All Episodes
Previous Next
March 24, 2009 - Rush Limbaugh Program
37:26
March 24, 2009, Tuesday, Hour #2
| Copy link to current segment

Time Text
Greetings and welcome back.
It's Rush Limbaugh, highly trained broadcast specialist, executing assigned host duties flawlessly.
Zero mistakes.
You know, Larry Cudlow came over for Larry Cudlow was in town to uh a couple speeches and take a little time off.
And he came over to House Friday night after dinner with some friends of mine who were hosting him, and we had uh it was a good time.
And after after um, as they were leaving, my friend, my good friend came up to me and said, It's the funniest thing.
I ran into somebody today who just thinks you're just pompous and arrogant as you can be.
I said, Why what did you tell him?
Well, I just smiled and I said, he doesn't care if you think that, as long as you listen.
And I said, Well, what what did they say that makes you to make them think I'm arrogant?
Oh, when you talk about how you're you're you're executing assigned host duties flawlessly, zero mistake.
They just think that's bragging.
They just nobody goes through life and never makes a mistake.
And you know, I just I just and again, this guy doesn't know Democrats.
This guy doesn't have to be a Republican talking to him.
If I had to be, well, never mind.
You had to be a Republican.
You know, and I just I looked at him and I said, you know what you need to start doing, Stanley?
You need to start defending me against these clowns instead of sitting there and just smiling.
It's absolutely absurd.
The whole point of saying executing assigned host duties flawlessly, zero mistakes.
Uh we we have lost in this nobody has sense of humor anymore.
We we don't have no appreciation of sarcasm, cynicism, any of these things.
Poor old Don Rickles, no wonder you never see him on TV anymore.
Uh people wouldn't think he's funny.
I used to think he's hilarious.
At any rate, phone number if you want to be on the program today, 800-282-2882.
And I do execute assigned host duties flawlessly.
You know why?
Because I assign them.
I do whatever I tell myself to do, and since I do it, I don't make any mistakes.
My show.
800 282-2882 email address is lrushbow at EIB net.com.
Now the poll that we're talking about earlier is a Greenberg poll.
Stanley Greenberg, who works with Carville and the Skull, uh Paul Bogala, and he went out, he did the poll for NPR, and they found that on the congressional ballot, the generic ballot, 42% choose Republican, 42% choose Democrat.
That's just not heard of.
The Democrats always win in the generic ballot.
And so the um 4242, and this comes after two weeks of demonizing and vilifying me and portraying me as the leader of the Republican Party.
I'd have to call it the backfire poll.
They're poll backfired.
They spend two weeks holding me up as the leader of the Republicans.
Then CBS runs polls showing my approval numbers at 19%.
Then they go out and do the generic polish of Republicans have climbed to a tie at 42% in the generic congressional ballot.
I'd have to say that this is the backfire poll.
You know, we're f from now on, whenever we see a Greenberg poll, we are going to call it the backfire poll.
Let's see now.
They got one um they're polling me again in North Carolina.
Let me find this.
Yes.
This this public policy polling.
They're polling me again.
Limbaugh gets poor numbers in North Carolina and Arkansas.
New public policy polling, looking at the popularity of Rush Limbaugh in North Carolina and Arkansas, find remarkably similar results.
Only 31% of North Carolinians and 32% of people in Arkansas hold a favorable opinion of the controversial talk show host.
31%, that makes me one of the most popular people in this country.
That makes me twice as popular as Nancy Pelosi in that same CBS poll.
Now, you have to ask, though, why do this?
Why poll a radio guy?
Well, because they've they've set me up.
They have positioned me as the leader of the opposition.
Not so much the Republican Party, just the leader of the opposition.
And as Greenberg found Out on his backfire poll, after making me the leader, they then take a poll, and they found out Republicans have climbed tremendously in the generic mallet.
Now, these clowns at public policy polling have me at 31% in North Carolina, 32% in Arkansas.
