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June 8, 2009 - Rush Limbaugh Program
37:27
June 8, 2009, Monday, Hour #1
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Welcome to today's edition of the Rush 24-7 Podcast.
What a day, ladies and gentlemen, greetings.
Great to have you with us.
I am Rush Limbaugh, and this is the one and only Excellence in Broadcasting Network, and we've got broadcast excellence for the next three hours just for you.
Our telephone number 800-282-2882.
If you want to be on the program, the email address L Rushball at EIB net.com.
Kill the music.
Look at me.
Ladies and gentlemen, there can be no other way to say this now.
The gloves have to come off.
It's time for people to sober up.
The President of the United States, Barack Obama, is destroying the United States economy.
There is no other way to describe this.
Systematically destroying it.
Russia, you saying he's doing this on purpose.
Not going there, it doesn't matter.
What matters is the United States economy is being destroyed.
Even the associated press, government-run associated press.
With a headline, big government spending programs are having the opposite effect on the economy.
They are concluding that you cannot spend yourself out of a recession.
So what is President Obama planning to do?
Spend even more, even sooner.
Here is the AP story.
The Federal Reserve announced a $1.2 trillion plan three months ago, designed to push down mortgage rates and breathe life into the housing market.
But this and other big government spending programs are turning out to have the opposite effect.
It is not just that they aren't working, they are hurting.
They are harming.
Anybody with a brain at the outset knew that this would be the result of massive Keynesian type economic spending.
Any the thing that I know, whether any of them will admit it or not, is that half of the people in the Obama administration know this as well.
What I don't know is whether they're on board for it or whether it's simple party loyalty that is causing them to go along with this.
I know the Democrat Party is oriented towards socialism.
I know the Democrat Party is oriented toward big government and massive power.
But I'm speaking specifically of the Democrat Party now.
I'm still not convinced the Democrat Party wants to destroy the U.S. economy.
I am convinced that Barack Obama, whether he wants to or not, is in the process of destroying it.
This and other big government spending programs are turning out to have the opposite effect.
Rates for mortgages and U.S. Treasury debt are now marching higher as nervous bond investors start to fret a resurgence of inflation.
That is the catch-22 threatening to make an awful housing market potentially worse and keep the economy stuck in a funk.
This is government-run associated press.
Kickstarting the economy requires higher spending, but rising rates mean fewer Americans will be able to refinance their home loans.
Kickstarting the economy does not require higher spending, if I may disagree.
Kickstarting the economy has nothing to do with the government.
Other than the government getting out of the way, lowering the tax burden on businesses small and large and on individuals so that businesses can hire, and so that individuals will be hired and start paying taxes and start earning income.
We have a 25-year high in unemployment.
We are 1.4% unemployment higher than was predicted by the Obama administration and his loony tune of economic advisors headed up by Olston or Austin Goolsby.
Now this this story is focusing on the on the on the on the housing market, and that is a crucial market because that's where most people have the greatest asset is their home, and most people's mortgages or a lot of them are underwater now.
some potential buyers for new homes are going to be shut out of the market by higher monthly plate payments they won't be able to afford because of this incessant spending.
The White House is estimating the government will rack up an unprecedented 1.8 trillion dollar budget deficit this year, and let's be honest, it's going to be over $2 trillion because the tax revenue that's coming in has great been greatly reduced because of the unemployment people are not paying taxes.
That $1.8 trillion budget deficit this year, four times as high as last year's all-time high.
Stop and think about that.
Last year was an all-time high.
Obama's budget deficit, and it is his.
He has gone way beyond what the Bush budget for fiscal 2009 projected and allocated four times the deficit minimum as last year's all-time high.
The bond market is calling the Federal Reserve out, said Mike Larson, a real estate analyst at Weiss Research Incorporated up the road here in Jupiter, Florida.
Investors are saying that the Fed can't just print money out of thin air to finance a massive deficit.
And the Federal Reserve Chairman, this was known at the outset, by the way.
This isn't news.
This is tested economic theory.
Federal Chairman Bernanke acknowledged last Wednesday.
In congressional testimony, large budget deficits could threaten financial stability by eventually eroding investor confidence and endangering the economy's prospects for long-term health.
