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June 6, 2011 - Rush Limbaugh Program
36:31
June 6, 2011, Monday, Hour #1
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Welcome to today's edition of the Rush 24 7 podcast.
It's good to be back.
I haven't been here since when.
I think like maybe December.
Check into the hotel in New York and they said, You haven't been here in a while.
I said, not that long, it was only December.
That's a long time.
We need you here.
I'm glad to be back, but I've got a challenge today.
I do not want to depress the audience.
I don't want to be Mr. Doom and gloom.
There's nothing worse than it.
Some guy coming on the radio, the world is going to end, the economy is terrible, you're all going to lose your jobs, the stock market's going to fall apart.
No one wants to hear that even if that is what's going to happen.
So what you're going to hear from me is I think some realism.
But in the end there are reasons to be optimistic.
Let's get into this.
The Democrats are panicking.
They had a plan and they were convinced it was going to work.
This thing was fell into their lap.
The economy fell apart in 2007 and 2008 when the housing bubble blew up and the credit markets fell apart.
Corporate profits declined, the stock market went down.
Candidate McCain didn't know what to do about it.
And the next thing you know, Barack Obama was president of the United States.
When you're the president, a brand new president, the absolute best thing that can happen to you is to come into office when an economy is hitting rock bottom.
Because all you can do, if it's indeed hit rock bottom, is improve it.
Whatever Obama was going to do was going to be an improvement given the fact that he was inheriting something that was screwed up when he got in there.
They figured that this was going to be perfect.
You've got a four-year cycle.
We need to start fixing the economy.
It's going to gradually get better, and right around the time that I have to run for reelection in 2012, it'll be roaring ahead.
They had the message planned.
We inherited a mess.
And now we have this incredible boom.
Reelect me.
That was the plan.
That was the script.
Let's carpet bomb America with nearly a trillion dollars in stimulus spending.
Let's throw that out there.
That'll work.
That was the beginning, middle, and end of their economic plan.
Bomb the country with stimulus, raid the Federal Treasury to the point that we threw so much money out there that it couldn't help but work.
And things would gradually get better, and we'll take all the credit for it.
It's not working.
And they don't know what to do about it.
Want me to prove my point?
What is the Democratic plan right now to improve the American economy?
What is it?
I'd ask some Democrats in the audience to tell me what it is because they haven't said what it is.
Have you you've been listening to President Obama?
You heard the comment from his economic advisor on Friday, well, this is a bump in the road.
They called this a bump in the road.
They were referring to the terrible economic reports that came out late last week.
On unemployment, it's not getting better at all.
Fifty-four thousand new jobs created, way below the about one hundred and eighty thousand so that economists were projecting.
The thing that's scary about that is that job growth isn't picking up.
In fact, it's slowing down.
The trend is still, I admit, up.
We did create jobs in the economy.
We didn't lose net jobs in the last month.
But the number of jobs increasing keeps going down from month to month.
If this trend continues, and I fear it will, either next month or the month after that, we're going to have net job loss.
As it is the unemployment rate jumped from nine to nine point one percent.
So the news on unemployment was terrible.
The factory orders number was even worse.
That's a leading economic indicator.
The Democrats can try to make the case, don't worry, unemployment will get better.
Unemployment's always the last thing to improve in a recovering economy.
We all know that unemployment is a trailing indicator.
Give it time, give it time, give it time.
How do they explain the fact that new factory orders are barely growing at all?
Factory orders is new activity.
Factory output is new activity.
That's slowing down.
So they're being thrown these questions.
You watched any of the Sunday talk shows, the Democrats there were how do you explain the fact that the economy isn't getting any better?
Well, let's see.
Nancy Pelosi offered up her best answer.
She was on Face the Nation, which believe it or not, is still hosted by Bob Schiefer.
Well, isn't tonight the uh debut of Scott Pelley on the CBS evening news?
Hi, that'll work.
That'll save.
I don't know that it matters who who hosts the CBS evening news anymore.
Didn't work with Katie.
I mean, unless they can reincarnate Cronkit, I don't know what they're going to do.