This is very simple.
This is using polling as a guise for spreading Democrat Party talking points.
See, what this tells me, as a seasoned observer of the political scene.
What this tells me is that the Democrats in North Carolina and the Democrats in Arkansas, and I think the Democrats everywhere are really scared of what I am saying.
I think they are scared to death of articulate conservatism.
They love the fact the Republican Party doesn't have anybody articulating it.
But they're scared to death of anybody who can articulate conservatism and maybe flip these states back to red from blue.
That's what they're worried about.
So they're doing everything they can at public policy polling and the Greenberg bunch and the Democrat Party from the Obama administration undone everything they can to discredit me.
All these lies and filth that ends up in the news about me and so forth, it's all done to discredit me.
And the conservative message, not just me.
If the Democrat Party in public policy polling, and they're a bunch of libs at this polling group, if they thought that North Carolina was going to get bluer, i.e.
more Democrat, they wouldn't even bother with this kind of thing.
The fact that they're polling me gives them an excuse to say conservatism is not popular, limbaugh's hated, blah, blah, blah, blah, blah.
It's an effort to discredit something that they fear.
Now, here is Mort Kondracki.
Mort Kondrakki on the Beltway Boys on the Fox News channel on Saturday night.
You get these Republican leadership emails every day, thousands of them, 99% of them are negative, saying something negative about Obama.
Now, there are Republicans who have constructive ideas, and Obama ought to be listening to them, but the main message coming out of the Republican Party is exactly the Rush Limbaugh message, NO.
I'm proud of that, Mort, if this is even true.
But our opposition to Obama is indeed based on NO.
We say no to socialism.
We say no to government berating the private sector for the purpose of taking it over.
What's negative about that?
Mort, my message is so positive that you don't even understand it.
My message is so pro-America, pro-individual liberty, pro-citizen.
It is entirely positive.
The negativism that has infected this country has come out of the Democrat Party.
Mort, it's the Democrat Party that's trashing their own country, that's trashing the economy, that's trashing the private sector.
We don't do any of that here.
We love the country.
We build it up.
We hope people understand the kind of country they have.
Totally misunderstanding and misrepresenting things.
You know, there's a all of our friend Mark Levin.
I was with him during the whole 18-month process of him writing his book, Liberty and Tyranny.
Liberty and Tyranny was released yesterday.
He's going to be on the program in this hour tomorrow.
Liberty and Tyranny is a conservative manifesto, and it is brilliantly written.
Because while it is constitutional, it is easily understandable.
It is a page turner, as a novel is, and you don't find books like this that can make that claim.
It is now number one at Amazon.
It is now number one at Barnes & Noble.
It is now number one at every national place.
You can buy books.
If you have ever, and I get emails from people all the time, Rush, Rush, Rush.
What would you suggest as a reading list that I can go get and understand conservatism or that I could give to somebody else who doesn't understand it?
You don't need a reading list.
You need a book.
You need this one.
I would recommend you getting this book for yourself and buying extra copies to give away.
Liberty and tyranny, it is by Mark Levin who'll be here tomorrow.
But there are a few people who are out there fighting for our liberty.
I'm one of them.
Sean Hannity is another Levin.
They're the bunch of them out there.
And we are being characterized as mean and angry.
And we are being characterized as people who just say no to Obama.
The nice smooth swamp debonair yuck it up guys are the ones taking away our liberty.
They are the ones who are usurping the Constitution and assaulting capitalism and individual liberty and freedom on a daily basis.
You see, blunt tough talk often is what you get from honest people.
Smooth, evasive straw man arguments emanate from dishonest people.
Now, unfortunately, that's confusing to the governed because of their ignorance and the fact that their emotions are easily manipulated.
Now, Mark Levin, who is he?
He's a legal scholar.
He's a constitutional scholar.
He runs the landmark legal foundation.
He was chief of staff for Ed Mies when he was attorney general in the Reagan administration.