He's the number two ranking government official to warn this.
Obama was the first about a week before Bernanke did.
Now, when Obama says this deficit spending can't be kept up, it's an insult to everybody because it's his deficit spending.
He was simply making an excuse to raise taxes and wait till you hear all of the many tax increase plans they have for health care.
And one big change from nationalized health care from 1993 or 94 to today.
Back in 1993 or 94, do you remember the uh Harry and Louise ads?
Those ads, very effective, were run by the insurance companies, opposing nationalized health care.
This time around, insurance companies are all for nationalized health care.
Do you want to know why?
Obama's nationalized health care will require businesses and individuals to ensure everybody who is uninsured, whether they want to be or not.
That's fifty million new health insurance customers that will happen by government fiat if this health care bill gets pot passed and is signed into law.
And then with this as a backdrop, President Obama met with his cabinet today to uh deliver more than 600,000 jobs through his stimulus plan this summer.
Federal agencies pumping billions into public works projects, schools, and summer youth programs.
These are not jobs that will last.
These are not career jobs, these are not even jobs that really pay anything.
Obama ramping up his stimulus program this week, even as his wife stays in Paris to shop while with the kids, while Obama continues to warn CEOs not to get on their jets and fly to Las Vegas.
For a man who said he didn't have time to see any troops or to meet with Sarkozy or to have some quality time with Angela Merkel, the man had to get back and do that, and he got back yesterday and went and played golf at Andrews Air Force Base 90 minutes after arriving back from France.
Or wherever he was.
And Michelle and the daughters are still over there on a sightseeing tour to add insult to injury.
Mikhail Gorbachev.
Has now entered the world economic question with his own point of view, my friends.
Thus it is time for a Gorbasm.
I realize that many of you listening to the program today may not know what a Gorbasm is.
You're new to the program.
Let's go back.
It's 1987.
It's Washington, D.C. The American left, the worldwide left, fearful, scared to death at Ronaldus Magnus.
The cowboy is going to hit the nuclear button and blow everybody up.
So their first meeting ever, Reagan and Gorbachev, scheduled in Washington.
Gorbachev's Idiusian 62 jetliner, technology to build stolen from Boeing, lands at Andrews Air Force Base.
On the tarmac, assembled State Department people, Washington elites and the media.
The Illusion 62 taxis in.
The front door opens.
The steps are rolled into place so that the visiting dignitaries aboard Gorbachev's plane can deplane.
Finally, he appears.
The man with the expanding forehead birthmark.
At the top step.
And the assembled crowd from the State Department, the media, the Washington elites, have a collective orgasm over the fact that they now feel safe, that the world is safe, that he, Gorbachev, has arrived.
The truth be known, Gorbachev was the world's first messiah.
Obama is number two.
So they had these collective shrieks and they were groaning.
And that gave birth to the phenomenon known as the Gorbasm.
I have met Mikhail Gorbachev, George H. W. Bush's 80th birthday party, Reliance Stadium in Houston.
I had my photo taken next to Gorbachev.
That photo has appeared at RushlinBaud.com numerous times.
Not all the time, but sometimes his birthmark appears on my forehead.
It's the strangest damn thing.
Anyway, here's the Gorbachev news.
The headline says it all.
Mikhail Gorbachev has called for perestroika, a new openness and reform in the West.
Former Soviet leader Mikhail Gorbachev called for a perestroika, a top-to-bottom reform in the West, arguing that the West's current economic model was unsustainable and needed replacement.
Commenting on the current global economic crisis, Gorbachev, who presided over the collapse of his country.
And that's the right way to describe it.
Gorbachev is credited for ending the Cold War.
Mikhail Gorbachev presided over the collapse of his country like Barack Obama is presiding over the collapse of his.
And so a man who knows how to collapse his own economy is now advising us on how to collapse ours.
He said it was now clear to him that the new Western model was an illusion that benefited chiefly the very rich.
He's not talking about Obama's current policies, folks.
He's talking about officially ditching capitalism.
Said Mikhail Gorbachev, the model that emerged during the final decades of the 20th century has turned out to be unsustainable.
This is an op-ed piece in the Washington Post, by the way.