Anyway, Nancy Pelosi was on Face the Nation.
Let me quote from the report.
House Minority Leader Nancy Pelosi, Democrat California, called new unemployment figures from May disturbing, but rejected Republican presidential frontrunner Mitt Romney's assertion that President Barack Obama has failed the American people.
If the president, here's the key.
If the present president hadn't done what he did, the situation would have been worse.
That's going to be the line.
If we hadn't done stimulus, if the president hadn't stepped in, things would be even worse.
So that's what they're apparently going to run on.
Yeah, the economy stinks, but it would have been even worse had we not been here.
How much time do they need then?
When under their own scenario are things going to get better.
Wall Street Journal read an editorial over the weekend mocking these comments.
They point out that the last time that we had a comparable situation when President Reagan inherited an economic mess from Jimmy Carter.
And let's just grant for a moment that what Carter did to the economy is the same thing that Bush did to the economy.
I don't buy that.
But let's play it out on their terms.
Bush is their Carter.
At this stage in the Reagan expansion, after a comparably deep recession, the economy was growing by 7% a year and the jobless rate was plunging.
This time the economy is growing by less than 2%, and we still have 6.8 million fewer jobs than when the recession began.
In other bad news, the average duration of those out of work jumped by 1.4 weeks to 39.7 in May, and the percentage of those jobless for at least six months climbed by 1.7% to 45.1%.
So the people who have been out of work are out of work for a long, long time.
There's nothing in these numbers that indicates that we have a recovery.
The numbers are always good in the early stage of a recovery.
Why?
When we look at the economy, we use percentages.
When you have a low number or a bad number, any number that's an improvement looks good percentage-wise.
If 2009 is compared to 2008 and 2008 was bad, the number's going to look good.
If 2009 is bad and 2010 is better, 2010's number is going to look good.
Even comparing to bad years, the numbers that we're seeing here are anemic.
Here's my theory.
My theory is that the economy sank in 07 and 08 because of an aberrational situation.
President Bush was not blameless.
Part of it was his fault.
He pursued the same weak dollar policy that President Obama is pursuing.
As a result, interest rates were too low for too long.
They were artificially low.
This resulted in a housing bubble with mortgage rates as low as they were and housing exploding.
There was an incentive for lenders and for home buyers to just keep buying housing, knowing that housing was going to go up and everything's going to work out.
You won't have to put anything down in a mortgage because in one year your house is going to be worth 20 to 25% more than it is right now.
You immediately have equity.
We know how it worked.
And everything was booming so well that we created a derivatives market that everybody in Wall Street was part of, and we all wanted to jump in on this game, and the House of Cards fell apart.
The housing market tanked, and that drove down the credit markets when the derivatives all fell apart.
Several of the banks were in trouble.
We had to bail out Freddie Back and Fannie Mae, AIG almost went under.
A lot of major financial houses were in trouble.
That's what happened.
There wasn't anything fundamentally wrong with the American economy then.
You merely had a bubble that burst, and we paid the price for it.
Once that price was paid, things were going to improve.
The American economy has always had a business cycle.
Things go up, they go down, and things go back up again.
I believe that any improvement that's occurred since President Obama took office was the natural American business cycle of recovery.
The reason there hasn't been more of a recovery and the reason why we may be headed toward another recession.
And that's what's staring us in the face, folks.
We're staring at potentially another recession.
If the job numbers turn negative, if the growth numbers, which are barely over one and a half percent right now turn negative, that means we're in another recession.
It's because of the policies of Obama.
This isn't Bush's economy, and this is not the 07-08 recession.
This is Barack Obama's economy.
He's even admitted this in his own terms.
We were told last year, I remember doing this show almost exactly one year ago at this time because Russia was otherwise occupied exactly one year ago at this time, and it was right as they were launching recovery summer.
Remember that 2010 summer was going to be recovery summer.
They were convinced that the recovery would be taking place because they were convinced that that's when the full impact of stimulus and their policies would take effect.
Instead, it's been just the opposite.
