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July 19, 2011 - Rush Limbaugh Program
37:15
July 19, 2011, Tuesday, Hour #2
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Yes, America's Anchorman is away, and this is your undocumented anchor man sitting in.
No supporting paperwork whatsoever.
Don't forget that Rush returns tomorrow for three hours of the real deal.
All American, made in America, excellence in broadcasting, not your cheap, outsourced minimum wage foreign knockoff that you have to put up with uh today.
Rush returns live.
Twelve noon Eastern, nine AM.
Yes, America's Anchorman is away, and this is your undocumented anchor man sitting in.
No supporting paperwork whatsoever.
Don't forget that Rush returns tomorrow for three hours of the real deal.
All American, made in America, excellence in broadcasting, not your cheap, outsourced minimum wage foreign knockoff that you have to put up with uh today.
Rush returns live.
Twelve noon Eastern, nine AM Pacific uh tomorrow.
Now, I I said I gave a figure yesterday.
I said uh the United States government uh borrows a hundred and eighty-eight million dollars every hour.
Fifth of a billion, give or take.
And uh and a couple a couple of people uh said, Oh, I've heard you use this figure before.
Uh what's it about?
Chuck, Chuck of Reno Nevada.
Uh Chuck uh says, Where did you find these numbers?
They are so huge it's hardly believable.
If these are credible, I will contact my senator and congressman as well as many others.
Well, your senator in Reno Nevada is Harry Reed, so that's your problem right there.
He's gonna if you t if you say to Harry Reed, Did you know uh did you know we're borrowing a hundred and eighty-eight million dollars every hour, he'll go, No, I know, isn't it terrible?
We really need to jack that up.
We need we need to borrow, you know, four hundred million dollars an hour at least.
Uh it's not hard to work out, uh, Chuck, and and everyone should understand this, because I think one of the problems is when you start talking about trillion dollar this, trillion dollar that, these figures are so unreal that you don't actually work out what it boils down to in real numbers every hour of every day.
The if the official estimate of the deficit for the federal budget is one point six five trillion dollars.
In other words, uh they they they have got certain things they're committed to spending money on, and they don't have enough money, and the money they don't have enough of boils down to one point six five trillion dollars.
This is the biggest budget deficit run by any government anywhere in the history of planet Earth.
One point six five trillion dollars.
Uh by the way, before Obama took office, do you know what the highest uh budget deficit in history was two thousand and eight, Bush's last year?
Four hundred and fifty-eight billion dollars.
So the deficit this year is uh over three times as big uh that as that budget busting deficit was uh just three years ago.
One point six five trillion dollars.
Now get out of pocket calculator.
You're gonna need the extra wide pocket calculator to get all the zeros on.
But so you're gonna have to upgrade to the premium pocket calculator, and then you're gonna have to p buy a pair of supersized pants that come with a pocket big enough to get the supersized pocket calculator in.
Otherwise you can't get all the zeros on.
But here's how you do it.
One point six five trillion dollars.
Uh divide that uh by three hundred and sixty-five.
You get four and a half billion dollars.
That's what the United States government right now is borrowing every day.
It's gonna borrow four and a half billion dollars today, it's gonna borrow four and a half billion dollars tomorrow, it's gonna borrow four and a half billion dollars on Thursday.
It doesn't take the weekend off.
It's gonna be borrowing four and a half billion dollars on Saturday and Sunday.
Now you divide that four and a half billion dollars uh per day, you divide it by twenty-four, the number of hours of the day, and you get one hundred and eighty-eight thousand three hundred and fifty-six one hundred and eighty-eight million, three hundred and fifty-six thousand, one hundred and sixty-four dollars and thirty-eight cents.
Uh that is what the United States government borrowed on your behalf in the first hour of the show.
They're gonna be borrowing another one hundred and eighty-eight million, three hundred and fifty-six thousand, one hundred and sixty-four dollars and thirty-eight cents on uh on your behalf in the course of this next hour.
Let's talk to a man who knows all about where this leads.
His book is called America's Ticking Bankruptcy Bomb, How the Looming Debt Crisis Threatens the American Dream and How We Can Turn the Tide Before It's Too Late.
Uh This book is by Peter Ferrara, who has worked in the uh Reagan and Bush Senior administrations.
Great to have you on the Rush Limbaugh Show, Peter.
Glad to be here.
Now uh just explain to us first what what bankruptcy means in terms of a a sovereign nation.
Uh what what what is what is leading us toward bankruptcy?
Well, what is leading us towards bankruptcy is our national debt is already at the highest level in U.S. history, except for World War II, and official U.S. government projections show that on our current course we're going to rock it right through that all-time record, rock it right up to the level of national debt suffered by Greece when they fell into national bankruptcy and continually rocketing up right on past that.