And Mark Levin is a bare knuckles fighter for freedom.
The left labels him mean and angry, while Obama is labeled as compassionate and reasonable and engaging, while fighting to snatch liberty from people at every turn with a heart that is as cold as ice.
So we've got Levin's book, Liberty and Tyranny.
It embraces liberty.
It's out.
It is number one wherever books are sold.
Obama's plans, they're also out for taking it away.
You can read them every day in the Washington Post.
Open the New York Times on Sunday, the Washington Post today, executive pay limitations, not just on TARP bailout companies, but all companies.
Geitner wants to be able to take over any company that he wants to be able to take over.
The Barack Obama Take Freedom and Liberty Away from People Plan is out there and it's published in the newspapers every day.
It's on ABC, CBS, NBC, MSNB, CNN every day and every night.
Mark Levin's book is also out, embracing liberty.
There is an epic struggle that is underway.
Public sector versus private sector, collectivism versus the individual, liberty versus tyranny.
Good versus evil.
You could sum all this up by saying there's an epic struggle underway.
Good versus evil.
Our country's mislabeled scholars, journalists, late-night funny guys, and Washingtonian wizards of smart spew a relentless stream of propaganda smearing the people who fight for liberty.
They label freedom fighters as the bad guys.
We're told that people like Mark Levin are the ones wearing black hats.
You have to make it easy to see who to root against.
We're told that people standing up for individual liberty, which by definition are people opposed to the Obama administration.
We are the black-hatted people.
We are the people you need to be afraid of.
We are the ones fighting for your liberty and freedom, and we're supposed to be the ones you need to fear.
Well, those taking your liberty away are on Leno.
They're on 60 Minutes.
They're on the covers of pop culture magazines.
They're trying to appear nice and funny.
And one of us.
It's the so-called good guys, folks, who are the ones laughing about the economy, insulting special needs children, instigating mob rule in Connecticut, and taking time out to slander Justice Scalia as a homophobe.
That's the latest in Barney Frank.
and And that's all about the Defense of Marriage Act.
And all Scalia's ever said, I don't see marriage in the Constitution.
So I don't think we should be ruling on this.
Scalia is thus labeled a homophobe by Barney Frank, when all Scalia is, is a brilliant constitutional scholar.
$1.
As is Mark Levin.
Liberty and Tyranny.
Unfortunately, it's difficult for too many Americans to know who is fighting for our liberty and who isn't.
But Levin is, and I I I can't emphasize this enough, and I don't want to overdo it.
It's a great book.
And it does meet the requirement that so many of you have asked me about.
Rush, what can I read to explain conservatives?
This starts at the founding, comes to the present, shows you the bastardization of that's happened in this country.
You won't recognize your country after you read this book.
And that's good.
You need to understand what the left has done and how far we have come from the principles and concepts of our founding to where we are now.
This is the kind of book that people will read in the bathroom with a flashlight on college camp eye.
This is the kind of book that people will send with no return address to their parents, boyfriends, and girlfriends.
This is the kind of book that's going to spread like wildfire through the underground.
People who read it won't admit to having read it.
They'll just claim what they've learned from it as their own knowledge.
It will be passed around in various places in a plain brown wrapper with whispers, read this.
Don't tell anybody where you got it.
And at some point, after all this happens, Levin will come under assault from the wizards of Smart.
And sadly, Levin will come under a fault, uh under assault from the pseudo-conservatives on our side, the moderates, self-proclaimed, who will be threatened.
Because this is not just an explanation of Reaganism.
This is not just an explanation of conservatism as it applies today.
This is the history of the United States and how our country is being lost.
And it also has at the end of the book some things you can do.
Because people also ask, What can I do?
Okay, I've read it.
What can I do?
The important thing here is to read this and to pass it along.
You do not need to have gone to Harvard.
You don't even have to have gone to Bogoyovich's high school.
This read is easy, even though the material can be technical.