The stimulus plan not only didn't work, it's killing the economy.
The only jobs that were created by stimulus occurred in the public sector.
Public sector job creation on its face is good for the person who gets the job, but it's not good for the rest of us because you've got to create about five private sector jobs to pay for the one public sector job.
What stimulus did was explode the deficit without any real impact on the private sector economy, and it's the private sector economy that gives us growth, it's the private sector economy that produces taxes, it's the private sector economy that creates innovation, it's the private sector economy that results in corporations expanding and going out and buying things.
None of it happened.
We put all of the money into stimulus, government jobs are created, and the deficit has exploded.
So here you are looking at corporate America, seeing a deficit that's through the roof, the knowledge that the only answer that the guy in the White House says, well, let's just do more stimulus.
If he had his druthers, that would be his plan.
They're fearing that there's going to be an increase in taxes, and they see absolutely no reason at all to invest in this economy.
Corporate America is on strike.
They are terrified of this president.
And when I say corporate America, I don't mean the big guys.
I mean the middle ones and the small ones.
They are the ones that create all of the jobs.
They are fearful that the president is going to raise their taxes.
They hear his rhetoric that the extension of the current tax rates is going to end in two years.
They are taxed on individual rates.
They don't want to take the risk in an economy that they don't trust, knowing that if they do make money, he's going to take all the taxes away anyway.
This is Obama's economy.
He's made it worse by stimulus by blowing up the deficit.
Corporate America is terrified of what's going to happen to its tax rates.
Oh, and by the way, if you do hire anybody, that person's going to be covered under Obamacare.
It's my contention that this is all about the president, that he has created this mess, and it's going to get worse.
I'm going to expand on this a little bit.
The reason it's going to get worse is you Have in place a president who fundamentally despises the American private sector.
He doesn't like businesses.
He bends over backwards to trash them.
When he's asked about job creation, he starts lecturing corporations that they have some sort of duty to hire.
The American economy is a free market capitalistic economy.
Yet the President of the United States is somebody who fundamentally doesn't like free market capitalism.
Is it any surprise that a guy who doesn't believe in the system is unable to make the system work?
My name is Mark Belling, and I'm sitting in for Rush.
1 800 282 2882 is the phone number at the Rush Limbaugh program.
I'm Mark Belling.
I'm today's guest host.
My premise, President Obama wrecked the economy with stimulus.
He doesn't know how to fix the economy.
You've got two parts of the American economy and both are scared to death of him.
The consumer is all screwed up.
Many Americans are underwater with their mortgages because of the decline in housing values, they're plowing whatever they're making back into their mortgage, they're in no position to spend money.
Secondly, you've got nine percent unemployment rate, real unemployment rate of around 20%.
How can you have a real recovery when nine percent of the Americans who want to work don't have any jobs?
Simple common sense, when you have a job, you're gonna spend more money than when you don't.
So that part of the economy is going nowhere.
On the corporate level, the companies that have done well, particularly because of exports because of the weak dollar, they don't want to expand and they don't want to hire here because they know that if they make any big money with their expansion, if the risk pays off, this guy's gonna turn a right around and tax them on it.
Because they know he doesn't respect the private sector, he despises it.
Every chance he gets, he's trashing some part of the American private sector.
If it's not the coal industry, it's the drug industry, or it's this industry or that industry.
This is a president who's trying to preside over an improving economy in corporate America, but can't because he doesn't like corporate America.
Let's go to the telephones, Columbus, Ohio, and John.
John, you're on the Russian Limbaugh program with Mark Belling.
Hey, Mark, how are you doing today?
I'm great, thanks.
Yeah, I was just calling uh you brought up a point there, and uh, you know, Barack Obama's policies have failed, and the the proof is in the pudding when we talk about quantitative easing one and two.
That that has allowed all these big investment banks and and and even like a bond company like PEMCO, which is run by uh Mr. Gross there, to uh get out of the bond markets and use their money to borrow from the uh Federal Federal Reserve window at zero percent, go out into the stock market and buy up all these equities, and that's why our stock market has recovered in the manner that it has over the last uh roughly two years since its fall in two thousand nine.
