President Obama Meets British PM Brown

This is a rush transcript from "Glenn Beck," March 3, 2009. This copy may not be in its final form and may be updated.

GLENN BECK, HOST: With me now is Daniel Mitchell.

(MUSIC)

BECK: Oh, geez — oh, no. Oh, here comes socialism! We're zooming past socialism. Yes. Now it's communism.

By the way, I think we have a communist update on tomorrow's program. Oh, yes, you wouldn't believe what I found today.

Daniel Mitchell of the Cato Institute is here. And you look like you're having a good time already, Daniel.

DANIEL MITCHELL, CATO INSTITUTE: I'm just enjoying your program.

• Video: Watch Glenn's interview

BECK: OK, all right. Good.

All right, so tell me a little bit about Gordon Brown. He comes to the White House today. He wants a — he wants a global new deal. How great could that be for America?

MITCHELL: Well, as you pointed out, it's bad on two fronts. The first New Deal was a big mistake because it kept us in a depression for over a decade, but then, we're going to make it global. And what does that mean? It basically means a cartel of governments coming together, all of them agreeing: Let's simultaneously screw over our taxpayers by making government bigger, and if we all do the same thing, there are no escape routes.

Right now, America is a place where Europeans can escape if they're being overtaxed. But if we agree to climb into bed with the French and the Germans, and have high levels of taxes and regulation across the entire planet, where can you escape?

BECK: Yes, there's — that's the amazing thing — there is no other place anymore. There's — we are tying ourselves together. We're tying our currencies in.

I mean, I swear to you, if I — if I saw this in a movie, if this were like a two-hour movie on what everybody is doing around the globe, I'd be the guy either saying one of two things — one, I would be saying to my wife, "This would never happen. Nobody is that stupid. They wouldn't keep printing the money and borrow rowing the money."

Or, I would be the guy screaming, you know, at the American president, "Don't print any more money! It's a trick!" You know what I mean? And look at what we're doing every day. We are — we are — we are making this bonfire much, much bigger, are we not?

MITCHELL: Well, it is amazing that we got into a bunch of problems because too much government, too much spending, too much borrowing, too much debt. So what does Gordon Brown want to do? What does Barack Obama want to do? Give us more government, more borrowing, more debt...

BECK: But they all want to do that, Daniel. They all want to do that. And, you know, I —

MITCHELL: But...

BECK: Go ahead.

MITCHELL: Well, but this is the key thing. They know that if they do it separately, that their taxpayers will have escape options, if England does the wrong thing, then maybe people will escape to Switzerland or to Ireland or the United States. But if all countries agree to do bad policy simultaneously through tax and regulatory harmonization in this global new deal, then there aren't the escape options. And so, this is why we have to think of governments, whenever they are cooperating, they are really setting up a cartel to try to rip off their taxpayers.

BECK: I just don't want to get up in the morning sometimes, you know what I mean? You're, like you're saying that, and I'm like, "Oh, crap, that's what that means!" Sometimes — I swear to you, sometimes, I look at the news and I think — I mean, how did we get here? How did we get to a place where the United States of America is thinking about getting into bed with a bunch of socialists? Nobody's country is sound. We're listening to the experts at our central banks and our Federal Reserve banks...

MITCHELL: Yes.

BECK: ... they're doing the same thing in every single country. Aren't they supposed to be the watchdog? Shouldn't the — if we caused the problem, shouldn't the central banks over in Europe went, "Hey, by the way, you guys shouldn't probably do anything that America is doing right now because they're screwing you?" These people enabled all of us to do it, encouraged all of us to do it, and we're sitting here listening to them as they try to solve it, and it is going to tie all of us together in hell. I'm sorry.

MITCHELL: Yes. And we're going to be giving up — we're going to be giving up our sovereignty to a bunch of international bureaucracies like the OECD and the U.N., the European Commission wants us to join in some of their tax harmonization schemes. I mean, this is — this, I think, is a tremendous threat to America's future, because if Obama does the wrong thing and makes government bigger — well, at least in theory we can reverse that. And Bush made government bigger. In theory, we can reverse that.

But if we go ahead and sign international treaties and agreement to give up our sovereignty and let bureaucrats from around the world determine our tax and regulatory policies, we have permanently ruined and hurt the future of the American people.

BECK: OK. All right, thank you very much. I don't know. I mean, thank God you look a little like Phil Hartman, although that makes me a little sad. But at least you look a little like — doesn't he like Phil Hartman just a little bit? Has anybody said that to you, Dan?

MITCHELL: Is that a good thing or bad thing though? That's the first thing I want to know.

BECK: No. It's a good thing, I mean, except he's passed now.

MITCHELL: All right.

BECK: But I'm just happy to see you. It makes me think of him.

Content and Programming Copyright 2009 FOX News Network, LLC. ALL RIGHTS RESERVED. Transcription Copyright 2009 CQ Transcriptions, LLC, which takes sole responsibility for the accuracy of the transcription. ALL RIGHTS RESERVED. No license is granted to the user of this material except for the user's personal or internal use and, in such case, only one copy may be printed, nor shall user use any material for commercial purposes or in any fashion that may infringe upon FOX News Network, LLC'S and CQ Transcriptions, LLC's copyrights or other proprietary rights or interests in the material. This is not a legal transcript for purposes of litigation.