The Constitution sometimes is technical to people.
Liberty and Tyranny, if it's not sold out yet.
I mean, it is it really I was stunned today to learn after one day out there, and without having me even mentioned it, it's already number one.
That's incredible.
Normally they'll get to number one till I mention them.
What this tells me is there is a hunger, there is a thirst among the people of this country for something to grab on to and hold on to because there are millions of people who didn't vote for this, they're scared to death of it.
And this book is a security blanket back in just a second.
Stay with us.
We're gonna make Levin's book such a powerful dominating number one that they're gonna have to come up with a new number, a new category to describe it.
Number one won't be enough.
The real number one will be lagging so far behind Levin's book, Liberty and Turner.
I'm not exaggerating this in the slightest.
This is the book that everybody's been waiting for.
And I know the the the it was it was not an easy write.
Uh I've I've it it was he had slogged through this because it is researched, it is when I say it wasn't easy, it took a lot of time.
This is not just somebody pontificating on page off the top of their heads.
This is research, this is historical, it's factual, it's uh it's it's got everything in it you'd need to answer an objective or uh an objection that somebody might uh might have to it.
Now Snerdley just asked me, is nobody upset here That a group of people that Obama used to work for Acorn, which got three and a half billion dollars from the stimulus bill.
Is nobody upset that our country has been turned into a banana republic?
Because this Obama support group, this election fraud group, is up conducting tours of a mob of angry people by the homes of executives of AIG.
Is nobody upset about this?
He wants to know.
Well, I have a story about it, snurly, somewhere here in the stack from some little known Connecticut paper.
Here it is, Connecticut Post.com.
Activists vent at AIG executives.
And this story is written sympathetically as written through the eyes of the people on the bus.
And there's this twenty-four-year-old guy from the slums of Hartford who's on the bus, who's been taken on tours of a couple of AIG executive homes, claiming he's never seen homes like this.
He's never seen neighborhoods like this.
He's never seen lawns like this.
He's never seen cop cars like this.
The only time he's seen a cop car where he lives, the story says, is when people show up, cops show up when somebody's done something wrong.
He's never seen the cops out actually protecting people.
This whole story is written from the perspective of Acorn.
This is the drive-by media, this Connecticut Post, little little paper I found on their website.
No, they've ginned up mob rule on this, and the people who are appalled by it are too scared to say so startly, except us.
Let me read a little to you here from this story on March 21st, three days ago, from the Connecticut Post.com.
Hollywood has its bus tours of celebrity homes.
New York City has its bus tours of mob hits.
So why not pack a bus with community activists?
Invite a representative from every media organization in the free world, and see the Fairfield County mansions of the filthy rich and most recently infamous, quote unquote American International Group executives.
After all, these are the people who pack their wallets with millions in taxpayer bailout bonuses for helping take their company and the U.S. economy down the tubes.
Organizers say.
And that's exactly what the working families party in Acorn did Saturday morning.
Now listen to this, though.
The writer, the story.
Unfortunately, traffic and the slow-moving caravan of news media that followed the protesters only allowed the bus enough time to stop near the estates of two Fairfield AIG executives, both who promised to return their bonuses after their names were disclosed.
The media from as far away as Montreal, Germany, and the Netherlands outnumbered the demonstrators three to one.
And the demonstrators played on the boom mics, clicking camera shutters and whirling video tapes with a noisy but well-mannered demonstration outside, and they give an address here of one of these executives' houses.
The protest took place under the watchful eyes of a nearly a quarter of Wilton, Connecticut's forty-four-member police force and four private security officers.
Then they talked about the place they first stopped and they described the house.
The colonial home, surrounded by neatly trimmed rhododendron bushes, appears to have been expanded at least three times.
Between Wednesday's name of polling and Saturday's bus tour, the executive hired two security guards and lined his yard's border with small white flags, warning of an invisible fence for an unseen guard dog.