Gorbachev wrote, it was based on a drive for super profits and hyperconsumption for a few, on unrestrained exploitation of resources and on social and environmental irresponsible.
The responsibility, Gorbachev then predicted perhaps even greater upheaval down the road, insisted the current economic and social model existing in the West needs replacing.
He is endorsing what Obama is doing, tearing apart the greatest economy in the history of the world.
Mikhail Gorbachev, who presided over the collapse of his own economy, essentially now endorsing the same steps taken by Barack Obama.
I don't know about you.
But when I have a former communist totalitarian dictator articulating policies identical to those being enacted by a United States president.
I get scared to damn death.
Yeah, I know.
Hang on just a second.
A minute and a half to print one sentence.
A minute and a half to print one sentence.
Here it comes.
Here is that one sentence.
What'd you say?
It's not, it's not, it's not, it's not the Mac.
It's it's not, it's partly the operating.
That's not the one one a minute and a half to print one's anyway.
Here's the sentence.
And this is from the uh government-run associated press.
President Obama had a cabinet meeting today.
President Obama says that the nation is in a very deep recession, and it will take considerable time to recover.
Ladies and gentlemen, uh we are in a bad recession precisely because of President Obama's policies.
His policies have deepened the recession, and they are responsible for lengthening it.
And his announced solutions today to speed up more government spending with more hiring of shovel ready jobs and so forth is only going to compound the problem and make it even worse because none of this will be taking place in the private sector, generated by the private sector where economic growth and recovery takes place.
The question remains, at what point will people who voted for Obama begin to see it?
Yes.
this way, I fear it's going to take much longer than anybody thinks.
Republican Senator Chuck Grassley says that Obama got nerve to go sightseeing in Paris while telling lawmakers it's time to deliver on a health care overhaul.
Grassley, he's the top Republican on the Finance Committee, is key to any bipartisan health care deal.
And he's using Twitter out there.
By the way, that reminds me.
I'm getting emails from people.
Hey, Rush, I saw your tweet the other day.
I do not have an account on Twitter.
I think there are three or four phony Rush Limbaugh accounts on Twitter.
I don't tweet.
I resist the tug of popular sentiment.
Somebody else gets everybody else gets involved in something I purposely don't, but I have no interest in tweeting.
So I don't have a Twitter account or a Twitter account, um, nor a Facebook account, nor any of these other things.
So whatever you're seeing supposedly tweeted by me is not the case.
Anyway, Chuck Grassley is his attitude is significant here because any hope for bipartisan consensus on health care rests on an alliance between Grassley and the committee chairman Max Baucus.
The committee has been laboring to come up with a health care bill that Democrats and Republicans can support.
This health care bill is the focus right now of and and ought to be the focus of everybody's energy to oppose and to prevent it from happening.
Because if they get it, uh ladies and gentlemen, it will allow them to regulate virtually every aspect of our lives, to regulate and control virtually every aspect of our lives, not to mention raise everybody's taxes, which will further uh choke off any economic recovery.
It is it is it is obscene and it is absurd what is being attempted here.
And the thing that anybody with the brain, I'm telling you, anybody with the brain understands it isn't going to work, it's not going to provide any uh real solutions for health care problems today.
It's gonna make health care worse, it's gonna make the budget deficit worse, it's gonna make the private sector worse, it is going to destroy if it happens even further.
The American economy, as we have all known to um uh come to know it, and uh for most of us have lived it.
More on that as the program unfolds before your um your very uh in fact, I want I want to go back.
Let's get some audio sound bites from the past on this uh economic catastrophe.
Let's go back to February 2009.
This is President Obama in the uh in the White House, a portion of his remarks.
Make no mistake.
A failure to act and act now will turn crisis into a catastrophe and guarantee a longer recession, a less robust recovery, and a more uncertain future.
Millions more jobs will be lost.
More businesses will be shuttered, more dreams will be deferred.
All that's happened.
All of that's happened, and we did act as He wanted to act.
We passed the porculus bill.
He said it had to be passed immediately or we would face catastrophe.
It was passed immediately.
We are in the midst of a catastrophe.
And the president says today it's even worse.
We are in a deeper session.
It's going to take even longer to climb out of it, so we're going to compound the same problem by spending even more money, which means we are going to print even more money.
