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Feb. 24, 2011 - Rush Limbaugh Program
36:41
February 24, 2011, Thursday, Hour #3
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Yeah, you remember the General Motor plant that is being closed because the new owners were trying to get a $15 an hour starting wage, which is what workers non-unionized at Toyota make.
And the plant closed rather than the unions give to this cut in starting salary.
Now the reason I mention this, we had this guy from Seattle, former teamster, or a current teamster, I forget which.
You hear these people in Wisconsin say it's about the jobs.
It's not about the jobs.
The guys at the upper level care about keeping their income and their benefits, but they're not interested in spreading the wealth.
If it's going to cost them any money.
Greetings and welcome back, Rush Limbaugh the EIB network.
It was the it was the stamping plant in Indianapolis.
And that stamping plant in Indianapolis just shut down a couple of months ago because the United Auto Workers would not allow a new starting wage of $15 an hour, which is the going rate everywhere else.
Now you know what an ugly word is to teachers' unions is choice.
Two words, actually.
School choice.
Anything that allows a parent to choose something other than the public school, forget it.
Democrats only care about choice when it comes to free abortion, not anything else.
And here's a story from uh last January, a month ago.
From Camden, New Jersey, two efforts to reverse some of the stunning police layoffs in one of America's most dangerous cities failed today.
A judge ruled that he will not force Camden, New Jersey to bring back 167 cops who were laid off earlier in the week.
Later, a union for most of the officers rejected a deal containing concessions, which would have put the majority of them back to work.
So the union at large, Camden police officers said no to concessions.
We'll take the layoffs rather than have it cost us any money.
The layoffs reduced the size of the police force by nearly half.
Now, the next time you hear that all this is going to cause police forces to be cut, and you want to blame a government agency for it, in this case in Camden, New Jersey, it was the cops themselves who did not want to bring back laid-off cops because it might cost everybody some money.
So 167 jobs were lost.
Mr. Limbaugh, Mr. Limbaugh, that's very clever, but ultimately it's a city, it's a city's fault because the city refused to pay everybody a living wage.
That's what they want you to think.
But what the caller from Seattle said, you throw it back in the lap of the union and let them decide.
And he um had a point.
The Wall Street Journal has a story running today, the headline, U.S. pushes mortgage deal.
Now, if you've been paying attention and you hear that headline, you say uh what mortgage deal?
How many have we had?
The Obama regime is trying to push through a settlement over mortgage servicing breakdowns that could force America's largest banks to pay for reductions in loan principle worth billions of dollars.
So this is mortgage forgiveness.
This is the regime's way of dealing with the foreclosure problem.
Punish banks for making loans by making them eat not just the interest, but a good deal of the principle of some of these underwater mortgages.
So once again, you have the regime tearing up and making it impossible for a segment of the economy to do business.
Punish the banks for making the loans in the first place, and then eat the loan, not just the interest, but a good deal of the principle of some of these underwater mortgages.
Now, the idea here is to ease credit, which is Obama's top priority, easing Credit.
Supposedly that will make it easier to get a mortgage and get housing prices up again.
How can it fail?
Jeez.
Oh, we are so doomed.
Terms of the administration's proposal include a commitment from mortgage servicers to reduce the loan balances of troubled borrowers who owe more than their homes are worth.
Well, Acorn ought to be very proud.
This is the fulfillment of their mission.
And of course, it's easy when one of your own is president.
You simply go to the bank and say, look, I mean, this is the subprime mortgage all over.
It's it's it's it's okay, you're gonna in order to keep these people in their houses, reduce their loan payment.
Bank, you eat it.
Well, hello, that's what led us to this problem in the first place.
The banks are not going to eat it.
They're gonna find a way to make what they're being forced to eat back.
So the vicious cycle here just continues.
Making making banks eat these loans is gonna make loans harder to get.
This is not gonna ease credit.
It's the exact opposite of what the regime claims they want to accomplish here.
This is gonna cripple the economy.
It's not gonna, it's not gonna it's gonna cripple the housing market.
If this was the way to make it all work, then we'd all have free houses.
I I folks, it is I don't care anymore.
I know you talk about ignorance or naivety, good intentions or whatever.