And then it just goes on and on and on and on and on, and they finally talked to a protester.
Asad Jackson from North Hartford.
This is nowhere near even close to what it looks like where I live in North Hartford, said Jackson, seeing a half dozen huge homes, some housing their own swimming pools, gazebos, and backyard patios.
Another has its own fenced-in regulation sized black topped basketball court, waiting for a quick pickup game.
This is like comparing a rosy red apple to burnt toast.
That's not even the best metaphor, said Asad Jackson, 24, who teaches African percussion and the trumpet in Hartford.
Where?
On the street corner.
Couldn't they name the institution where he teaches it?
Aside from the mansions, there were the police cars.
Several parked at the street entrance.
Another parked outside polling's home.
The only time Jackson says he sees police in his neighborhood is when they're looking for somebody.
And I've covered about half the story here.
No, Mr. Snerdley.
There is very little outrage about this among people willing to publicly express it.
Here's this.
Here's the end of the story.
The more he saw Saturday, the more he heard, the more incensed he became.
Because the American taxpayer now owns eighty percent of AIG.
The American taxpayer should have full access to anything and everything these people own, including their country club memberships, their recreation facilities, their built-in swimming pools.
But we'll do it on a schedule, he said.
America has stopped being a country that cares about its people.
It's all about greed.
That was one of the protesters on the bus.
The bus loaded up again, the media caravan aligned behind it, and they they they had they spent so much time they buy they bypassed the next executive, and they drove to the headquarters of uh AIG financial products in Wilton, Connecticut, to uh continue to protest.
It is.
It's a um it's a banana republic.
This is banana republic type stuff.
In fact, I read some stuff over the weekend, I don't think I printed it out because it's all premature right now.
But it's from some left wing blogs.
That that term was actually used by a left winger.
This is absurd, he said.
I mean, there are there are banana republics that wouldn't think of doing what this Congress did last week on the retroactive ninety percent tax increase on AIG bonuses.
There's some people, I mean they're they're they're they're starting to uh talk about it, but you with the people you mean, snurdly, the opposition, nope, nobody's there.
Scared to death.
They're scared to death of being demonized and uh and vilified.
All right, let's go back to the phones.
People have been uh have been patiently waiting.
Betty in Everett, Pennsylvania.
Great to have you with us on the EIB network.
Hi.
Yes, Rush.
Thank you for taking my call.
I enjoy your show.
Thank you.
Uh quick question.
Do you not think that this thing with the I AIG taking back the bonuses is setting a dangerous precedent for uh the future uh as to the government engineering and wait wait, you mean AIG giving them back or the government taking them back?
Which do you mean?
Well, i they're ba they're basically well basically the government's taking forcing them to give it back.
And if they can tax their money at a hundred percent, where does this stop?
What at what point is the government maybe go further down the road and say, well, and what do we even be talking about that had AIG not taking government money?
If if the government can say, well, AIG has to give their money back, those that yes, executives made too much money.
Well, at what point Obama's already talking about it.
He wants control of the financial sector, and Barney Frank today was talking about legislation that would tie executive pay to performance.
Federal legislation would do so.
The Obama administration is wanting to do everything it can to take over and regulate as much of the financial industry as it can, the banking business and even other businesses.
But your larger question, I think is very good.
Let's let's look at something here in progression.
When Ronald Reagan took office in 1981, the top marginal tax rate was 70 percent.
When he left office, it was twenty-eight percent.
When Bill Clinton came into office, he got the top marginal rate uh back up to thirty-nine point six percent.
The Bush tax cuts came along and they lowered them back to uh thirty-five percent.
The Bush tax cuts will end in sunset after twenty eleven.
Twenty ten, twenty eleven, I think.
At which point Obama is going to not extend them.
So the tax rate will go back up to thirty-nine six.
Now, throughout all of this, the Democrats have done everything they can to make sure they do not mention the number forty.