Well, what you're what you're describing, QE one and QE two from the Fed hasn't done a thing to improve the actual economy.
What you're saying is correct.
The Fed went out and it bought all this bond all these bonds, it intervened in the bond market, trying to create all of this liquidity.
The problem is is that if businesses don't want to borrow money because they don't want to expand because they're afraid of the president, doesn't matter how much money is available out there to be to be loaned.
As per intervening into the bond market, what does that have to do with getting some stability in the housing market?
People are still seeing the values of their homes declining.
Even if they're plowing whatever those who are working, whatever money they have back into reducing the size of their mortgage, they're in no position to go out and do any real spending in the economy.
None of the approaches of this president have been aimed at what the problems are right now.
You mentioned QE1 and QE two.
There's been blind faith on Obama's part in Bernanke.
He's looked to the Fed and said, Look, Bernanke, you've been reappointed.
Save me from this.
Get things better by 2012, because on his own the president didn't himself know which way to go, because this is a guy who's never thought about improving the economy for businesses or improving the economy for consumers.
Thank you for the call.
To Queens, New York and Vinny.
Vinny, it's your turn on EIB with Mark Belling.
Hey, Mark.
Um nice to hear you today on the show.
The uh last call has stole a little bit of my thunder.
QE1 and QE two is basically the Fed printing and pumping money into the market, which was something to write home about a bit.
Uh but now QE2 ends at the end of the month.
My question is twofold.
A, there have been whispers about QE3.
And B, if the Fed doesn't respond and do a QE3, which I don't think they will, and I hope they don't, uh, will that indeed kick us off into the second depression uh recession?
Well, you almost you almost said depression.
There are some people who are wondering how bad it's going to be.
If everything that's occurred in terms of this tepid recovery that we've had, and it's been tepid, two and a half, three percent growth at the peak, closer to one and a half, two percent, if it always because the Fed pumped all of this money into the economy, what happens when it stops pumping money into the economy?
Are we going to head right into another recession?
May well be the case.
That seems to be what's happening with the numbers already.
If the Fed pumps more money in, we're crashing the dollar even more, making our currency even more devalued.
They're in a no-win situation here because they won't do the things that will work.
I'm Mark Bellingham for Rush.
When politicians mess around with the economy, usually bad things happen.
I'm a great admirer of President Bush, but I think he made a couple of major mistakes on the on the economy, and it came from his trust in the Fed.
He, like President Obama, believed in having a lot of loose money, weaken the dollar, throw a lot of money supply out there, and it resulted in a housing market that was robust.
Great for President Bush.
The housing market moved up dramatically in the last decade.
It's a wonderful thing.
The problem was is that there wasn't any restraint on it.
Having a loose dollar policy also helped out American exports.
The problem was it helped create these deficits, and it created a housing bubble.
Everything was inflated.
We may not have had a lot of increase in the consumer price index in the last decade, and the inflation rate may have seemed low, but in terms of the assets that affect the American people, like housing, those were inflated, and they were inflated artificially by all of this easy money that was out there.
President Obama has followed the same path.
He tried to stimulate the economy by throwing all sorts of government spending out there, which didn't work because none of it ended up in the private sector at all.
It resulted in more government hiring.
And you've got the Fed that's been doing QE1, QE two, keeping the dollar down low, flooding the market with money, which does nothing to change inherently the economy.
If you've got a person out there with a three hundred thousand dollar mortgage, and the value of his house is now down to two hundred and thirty thousand dollars, what's he going to do to participate in this economy?
If you have an unemployment rate of nine percent, sixteen percent actual, how are you going to get real growth in the economy?
What has the president done to improve private sector employment?
What has the president done to stabilize the underlying economy that's resulted in the housing market declining?
Nothing.
Put yourself in the shoes of, say, this guy.
He owns a metal fabricator.
Twenty-seven employees.
I'm making them up.
That means he's in the middle market.
He makes stuff for another manufacturer.