Saturday, a portion of the president's YouTube address.
Simply put, the status quo is broken.
We cannot continue this way.
If we do nothing, everyone's health care will be put in jeopardy.
Within a decade, we'll spend one dollar out of every five we earn on health care.
And we'll keep getting less for our money.
And that's why fixing what's wrong with our health care system is no longer a luxury we hope to achieve.
It's a necessity we cannot postpone any longer.
Okay, we're the same situation, the same circumstances are being served up to us.
Back in February, we could not wait for the stimulus.
We were facing a catastrophe.
In fact, let's go back to October.
We could not delay TARP.
We could not delay bailing out the banks.
The country would fall apart in 24 hours.
Two weeks later it was passed.
The country was fine, had not fallen apart.
February, we've have to act now.
We cannot delay.
A catastrophe is right around the corner, so we got porculus.
And the same strategy is now being employed to create this crisis and fear mentality on health care.
If we don't get that done, everything falls apart.
Don't fall for it, folks.
It's a ruse.
On Saturday, ladies and gentlemen, I was uh awarded the coveted Freedom of Speech Award by Talkers Magazine, the leading industry uh magazine and newspaper for the talk radio business in New York.
And free speech means free speech.
And I mean it when I say to you, Barack Obama is destroying the United States economy.
It is crucial that we link Obama's plans to his failures.
Now the failures are becoming apparent.
Barack Obama has had promises.
He has had plans, he's gotten away escaping any consequences of his plans and his promises.
But now the consequences are coming in.
The unemployment news and the economic news continues to worsen after his stimulus bill passed in February, which he said was the road to recovery.
It has gotten worse.
Our only hope in stopping national health care.
Well, maybe it's it's a it's a stretch to say our only hope because there are some other things, but a key element in stopping national health care is to link Obama's plans to his failures.
Now, during the break, I listened to a little audio of Obama with a cabinet meeting today, and he was talking about the recession being worse.
And he said essentially it was all George W. Bush's fault.
He said circumstances beyond his control when he assumed office, blah, blah, blah, blah, blah, blah, blah.
I am infuriated when I hear this is gutless.
President Obama, it's time to stand up and be a man.
And men who are six months into office do not continue to blame their predecessors.
You, sir, have committed far more egregious budgetary errors than the Bush administration could have ever dreamed of.
Mr. Obama's financial plans, his economic plans are an unmitigated disaster that are destroying the United States economy.
There is no other way to put it.
There is no previous president in this country who set out to do, who set out to do what Barack Obama is doing.
No president in the history of this country sought to destroy the economy of the United States of America.
Barack Obama must want that to happen because that's what his policies are doing, and today he doubled down on them.
He is not retracting them.
He's not trying an alternative.
He is doubling down on that which has led us to 9.4% unemployment.
Even today he's speaking about how the good news in unemployment is that only 345,000 people lost their jobs last month, as opposed to 600,000 the prior month.
So this is good news.
Never mind that we've reached a 25 year high in unemployment.
Never mind that not one program of his has helped anybody revitalize their own economic fortunes.
His policies have put nothing but boulders and obstacles in front of everybody.
We find out today, ladies and gentlemen, from none other than I think the Detroit Free Press.
The Detroit Free Press has a big story on how it was Steve Ratner, the Carzar of Obama, who forced the bankruptcy on Chrysler.
Chrysler didn't want it.
They had secured some concessions from the UAW to freeze wages, to promise no strikes for six years, to reduce the pension contributions and all that, and the administration wouldn't hear of it.
They demanded bankruptcy, they demanded a deal with fiat.
Chrysler did not want it.
The administration forced it on them.
We have autocratic control of the U.S. economy in as many sectors as Obama can secure.
The next big one is health care.
And if he gets that, you can say goodbye to the notion of freedom as you have known it.
Because virtually every aspect of your life can be regulated on the premise that any risky behavior that they define as risky is going to raise health care costs.
And so the objective to keep health care costs down will allow them to dictate what you eat, what kind of car you drive, how far you can drive it, where you can, if they want to.
Think no limits.
This is what is desired.
I didn't know it when I did the open to the program.