This is simply destructive.
Purely and simply destructive.
Back to this union business here again for a second in Wisconsin.
The governor there.
If he doesn't get these minor concessions, he's simply gonna have to lay off public union workers, including teachers, starting as soon as tomorrow.
And it doesn't appear they care.
This is what the guy from Seattle was telling us.
They don't care about the layoffs.
That's not what's they're not worried about the loss of jobs here.
People at the upper echelon and uh series of uh well, it's it's a story from um a website called Channel 3000.
Boy, do we find them or do we find them?
We find the most obscure sources you've never heard of.
State employees receive preliminary layoff notices.
Lisa Fitzgerald, wife of Republican Senate Majority Leader Scott Fitzgerald, is among a group of 34 state employees who have received preliminary layoff notices.
Superintendent Jeremy Beale said the screw board sent layoff slips to all 34 members of the teaching staff, including librarians and counselors.
Beale said the move is in response to the uncertainty of the state budget repair bill.
Superintendent said that the district is following the advice of the Wisconsin Association of Screwboards, which urged local scrual officials to decide on staff cuts by Monday or risk having those layoffs challenged later in court.
So the layoff notices to Wisconsin teachers have been sent and received.
Back to the mortgage story.
The regime pushing the new mortgage deal.
So...
Making banks eat more of their loans.
Now there's a companion story to this that's very relevant.
Right?
It's from Fortune magazine.
Problem bank ratio at 23-year high.
We have fewer banks in this country than we have had for at least 25 years.
And of these remaining banks, more are at risk of failure now than even at the height of the Great Recession, which has officially been over for 20 months, they've told us.
Fewer banks, more problems.
That's one take on the state of the banking industry via the latest review issued by the FDIC.
The number of banks fell for the 25th straight year in 2010.
FDIC data show the agency's deposit insurance fund now covers about 7,600 banks in That's down 25% from 1999 levels, 58% below the 1985 peak.
So, one in nine banks, the story goes on to say that one in nine banks at risk of failure.
That's 11.5%.
One in nine U.S. banks is at risk of failure.
And here comes the regime punishing banks for making mortgage loans by making them eat not just the interest, but a good deal of the principle of these underwater mortgages to loosen up.
I mean, if I didn't know better, he's trying to wipe out every bank except his.
He probably goes back and forth.
Whoever, who was over for dinner the other night?
Jamie Dimon?
I mean, who are these favored guys running all these investment banks?
Lloyd Blank Fine at Goldman Sachs.
Ben Bernanke.
What in the world, folks?
And all the time we're told that we're in the midst of a recovery with a laser-like focus on jobs.
Let's move to Ohio, shall we?
The Reverend Jackson was in Columbus, Ohio yesterday in a Teamsters Union rally.
The monochrome coalition Reverend Jackson spoke.
We have a portion of his remarks.
You're gonna hear uh responses from the crowd, and there's an unidentified woman that you will hear here as well.
But Jesse tells them that we bailed out the billionaires, but we failed to feed the roots of the tree.
Save the workers!
Save the workers!
Save the families!
Save the workers!
Christmas time we bail out the billionaires.
That's right.
February, cut the income in the heat assistance, cut states workers, and cut bill rates.
We've got to feed the roots, not just the leaves.
That's right.
Workers must not be the scapegoat.
Right by a rather profound economic crisis.
You had the great rally yesterday.
Yes, we did.
That's uh that's we have we have to feed the roots, not just the leaves.
Uh the official Obama criticizer is asking a question I frankly don't understand the question.
Would you share your question with the audience?
I'm not sure if you're interested in this.
That's right, exactly right.
We have to feed the roots, not just on what I'm leaning.
What do you mean you've got to put the roots not at the leave?
What does that mean?
You're asking me?
I'm asking you.
We have to feed the roots.
You're not going to anchor man.
You got to feed the work not just to leave.
What do you mean you've got to feed the work not to leave?
Well, I would assume that what the Reverend Jackson means here is you have a tree.
You got a tree.
And you have the roots.
Got the root.
The root.
But the root.
Okay, we got the rut.
But the root.
The rut is underground.
Okay.