His orders actually are up a little bit over the last few years.
Because of the weak dollar policy, his clients are having good export business.
So he's thinking maybe I ought to expand.
Maybe I ought to get a second facility.
Maybe I ought to go out and borrow $300,000 to add on here and hire six workers.
He's not doing it.
Because he knows that if it works and he makes extra money, Obama's going to raise his taxes because if he has 27 employees, he's probably paying his taxes on personal income tax rates, and he knows they're going to go through the roof.
He's okay, I'm not gonna and if I hire these people, what's Obamacare going to do?
He's not doing that either.
And he doesn't trust this recovery because he knows it's all been premised on exports, that it hasn't been American economic activity.
So what he's doing is he's doing okay in this period here.
Because his orders have been up and his numbers are up, and that's why we've seen some growth in the economy.
But he's not expanding and he's not hiring workers.
And he's got a president of the United States that looks at him and doesn't respect him.
Do you think that that metal fabricating owner wants to believe in the president?
Of course he does.
He owns a business in America.
He wants to grow.
He wants things to be better.
But he doesn't think this president believes in him.
That's the problem with our economic policy.
Instead of talking about more government stimulus, what we need to do is have a president who say, I'm going to bite the bullet, reduce the size of government spending, try to bring down our deficits so I can hold the line on taxes for the next five to ten years, so there won't have to be an increase in taxes.
This is the sort of message that could get corporate America to start moving again.
Instead, right now, every number that you look at is scary because even the ones that are going up aren't going up as much as they were.
Housing, nobody knows when that's going to bottom out.
The unemployment rate, I don't think it's going to be better a year from now.
When I'm back and I think I'm locked in right now, December and June doing this program.
That seems to have been the case the last five years.
When I'm back next June, I doubt that that unemployment rate is going to be any better than the eight point nine, nine point oh, nine point one percent that it's been every time I've done this show since Barack Obama's been president.
Let's go to the phones.
Maplewood, New Jersey.
Aren't you from there?
Chief of Staff of this program is from there.
This isn't you calling, is it?
We haven't been reduced to that on the Rush show, you know, having the staff call in.
That's what I had to do that when I was a host of a show in Oshkosh.
To uh Jeff in Maplewood, New Jersey, you're on the Rush Limbaugh program with Mark Belling.
That's pretty amazing.
I didn't know that uh one of the staff members actually came from Maple.
One of these staff members, one of the top like two or three, one of the one of the elite.
I think he keeps a really low profile there.
Wait which one is it?
Just out of curiosity.
Oh, HR.
Oh my god.
Um I'll have to look around.
Anyway, why I was calling was that the narrative could be the guy in the produce section asking for like the two-day old apples and looking for the bargains.
That'd be him.
Go ahead, Jeff.
Yeah, the uh Obama administration uh has basically been saying that, oh, the stimulus and their economic policies saved us from the brink of disaster, it uh stopped the slide of the economy, etc.
etc.
Well, if you take them at their word, and if you take them at their word that they saved two million jobs or three million jobs, whatever the made up number is, and most of the time people just complain that that's a made up number, which is fine.
But uh I would say if you take them at their word, why aren't they out there beating the drums left and right to do another stimulus package?
I mean, what they're talking about is Keynesian economics, which I think is probably the most important thing.
Well, the problem with stimulus, and I I I even think some Republicans miss this, is they act as though the create all jobs that are created are equal.
That's not correct.
When the a gu getting a government job is great for the person who gets it.
That I don't deny.
The benefits are great, the pay is great, the job security is great, it's great for the person who gets it.
But for the bigger picture, and our economy is the bigger picture, you have to support that job with four or five new private sector jobs, and that's what hasn't happened.
The president could I don't believe in stimulus, I'm not a Keynesian, but I do think you could have done stimulus so that it would have been a wash.
If he would have gone out and created all sorts of money and just doled it out to the private sector, corporate welfare, call it whatever you want.
Those corporations would have in the short term created jobs.
Now you would have had to pay for it because of the debt that you'd be creating creating by going out and doing all of this, but at least in the short term, there would have been stimulation of the economy.