I had the Gorbachev op-ed today in which Gorbachev claims that we need to junk capitalism and have our own perestroika.
This is the man who collapsed his own economy, advising the United States and the entire West on how to collapse theirs.
I did not know that today's Pravda made the same point.
I have been informed.
I have been sent the Pravda story.
It's not something I regularly read in the Daily Show Prep process.
Their headline, Obama becomes America's Gorbachev.
History may repeat itself two or three times or even reach the point which Francis Fukuyama described as the end of history.
The U.S. historian of Japanese origin introduced the notion during the time when there were two dominating superpowers in the world, the U.S. and the Soviet Union.
When the Soviet Union collapsed and Russia lost much of its international influence, the USA became the world's number one superpower.
That was the time when U.S. presidents started making one mistake after another.
Their mistakes eventually led to the phenomenon, which is currently known as the clash of civilizations.
America needed an enemy, America needed oil, both were found in one country, Iraq.
They go on and on to describe some of the mistakes that they think we were made.
They go on to make the point that Barack Obama has become America's Gorbachev.
Gorbachev presided over the destruction of the Soviet Union.
And Barack Obama is provide presiding over the destruction of the United States of America.
There is no other way to say this.
Given the economic numbers that we have, given the 25-year record on employment, given that there is no positive economic news anywhere.
Wouldn't somebody with common sense and a brain think that after, let's count them up here.
This is just we have five months, and then we add October and after eight months of an amount of spending that equals eleven trillion dollars and an over $2 trillion budget deficit this year after eight months of stimulating the economy in ways that have never been done, under the theory that this was the only way to revive our U.S. economy.
Isn't it time to stop and say, wait a minute?
The political solutions not only aren't working, they are making it worse.
Eight months.
And this kind of spending is enough of a proving ground for me.
Sad fact is I and many of you in this audience don't need a proving ground because we have history on our side.
We know where this kind of thing has been tried structurally and philosophically and in reality, and we know the disaster that awaits.
It hasn't worked any time it's been tried.
The only reason somebody in this day and age thinks it'll work is because of the personality of Obama.
The personality, the cult-like followers of one man, think that it is possible because he's a different kind of guy.
I need to find an audio sound bite here for you.
Sit tight, folks.
It's from the it's from the uh state-run uh uh newsweek.
Let's see.
I want you to grab audio sound bite uh number eight, Mr. Broadcast Engineer.
Back back in uh 2007, Evan Thomas of Newsweek magazine was asked, because you guys think you're being awfully hard on George W. Bush.
No, no, no, no, no, said Evan Thomas of Newsweek.
Our job is to bash the president.
That's what the media does.
Our job's to bash the president.
Now, Newsweek is government-run media.
Evan Thomas, Friday night on MSNBC.
Got a question.
Question was this.
You remember 1984?
That wasn't 100 years ago.
Reagan, World War II, the sense of us is the good guys in the world.
How are we doing?
Listen to this answer.
We were the good guys in 1984.
It felt that way.
It hasn't felt that way in recent years, so Obama's had really a different task.
Uh, we were we were seen too often as the bad guys, and he has a very different job from from Reagan was all about America.
And you talked about it.
Obama is we are above that now.
We're not just parochial, we're not just chauvinistic, we're not just provincial.
We stand for something.
I mean, in a way, Obama's standing above the country, above the world.
He's sort of God.
He's the he's gonna bring all different sides together.
He's bringing nobody together, but there you have it, government-run Newsweek Evan Thomas, he's a god.
Obama is a god.
Reagan was parochial.
Reagan, he only cared about America.
Uh Obama is above that now.
He's not chauvinistic.
We're not just provincial.
Ronald Reagan was not provincial.
Ronald Reagan understood American exceptionalism.
Ronald Reagan understood America's greatness.
Ronald Reagan understood America's role in the world for good.
Mr. Thomas Barack Obama sees America's role in the world as not good.
It is offensive to the sensibilities of millions of people to hear a member of the state-run media refer to a half-black, half-white human being with no experience running anything of substance referred to as a god.
He may be president of the United States, but he's not a god.
Sadly, too many people look at him that way, which is why they can watch with their own eyes and experience with their own lives, the destruction of their own lives economically, and still find a way to hold the man responsible for it, Barack Obama, blameless.