Rut is bathed in soil.
At the rut in the soil.
The rut is in effect dirt.
Rut dirt.
The leaves are people like me.
The leaves are the bankers and the and and the Republican conservatives.
And we are watering the leaves.
We're feeding the leaves so they get richer, but we are ignoring the rut in the dirt.
If the water on the leaf, the water gonna fall down, gonna hit the root anyway.
So how are you gonna feed the rut and not feed the leaves?
I don't understand this.
So feed the root, you're gonna feed the leaves.
Everything will get feedback.
Because what you're saying, so I understand that what you're saying is the only way to feed the leaves is to feed the roots.
That's why I'm saying it.
Because if the ruthless doesn't get fed, then nothing gets up to the leaves.
Because as you know, if you spray water on the leaves, the leaves, it doesn't help them.
Right.
They don't absorb nutrients.
They absorb nutrients only from the ruts.
That's what I'm saying.
Everything gets from the root.
So your point is that the ruts are being fed.
So the Reverend Jackson is misleading the flock here.
As always.
I don't know what the man is talking about.
Everybody knows you got to feed the root.
If the free root, everything, the leaves and everything, you feed the root, everything cool.
Well, there you have it.
Well, here there's there's there's more here because the uh the Reverend then got the crowd fired up with uh with a little verse.
To the race.
Not goal.
Switch.
Only low.
Oh, weep sometimes.
We cry sometime.
We bring play in dual.
All night.
pull out because joy, joy, joy, real joy, joy, joy, joy, joy, joy, joy, joy, joy, Come to the mall.
Get the morning time, Parker.
Get the morning time.
Thank you.
Okay, it's um.
Well, no, you can't dance to it.
The beats kind of hard to figure here, including the lyrics uh are not explicitly clear either.
Uh joy, joy, joy, real joy, real joy, joy, joy, joy is coming to the morning.
It's morning time workers.
It's morning time.
The only problem is that the leaves are getting all the water.
The ruts are getting nothing.
We gotta feed the ruts.
The ruts get zilch and the leaves are getting all the food.
Joy!
Joy in the morning.
Scary thing is.
Scary thing is the crowd understood it.
Oh no, ladies and gentlemen, please tell me it isn't so.
CNN has the shockingly sad details.
The daughter of slain African American activist Malcolm X has been charged with defrauding the 70-year-old widow of one of her father's bodyguards.
Malika Shabazz, who has been wanted in New York since 2009, was arrested Friday in Mars Hills, North Carolina, for allegedly stealing more than $55,000 from New York resident Kalua Bakar between August of 2006 and November 2007.
According to a DA statement in New York, she faces charges of third-degree grand larceny, third degree criminal possession of stolen property, second degree forgery, first doesn't stop here.
First degree identity theft and first degree falsifying business records.
All of that for 55 big ones, the daughter of Malcolm X, charged with defrauding the 70-year-old widow of one of her father's bodyguards for crying out loud, folks.
Is there no shame left out there?
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Dennison Franklin, Wisconsin.
Hello, great to have you on the EIB network.
Hi, Rush.
What an honor it is to talk to you.
Thank you, sir, very much.
I'm near 50, so I can cross off one of those bucket list items.
Well.
Um The first to tell me that.
Uh oh no, it's true, too.
Uh I can verify what you're saying about the lawlessness in Wisconsin.
Yeah.
Um, it's really it's really a shame what's going on here.
And of course, it's extending now up through the country.
I mean, with the Defense of Marriage Act and the border on Arizona and the oil drilling.
Um, it's a difficult situation, but what we feel like here is that we've been disenfranchised.
We feel like our vote's been taken away.
We voted for the government in Wisconsin, the uh governor and the vote has been taken.
This is an excellent way of putting it.
You have seen your vote taken away.
You voted a governor, you voted a legislature, you voted specifically.
This man and these people said what they were gonna do during their campaign, and now a lawless bunch of Democrats are denying that from taking place in the democratic fashion.
Exactly.
Um I wanted to get hold of Jesse Jackson when he was here in Madison to see if they would be interested in filing a civil rights lawsuit, but I guess I couldn't get near him for that.
Do you think the Justice Brothers would take the case?