Instead, we've had all of these jobs that are created in government, but no real increase in private sector hiring.
The only private sector growth has been for people who do work for government, the road builders and those who are in construction who are putting up government buildings.
Yeah, they've gotten jobs.
That's got gone on in the private sector.
But where else?
Nowhere else.
Instead, what the stimulus has done is blown up this debt.
The annual deficit is huge.
The debt is growing by incredible numbers, the debt service that we have is huge, and businesses know the only way that Barack Obama intends to get out of that is by raising taxes dramatically.
With that hanging over their heads, they're not going to expand.
They don't have confidence in the economy, and why would you?
Stimulus has blown up the debt Without doing anything to improve the private sector economy.
And we are a private sector economy.
We've got a socialist minded president, but a country whose economy is based on the private sector.
All these numbers you're looking at.
Growth, job growth, housing market, that's not government stuff.
GDP, that's not the government spending money, that's the private sector spending money.
We have to get the private sector moving again.
Instead, he put all of his eggs in the basket of stimulus.
It didn't work, and instead, it's harmed the private sector.
In the meantime, he's out there not knowing what to do next.
He's only trying to figure out how to explain the whole thing.
Thank you for the call.
I've got a New York Times piece from over the weekend.
Obama retooling 2008 machine for a tough re-election race.
They're talking about he's moved Axel Rod back to Chicago and he's hired every top Democratic strategist there is.
But listen to this paragraph.
Well, Mr. Obama will not fully engage in campaign activity until next year, AIDS said.
He is embarking on weekly economic focused trips throughout the summer.
Doing so will allow him to use his bully pulpit to show that he is focused on addressing joblessness.
The issue that more than any other could shape his electoral prospects, and that Republicans are using to assert that his policies have failed.
There's his economic plan.
He's going to run around the country and talk about how he's focused on it.
Nowhere in the president's reelection strategy is a plan to lower unemployment, merely to talk about it.
It's just Clinton all over again.
I feel your pain, the empathy.
At some point there's got to be a program.
There's no program here.
He's going to be, oh, hold this.
I'm f I understand the job.
I understand the job.
What's the jobs plan?
What are you going to do about it?
He doesn't know what to do about it.
He has no clue as to what to do.
He looked to Bernanke, we did QE one, QE two, we could do QE twenty seven.
None of that is going to change the fact that private sector employers are afraid of him.
They think tax increases are coming.
Obamacare is an absolute weapon aimed at right at their corporate profits, and the individual American is drowning in debt because of the housing market collapse.
None of this stuff that the president is doing aims at those problems, and those are the problems that are hanging over the economy.
I'm Mark Belling, sitting in for Rush Limbaugh.
Rush Limbaugh.
you Thank you.
I'm Mark Belling sitting in for Rush Limbaugh.
Rush will be back tomorrow.
There are a lot of naysayers in Russia's audience.
I know that.
They listen, they listen to Rush because the show is great, but they don't agree with our stuff.
And you're out there thinking right now that I'm making this up, that this is just rhetoric.
He doesn't hate the private sector.
He needs the private sector.
No, the president hates the private sector.
His hatred is to the point that he does things that damage the economy, the economy that he needs, and I can prove it.
You want proof?
Look at this Boeing deal.
Boeing.
Boeing.
Giant manufacturer of aircraft.
Built a plant in South Carolina.
They want to build one of their new planes.
One of the Rush is the uh jet expert.
He's uh he's into all that stuff.
All the numbers start to blend together on me.
One of the new dreamliners, is it the 767 or the 797 or the 787?
One of them.
They want to build it in South Carolina, which is in the United States of America.
And Obama's NLRB, the National Labor Relations Board is going after them.
Why?
Because the plant in South Carolina is not unionized.
Boeing's manufacturing operations in the state of Washington are unionized.
The NLRB is suggesting that Boeing is negotiated in bad faith, that it's moving work to South Carolina solely because these are non union whatever.
Boeing wants to build these planes here in the United States.