They they they they they they know they're on thin ice raising taxes here, so the thirty-nine point six, that was the first incremental step.
Just let the Bush tax cuts expire.
Now you are right.
Look at what has happened.
Using mob rule and populist psychology, they've got to figure it ninety percent now.
I mean, aren't they?
They've got to figure it ninety percent, and nobody's objecting.
The people who are now faced with a ninety percent tax rate, rather than fight it, are giving the money back.
So there is no ninety percent, there's a one hundred percent tax rate now.
They were paid money contractually, they're giving it back to avoid the hassles of working with government.
The Constitution now doesn't exist.
That doesn't exist.
If the Constitution can be tossed aside this easily, then they can throw any part of it aside.
It's illegal what they're doing.
Totally can't.
But nobody's stopping them and nobody's upset.
In fact, they're ginning up national support for all of this.
So whereas they were afraid, Obama was afraid to actually talk about raising taxes to 40 percent.
Look what they've done.
They've thrown the figure of ninety percent out there.
That was the top tax rate when JFK started lowering taxes, and his rates got them down to 70.
His cuts got them down to 70.
So 40 years ago we had a top marginal rate of ninety percent.
We had a whole bunch of rates.
The top one was ninety, but there were all kinds of tax shelters.
There were all kinds of incentives to put your money someplace to avoid paying the ninety percent.
Those things don't exist anymore.
Now you now they've got that ninety percent number out there, and nobody's objecting.
So, yes, you're right about your contention.
And wouldn't you would you please at some point in one of your shows address the hypocritical uh how hypocritical Obama is being on on almost every level?
And that's all I won't keep you anymore, but I think you need to do a show on just how many hypocritical things he is doing and the Democrats are doing.
Well, could do that, but I think it's worse than hypocritical.
Hypocritical doesn't begin to describe it.
And by the way, hypocrisy is not an indictment of Democrats.
Democrats are hypocritical every day, and it doesn't they're never held to account.
Uh hypocrisy only damages Republicans.
We're missing the boat if all we want to say about Obama is he's hypocritical.
Obama is while everybody stands around cheering, is taking away individual liberty and freedom as quickly as he can, while smiling and laughing about it on Leno, smiling and laughing about it on 60 Minutes with Steve Croft.
And while his mindless Obama bots are out there cheering for him at every town meeting or so forth.
He's taking away freedom, incrementally, each and every day, making another big grab at it.
That's not hypocrisy.
That's tyranny.
And we'll be back.
Stay with us.
We have a little snippet here of a it's a montage, actually, of a report on the uh acorn protests of AIG executive homes on Saturday on the NBC Nightly News with the reporter Mike Taibi.
While no one says that populist rage is unjustified, there are those who argue that beyond a certain point it's unhelpful.
And while some say the real problem isn't millions in bonuses, but the billions funnel to AIG's corporate partners.
It's easier to scream about one company and a roster of its executives.
Or to stage a bus tour of some of those executive homes.
As happened today in Connecticut, and to aim that anger at the big picture.
An economy that wouldn't be stabilized even if every penny of every bailout bonus was paid back.
That doesn't matter.
It doesn't matter.
None of this, this is all raw emotion.
Doesn't you can give people the facts left and right about the size of the bonus?
In fact, it's even worse than that.
You can say, Yeah, 165 million dollars in bonuses versus uh 700 versus what what is the other number that's uh that is being passed around.
Um what was it, two or three billion for something or other.
Anyway, 165 million sounds larger than two or three billion because a hundred and sixty-five sounds bigger than two or three or even eight or even ten.
So you have a bunch of ignoramuses in this country whose emotions are being played and they're being ginned up and they're joining these protests and so forth.
Nobody's going to do anything to stop it.
Nobody's going to stand up and oppose it, especially if most of the people on the protest to are minority, most of them are very poor, nobody wants to be critical of either group.
So you have to sit there and just sort of you know I understand where they're coming for I don't know where they're coming from.