Well, I think if you want to get close to Jesse Jackson, you need to dress up as a rut.
So you said you would tell us when it was time to panic.
Is it time yet?
No.
Okay.
No, no, no, no.
No, then contrary to that.
This is the time to gird loins.
This this this I mean, this is actually as as disheartening and as frustrating as this is, it's a great opportunity.
We've not had this kind of open display of near dictatorial power in this country in a in my lifetime.
This is the greatest opportunity we've had in a long time to identify what the problem of the country is and snuff it out.
And it's gonna be hard work.
It is going to be these people, their very existence, their financial existence, their way of life, their standard of living is tied in to all this fraud.
That's what's gonna make getting rid of it so hard.
But it's going to be well worth the effort.
Wisconsin.
Folks, it is time we realize Wisconsin is not Egypt.
Wisconsin is Greece.
And we're back, Rush Limbaugh, the cutting edge of societal evolution.
I need to bring back the official Obama criticizer, Mr. Bo Snerdly, an emailer disagrees with the concept of uh needing to uh nourish the ruts before the leaves can get any nourishment at all.
Listen.
Uh, dear rush, if not for the leaves, the tree would die.
For example, you peel off a strip of bark around the entire circumference of the trunk of the tree, the tree will die.
If you tear off all the leaves of a tree in the spring or summer, and that tree will die.
It'll get zero nourishment.
Hello, chlorophyll, hello, photosynthesis.
That's what the leaves are for.
Now, the the the emailer says nothing about the absence of the leaves during the fall and the winter and how the tree gets nourished.
But what is what is your take on this?
Because where we last left it, uh the Reverend Jackson was saying that you need to uh water the leaves, but the leaves only get nourishment via the ruts.
F first of all, uh I want to say something here.
Just bring it up about photos photosis.
It's how irrevelevant.
What we're talking about here.
You fit the rut.
That's what Jesse Jackson was talking about.
He was not talking about foot.
You're talking about fitting the rot and fitting the leaves.
Everybody know.
If you pass the plate and not fill with hate, you're past the plate, you got to hit everybody.
You hit the root first.
This has nothing to do with photo.
All right.
All right.
But what about the bark?
The bark is an equally uh sensitive part of the tree.
If you if you rip a strip of bark around the entire circumference of the tree, by the way, circumference being all the way around it, uh, then the the tree will also die no matter what you do with the ruts.
Look.
You won't talk about strip.
I'm not gonna talk about that kind of strip.
You want to talk about stripping?
I'm not talking about stripping no bark, okay?
First of all, who in the right mango talk about stripping bark and feeding ruts?
You don't feed what stripping bark.
I don't understand what this man is talking about.
Well, it's a woman.
Uh even worse.
Wendy from Las Vegas.
Stripping what?
We're not we wouldn't know what's talking about strip we're talking Well, you have a good point when she talks about stripping the bark being from Las Vegas, it could mean anything.
What we're talking about here.
Well, apparently photosynthesis.
Uh That's the bottom of photosynthesis.
The chlorophyll of the leaves help to nourish the tree.
What she's telling you is that you don't know what you're talking about.
No, well, she's telling you what she's trying to do is to disrupt the message of unity and hope that we are threatening to the peoples of the United States.
You have you do not understand roots, miss.
Understand your roots, and everything else will be.
So you're gonna stand by the notion.
This has nothing to do with photo synthesis.
This have everything to do with roots.
All right.
And without the ruts, there are no leaves, so the argument's basically specious.
That's it.
That you said that's it.
All right.
Just trying to help.
Ladies and gentlemen, everybody wants to get on the act here.
Photosynthesis.
And oh, what about this?
Let me ask you one more thing here.
Because right up you're out of here.
If the tree gets nourished via chlorophyll via photosynthesis in the spring in the summer, there aren't any leaves of the tree in the fall and the winter.
What happens then?
The tree, it living.
Because you see, you need the tree.
You see.
The tree is somebody in the winter.
In the summer.
It's still got the ruts in the winter.
This is the ruts must be fair.
That's right.
It is somebody.
It has to have hope in those months when there are no leaves on the tree.
And in the spring brings the renewal.