Those are American jobs.
What do you think American private employers are going to do?
The ones who right now have been looking at moves to the southern states in order to lower their labor costs.
What are they going to do if they find that the NLRB goes after them, that's the federal government goes after them every time they move production to the southern part of the United States, every time they move to states where there isn't a union in place.
They're going to make that stuff overseas.
That means more jobs lost in the United States.
From the perspective of Obama, he I know what Boeing's up to.
The union workers and Washington State.
They don't in South Carolina, they're taking it out.
I'm not going to stand for it.
I owe my allegiance to the AFL CIO.
He is so driven by his ideology.
His hatred of the fact that Boeing's trying to lower its labor costs so they can make a profit on these planes.
That he's going after them for doing something that creates jobs in the United States.
Does he not understand that he needs to lower the unemployment rate?
If Boeing makes its airplanes overseas, the unemployment rate goes even higher.
There are certain realities that people in corporate America understand.
They're in a very competitive environment.
Their material costs are exploding.
Everything, every metal that there is is going up in price.
It isn't just gold and silver, it's copper and aluminum box, all of them.
They're all going up.
They're competing with international competitors that are making things in the second and the third world.
They're competing with Chinese operators.
They have to do everything in their power to control their costs so they can sell their product at a profit.
Those that want to remain in the United States are looking at ways to lower their costs.
I understand if you're a union worker in a union state that that's not a good thing for you.
But it's good for the country if those jobs remain here.
The president doesn't think it's a good thing.
His anti-corporate mentality is leading him to make decisions that not only are not in the best best interest of our economy, they're not in his own best interests.
He needs more unemployment like he needs a hole in the head.
His presidency is being threatened by it.
But he can't bring himself around to supporting Boeing's decision to make planes here in the United States because the AFL CIO doesn't like the way in which they're going to make the planes.
Doesn't like the fact that they are non-union jobs that are going to be making.
The unemployment rate doesn't differentiate between union and non-union positions.
But the President of the United States differentiates that way.
The President of the United States thinks that jobs are not created equal.
And it's the President of the United States whose economic vision is leading us into the mess that we're in.
I'm Mark Belling sitting in for Rush.
Mark Belling sitting in for Rush Limbaugh, offering up the thesis that it's Obama that's killing the economy.
What we had of a recovery was going to happen anyway, and the downturn that we're headed into is because of his policies.
He's not making things better, he's making things worse.
To Woodstock Vermont and Kim.
Kim, it's your turn on EIB.
Hey, uh, thanks, Mark.
Um, just I wanted to say right on right on.
I'm really enjoying your energized perspectives on the uh state and trajectory, the economy, and pulling back the curtains on a lot of these really dangerous illusions that a lot of the mainstream media just helps perpetuate.
What I was gonna comment on, you've actually uh commented uh in while I was uh on the wait line uh that there's a lot, addition to the other things you listed, there's so many other things that Obama just puts pressure down on uh potential investors and job creators.
You mentioned the L N L R B and also um the EPA regulatory stuff, the uh fears about the impact of Obamacare and this fuel, what you knew this uh energy policy which doesn't exist, which is just putting the the boot to the throat as you as you uh Well, he wanted to do cap and trade, and what he didn't do through cap and trade, he's trying to do through the bureaucracy.
All of this stuff is aimed at corporate America.
Look at his latest lecturing of the auto companies, even though he still runs one of them, and while the fuel efficiency standards are still not as good as they ought to be, he just likes to pound on them.
He sees corporate America and the job providers as bad guys.
So we've got to regulate, we've got to make sure they do this, we've got to make sure that they do that.
We've got to lean on them, we've got to do this, we've got to do the other thing.
All of this stuff is not a good Environment for the creation of jobs.
You have a fundamental problem when the President of the United States is presiding over an economy that requires the creation of private sector jobs when he doesn't like the private sector.
Clinton didn't have this hangup.
Clinton liked one thing himself.
He was willing to embrace a stronger economy because he knew he needed it so he could be re-elected and elected in the first place.
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