It's a shame and so forth.
Well they're sturdly there's I agree that somebody better stop it now but it's not it's I don't I don't know who who who's going to stop it.
The Obama administr the president is not going to speak out against this.
The president is encouraging this.
The president could stop this with a snap of his fingers.
The president loves this.
It's his group Acorn got stimulus money to do this kind of thing.
It's his group this is where he trained Acorn.
This is exactly the kind of chaos that his administration wants they're doing everything they can to take over as much of the private sector and regulate it as they can as soon as they canstery about it.
It's just the s the the real surprise it's not the country you and I grew up in I told you we're a bipolar country now.
There's so many people looking at this they see what it is and they're not at all bothered.
Even the ones who are not particularly in favor of something like this, they think it's just going to pass.
It's only because of the dire strait the economy is but the things will eventually straighten out.
They don't have the slightest concern about it that they're willing to voice publicly anyway people on the phone some have been waiting a long time back to the phones Detroit Michigan and Marvin great to have you sir hello.
Hello Rush is Megadetto from the Final Four City.
Thank you sir.
And it's an honor to speak to you I didn't know the final four was in Detroit congratulations.
Yeah well there's something there.
But anyway differ from you know what got us in this mess in the first place.
Which Geithner plan are we talking about toxic acid?
The one now yeah.
The one now where he's gonna buy up or he's going to get private investors to you know buy up the toxic ass you know toxic money you know so how does that differ from what got us in this mess in the first place?
It doesn't it it it it the the the difference here is in language and the difference here in how it's being the private investors okay private investors can buy the assets.
Then you say with what oh they're going to be lent the money by the government.
Exactly.
So the government's going to loan quote unquote private investors to buy up the toxic assets.
Oh that's cool.
And then you learn that the people borrowing the money don't have to pay it back sort of like the subprime crisis.
So they borrow the money they don't have to pay it back the the the hope from the government is that whoever it is borrowing all this money is borrowing so much that they'll overpay for the assets giving them value that will allow the banks to to write off some of the assets here and and and show a little bit positive more positive balance sheet and if they make a profit if these quote unquote private investors which I'm sure will include AIG people and hedge fund people, I'm sure some Citigroup people will be on an aby.
I'm sure uh some Merrill Lynch people will be on in a buy I'm sure all of these evil bankers and hedge funds will be in on this buy and if they do happen to show a major profit they get to keep it if they don't if they show a loss they don't have to pay it back.
It's just like the subprime lending crisis.
It's no different than when they you know guaranteed the loans the only people that made money were the mortgage companies and the banks and now the only people make the money out of private investors which makes no sense to me.
And we're on the hook now wait see see that this is the trick though here we've got this administration supposedly nationalizing everything and yet who are going to be the saviors here?
Private investors.
You see how they work the language the investors really aren't private because they're not using their money.
They're being lent the money well like you said they're being bailed out this is just another circuitous bailout of like Fannie Mae and Freddie Mac after they've gone down the tubes because of bad loans the government's just the becoming the lender of last resort here.
These are no recourse loans, meaning you don't have to pay them back.
Yeah, would it have been cheaper just to buy these toxic debts with this trillion of dollars?
Uh well no, you know what would have been cheaper?
What's that?
You could you could have you could you could end all income taxes for a year.
Just suspend all income taxes for a year, and Social Security taxes.
And the government would thus place one trillion dollars in the pockets of people who make the country work.
That would revive the economy and end this.
If you're gonna spend a trillion dollars, give it back to just don't collect taxes for a year.
You'd you you'd put a trillion dollars in the private sector, but that's not what these people want to do.
We'll be back.
Stay with us.
Here's a Reuters headline: resistance grows to Obama's bigger government.
And it's an amazing story.
The thing is, I don't believe any of it.
I can't believe the story has been written.
It quotes some Harvard business school people.
What resistance to his big government do you see out there?
▲
Export Selection