We'll be back.
Sit tight.
If I might correct the architect of the collapse of the Soviet Union, well, the partial architect Ronald Reagan helped as well, that would be Mikhail Gorbachev.
Mr. Gorbachev.
The Soviet Union was destroyed by freedom.
It was destroyed by capitalism.
It was destroyed by American exceptionalism.
Socialism as an opponent to capitalism is what died with the Soviet Union.
Communism as an opponent to capitalism is what died.
And that, ladies and gentlemen, is what Barack Obama inherited.
Barack Obama continually, childishly, immaturely, blames predecessors for all of the mess that he and he alone has compounded.
If he wants to talk about what he inherited, I'd like to put it down on the record what he inherited.
The problem is he inherited it temporarily.
He's in the process of destroying it.
Barack Obama Inherited greatness in a nation.
He inherited the birthplace of the individual.
He inherited the defender of liberty at home and abroad, the United States of America.
He inherited the opportunity to lead a nation of sheer exceptionalism.
A nation of equal opportunity, a nation which featured its citizens the right to fail and to try and try and try again.
He inherited the financial center and capital of the world.
Barack Obama inherited the country that has successfully championed capitalism and widespread prosperity.
He inherited a nation which liberated billions of people who lived in oppression.
He also inherited great responsibility.
He inherited the responsibility to lead this great nation, the world's lone superpower, a nation oriented toward the good of humanity.
He inherited the responsibility to preserve and strengthen the free markets and economies that made this the greatest nation in the history of human civilization.
He inherited the responsibility to continue the philosophy and the tradition of a country founded on Judeo-Christian morals, ethics, and principles.
He inherited the Constitution of the United States.
He did not claim the right to remake it, to rewrite it, to change it.
He swore to uphold it.
And he's in the process of wreaking as much damage to the Constitution as he can get away with with nominations like Sonia Sotomayor as he is wreaking damage to the U.S. economy.
Barack Obama did not inherit a mess.
He leads a mess.
He inherited the United States of America where anything is possible.
And greatness has been delivered to the world time after time and after time in the form of private sector inventions, innovations, advancements in products that improve people's lives for over 200 years.
He inherited a country of individuals energized by their liberty and strengthened by their character.
Barack Obama inherited the leadership of the greatest collection of human beings in the history of human existence.
And what has he done with this inheritance?
He has run around the world and apologized at every stop he makes for what he considers the sins, the immorality and the unjust unfairness of the way he perceives the United States of America.
He inherited a country that liberates the oppressed, as I said.
He inherited the greatest economy in history.
He inherited that nothing more, nothing less, plus the Constitution.
There is nothing to apologize for.
It is childish, it is babyish, it is immature, it is unbecoming.
Anyone who holds the office of President of the United States to run around crying like a baby while lying about the mess he inherited, because he didn't inherit a mess.
He inherited years and decades of stewardship from the Oval Office of the greatest nation in history.
In his mind, he inherited a flawed social experiment.
He has now made the mess.
That is the United States economy.
He is making a mess of United States foreign policy.
There is a lot to be proud of of this country, but you don't hear much about that from the Oval Office or wherever Obama's teleprompter planted.
We don't hear people in his administration talk about how proud they are of this country and how proud they are of the people who make this country work.
There is a lot of work to be done, but not the way Obama is proceeding.
He is creating more work for future generations to reclaim their birthright, that is the greatness of this country.
Barack Obama is destroying what others before him preserved and expanded upon.
He's now saying we can no longer postpone health care.
Just like we couldn't postpone stimulus, we couldn't postpone TARP.
We now can't postpone health care.
If he gets what he and the Democrats want, single-payer national health care.
Your kids and grandkids can forget the American dream as you and your grandparents knew it.
Couple people with an email.
Rush, that was great.
All that was why did you have to refer to Obama's half black and half white?
You nobody's gonna focus on that.
I intend them to focus on it.
Remember the context.
Evan Thomas said he was above America, above the world.
He's a god.
Barack Obama is a human being.
He is not a god.
I was simply trying to, shall we say, emphasize that proclamation by describing his humanity.
He is not a god.
And we'll be back much more straight ahead.
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