And that's hope, and that's change.
All right, there you have it.
Happy to be able to um have it.
The uh official Obama criticizer, Mr. Bosnerdly sounding himself as he's in a rut.
I've I'm not, I'm just kidding.
I just I couldn't avoid the uh the line.
Where are we uh where are we going next?
Rich White Plains, New York, great to have you, sir, on the EIB network.
Hi.
Rush, how are you?
Rush, I heard something the other day I just could not believe.
Uh Donald Trump says he's a three handicap.
He's about a five or six.
I've played golf with Trump.
Here we go again.
Really?
Here we go again.
We're gonna it's it's Captain Stir the excrement day.
Uh where did you hear Trump's a three?
Who told you that?
He said it himself, and uh I I think he's tending to embellish because he's thinking of running for president.
Well, now he might be a three at certain courses.
Um people would be a three at uh at Augusta, others would be a five at Pine Valley.
It just depends.
But look at I'm just gonna tell you I have played golf with Trump, and I've I've played God with Trump shot a 69 at his course here in uh in in West Palm Beach.
Who who shot the 69?
Trump did.
Wow.
Really?
And you were there.
I saw it.
I saw him hole out from two greenside bunkers.
Okay.
Okay, good.
I like to verify Rush.
Okay, I saw him hit a bunch of 300-yard drives.
The guy's got a swing speed of 110 miles an hour.
I'm not kidding you.
Yeah, I I look at I'd heard that too.
I that that's the that's not the fun thing about playing with Trump is he's constantly bragging about the course.
And you ever see a course like this is the greatest course in the world.
I don't care where you go, you're not gonna find a better course for this.
Whack.
300 yards down the hill.
He keeps talking to you about it.
And telling you how you need to join.
And you're making a deal.
You'd have a hard time.
I no, look, I'm not gonna say I have gotten, I have gotten more hate mail over that Trump call earlier this week than anything.
I got more hate mail over that than I got over Michelle and her short ribbed dinner.
I kid you not.
I am a sellout.
I I was accused of being a sellout because of what I said about Trump's political donation to Rahm Emanuel.
You would not you I it it in 20.
What is this?
22nd year.
Oh, yeah, it's gonna be the worst, I admit it I played golf with him.
Twenty-second, twenty-third year.
Uh I and I folks, I am I continue to to to to be surprised by uh look at this, the guy calls out of blue.
He wants to talk about union busting.
Oh, he wants to get me to agree that Trump's fudging his handicap.
Chris, Gulfport, Mississippi.
Welcome to the EIB network.
Hello.
Thank you, Russ.
Uh, Mississippi Gulf Coast Army Dittoes.
Thank you, sir, very much.
Um, I had one question, I'll do this quickly, but um I you were mentioning that President Obama wants to uh wants the banks to forgive some of the interest and some of the principal.
Yep.
So these people can actually afford their homes and you know continue to live in them.
Yeah.
What I was wondering is after 2012, when a Republican president is is actually voted in and the home prices begin to rise again.
Are the banks going to be able to keep the profits on those homes as well?
What do you mean?
Well, I'm just saying they're they're riding off all this, you know, all the interest and a lot of the principals, so that they're actually gonna be paying or the owners are actually gonna own pay what is uh what's actually the home is worth.
No, that's the same.
When the when the property value start going up, are they are the banks gonna collect that money as well?
They're gonna be able to get that money, or are the owners who have not even paid what the homes worth gonna keep that money?
Well, I don't assume anything is going to change in that sort of with the Republican election thing in 2012.
I think the point that we need to focus on here.
Um in all candor, I'm not I'm not trying to obfuscate here, but I really, you know, people you hear the story, one in nine banks is at risk of failure.
We have fewer banks in this country than we've had in 25 or 30 years, and now we got more rules on these banks that they've got to continue to eat their own profits via government order, another government program.
The banks are being told they're gonna eat these loans of underwater mortgages.
Okay, so let's say that a bank fails.
Big whoop, Obama nationalizes it and owns it.
See, that's that's that's where this is headed.
One in nine banks risk failure.
Well, that TARP really worked, didn't it?
What was TARP?
TARP was supposed to save the banks.
