President Reagan Warned Of The Dangers Of Liberalism, And He Was Eerily Prophetic. He really knew what he was talking about when it came to liberalism is, and what is has become in our day. He did not hesitate to describe liberalism as essentially fascism in a 1975 interview with CBS s 60 Minutes, a political characterization that few, if any, public leaders seem willing to utter, let alone discuss, today.In a Dec. 14, 1975 interview with 60 Minutes correspondent Mike Wallace, Reagan discussed his political philosophy, saying that  the heart of my philosophy is much more libertarianism, than  .  Wallace then interrupted,  Well, that s the fashionable word these days, I guess. A conservative is no longer just that, he s a libertarian. Reagan continued,  It always has been. How do we call a liberal? You know, someone very profoundly once said many years ago that if fascism ever comes to America, it will come in the name of liberalism. 