficit had grown by the end of his term.”

And here is where the Obama math goes sour.

Over the course of time, $500 billion of that TARP money was paid back. “So the deficit should have fallen down to $800 billion, Morris explains. “But what Obama did was -- instead of refunding that money -- he spent it on the stimulus package, which is never going to be paid back.”

That rose the deficit up to $1.1 trillion, and then it rose to $1.4 trillion from increased spending and decreased revenues owing to the recession. “So, in effect Obama is responsible for about half of the budget deficit, although he uses sleight of hand to say he is only responsible for a tiny sliver of it.”

The funny math aside, Morris was asked if anything positive arose from the President’s attendance at the GOP retreat.

“Both sides needed the symbolism,” Morris explains. “Obama appearing to reach out to Republicans and Republicans appearing to reach out to Obama, but there’s no substance behind it.”

Morris laments that the Obama notion of bipartisan bargaining is to take a bill with 59 Democratic votes and wangle the vote of the errant Republican or two – such as convincing Olympia Snow to cross the isle. He argues that the President is not looking to fashion legislation that can attract the majority of each party. “That is not what Obama has in mind.”

As to Republican Sen. Scott Brown, the freshman from Massachusetts holding some liberal views on some topics such as abortion rights, Morris is unimpressed.

“Abortion is not going to come up for a vote where his vote would be crucial,” he opines.

Scott Brown’s star rising so quickly indicates that the Republicans do not have a clear leader, do you agree with that? Morris is asked by Newsmax.

“The Republicans do not have a clear leader,” Morris replies, implying that the Brown phenomenon is not critical to his conclusion. Moreover, he describes what is truly going on as a grass roots revolt.

“It’s the average person in the street thinking that Obama is going too far -- not solving unemployment; that he is raising the deficit… There are not one or two charismatic leaders at the top; it is growing from the bottom up – that makes it that much more authentic.”

Recent polls indicate that Brown could defeat Obama in a Presidential election if held now.

“Well,” opines Morris, “I think most Republicans could defeat him, and I think that by 2012 they will. I think that he is in very bad shape politically, and I think that it will get worse.”

As to Democrat Charlie Crist losing ground in the Florida Senate race:

“Crist was the moderate who fell between two chairs; the Republican Party is not in the mood for a middle of the roader. They want a true tried and true conservative.”

Morris forecasts that Mark Rubio will win the Florida primary and win the seat and be a terrific senator.

Furthermore, Morris says, “I am more and more convinced that Republicans are going to win both house of Congress.”

As to U.S. Attorney General Eric Holder’s stubborn effort to try accused terrorists in civil court: “I don’t think he is incompetent, I think that he is way left; he puts a higher priority on judicial norms and civil liberties being awarded terrorists…”

Morris’ solution is for Congress to pass legislation preempting the spending of any funds for the civil trial of any 9/11 terrorist. For instance, Obama wants $200 million for security for such trials. If Congress passes a bill that nixes such funds, “that will force a military trial -- where they should be in the first place.”

See Video: Dick Morris blasts Obama’s new budget and spending plans - Click Here Now

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