TARP was supposed to free up credit.
It's the exact opposite has happened.
Banks are not being saved, and there's no new credit expansion.
The stimulus, yeah, that really worked.
In fact, there's a report today from the CBO, the stimulus actually, this is the third revision of it, by the way.
The stimulus actually cost 38 billion dollars more than Obama said.
This is the third revision up.
So the stimulus didn't work.
TARP didn't work, except that they did.
They didn't work for the expressed public purpose, but they work for Obama's purpose.
We now know that the stimulus bill was all about saving union jobs, thus saving union dues, thus preserving Democrat contributions being received from Democrat Union members.
We've now learned that stimulus was nothing more than a slush fund.
Two-thirds of the stimulus went to unionized teachers and other workers in the public sector, whose money via dues eventually ends up with the Democrat National Committee.
Obama for president campaign, wherever it goes.
But it ends up with Democrats.
It was a slush fund.
It was not about new roads and bridges.
It wasn't about new schools.
It wasn't about new jobs in the private sector.
TARP was not about saving the banks.
It's It was something else, but it wasn't about that.
So one in nine banks risk failure.
Banks go under, big deal.
Obama nationalize them.
He's got it all figured out.
It's no big deal to Obama.
That's that's the way to look at it.
You say, well, when the economy recovers a Republican president, what's ha what happens with the uh the new value in these homes?
It's gonna take a while for these homes to regain their value.
It's not gonna happen overnight.
You know, we don't know yet that there isn't gonna be a double dip in this so-called housing bubble.
We're by no means out of this problem, and he's just made it worse.
And there Will be a double dip in the housing market if nobody's able to get mortgages to buy new houses.
The prices will continue to decline if you can't get a mortgage and the banks are being forced to eat their current mortgages.
I mean, where are they going to get?
Why would they make any new loans if they're going to be forced down the line to eat them in this market?
So I don't know how you avoid a double dip.
So you have TARP, stimulus, all these other bailouts, Obama's latest budget, it all adds up to one thing.
He is not business friendly.
He's campaign contributor-friendly.
Pays to play, baby.
Everybody else is on their own.
Pays to play.
Plays to pay.
Also works.
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George, South Windsor, Connecticut.
Hello, sir.
Great to have you on the EIB network.
Yeah, Russ, you know, that that one teacher, or I don't think he was a teacher who was defending his wife who was a teacher who thought that you were blaming all teachers for the lack of reading skills for some of these students.
But I find it ironic that the teachers will be the first ones to take credit when SAT scores or CAP scores go up.
They want to say it's all about them.
They don't want to talk about the guardians.
I guess that's the new politically correct term.
So they're willing to take credit when things go well, but when they don't, uh they want to pass it off to the guardian.
And you know, there was a study out recently that it's almost $2,000 more to educate a child.
It's like $10,000 in the public school where it's $8,000 and in the private schools, and for that $2,000 shortfall, you get an additional 40 points in your SAT scores.
So I think you should be a little less sensitive about this issue and concentrate more on getting rid of the bad teachers, um, and not taking such credit for well, you know, it's interesting.
I I got a note after that conversation from uh actually a couple of them from people.
I don't think you knew what he was saying, Rush.
You kept interrupting.
Now, what he was trying to say is that the biggest problem is the home and the parents, and if the parents aren't interested, and if the parents aren't even if the parents are gonna spend any time with the kids, then there's nothing the teachers can do.
And I had the same reaction to that that you just had.
Well, if if if it's all on the parents, then why do we need teachers?
If the parents make I'm not, by the way, I am not saying that the parents in a good home life and you know, study and all that are irrelevant.
You know that.
Don't misunderstand.
But I get the guy's point here.
And I'm glad you called, sir.
I appreciate it.
George and South Windsor, Connecticut, and we gotta go.
Well, the final mission on the manned space program in the United States happens in about an hour and a half.
The shuttle goes up against discovery, goes up at 4:30, and that's it.
Bye-bye, Sputnik Moments.
Hello, Muslim Outreach.
And whatever else NASA is going to be used for.
Tomorrow's Friday means open line.
Friday means we can't wait.
And we'll see you then.
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