And uh uh and the national debt doesn't even cover everything uh the government owes.
I mean, that doesn't even include the unfunded liabilities of Social Security, Medicare, the unfunded liability of federal civil service pensions, federal military pensions, veterans' benefits, the liabilities of trillions of FDIC guarantees, trillions of FHA guarantees, or the trillions in debt by state and local governments.
There's another four trilli 4.4 trillion state and local government debt.
Uh you have then unfunded liabilities of state and local government pensions, retiree health care promises.
So uh, you know, the national debt is just actually the tip of the iceberg.
Now now now the the official figure for the national debt is just shy of fifteen trillion.
If you had to if you had to add up the real uh uh unofficial federal, state, municipal entitlement, the whole big package and you had to put a number on it.
What what what's what's the kind of ballpark we're talking about?
Well, if you're going to include the unfunded liabilities of Social Security and Medicare, it's over a hundred trillion dollars altogether.
Uh more like a hundred and twenty trillion dollars to use the broadest uh uh measure of the unfunded liabilities of Social Security and Medicare.
Now now once we once we start uh having to pay uh interest at at normal interest rates uh uh on our c just on our current level of debt, because right now interest rates are historically low.
But if they were to uptick to what they were in the nineties and the turn of the century and first decade of this century, we would be paying uh extraordinary amounts just in the interest on the debt, not paying down the debt, but just in the interest would be consuming a huge percentage of uh of tax revenues every year, wouldn't it?
Yes, I discussed this in the book.
Like if interest rates rise, this is just going to create an accelerating downward spiral because the debt interest goes up, so the debt the deficit goes up, which causes, you know, more uh debt interest to go up.
I mean, already President Obama's own 2012 budget projects a federal deficit for this year of one point six trillion dollars.
That means forty-three cents of every dollar the federal government spends is already uh uh borrowed, and if you have just Social Security, Medicare, Medicaid, and the federal welfare programs could assume ninety-five percent of all federal revenues.
The remaining federal revenues are not even the fet the interest on the federal debt is another ten percent of federal revenues.
So do the math, ninety-five plus ten, we're already over a hundred percent of all federal revenues uh right there.
And if interest rates go up, that just gets worse and worse.
Yeah, so just hold that thought because basically what you're saying is we're already at the stage where we're having to borrow money to pay the interest on the money we're borrowing.
Right.
And look at the vulnerability that creates.
Suppose we go into another recession now when we already have a deficit of one point six trillion, how high does that go?
And uh the war even worse than that, the book as the book explains, President Obama's already scheduled a recession for 2013.
Right.
Well, because you know, in twenty thirteen most people don't know that the already in current law you're gonna have an increase in the top tax rate of virtually every major federal tax because the Obamacare tax increases go into effect and the Bush tax cuts expire.
So the top two income tax rates are going up nearly twenty percent, the capital gains tax is going up nearly sixty percent, the uh the uh the the uh tax on corporate dividends is going up nearly three times, the Medicare payroll tax is going up uh sixty-two percent for the nation's small businesses investors and job creators.
And so uh and that's in and that's in it on top of the fact the fact that we already have a corporate tax rate that's the highest in the industrialized world.
So Yeah, na na now just stick with the with this corporate tax rate because you've got a you've got a solution here because uh the j just uh people talk about you know the corporate tax rate in Ireland and uh and all the rest of it.
Everyone assumes when uh Obama is demonizing businesses and talking about outsourcing and everything, that people are kind of taking it to uh some banana republic somewhere uh where where uh you know where it's uh just a cowboy kind of culture and uh every man for himself but in fact it's what we think of as big government states actually have significantly lower corporate tax rates.
Canada's corporate tax rate is uh less than half of the U.S. uh corporate tax rate right now isn't it?
Right.
The federal corporate the the corporate tax rate in America counting federal and state is nearly twenty five percent I'm sorry it's nearly forty percent.
Right.
Federal and state is nearly forty percent.
Even communist China has a twenty five percent corporate tax rate.
The average in the European Union is below twenty-five percent and as you just mentioned Canada's rate today is sixteen point five scheduled to go to fifteen percent next year.
Germany is below twenty percent.
American business is uncompetitive in the global economy today with this tax burden, yet all we hear about Obama is demanding still further taxes.
Yeah and I I think uh I I mean I find it very hard to understand why they don't understand that those businesses that can relocate will be relocating after twenty thirteen.
Tim Horton's the donut chain that operates on both sides of the border was a Delaware corporation and last year it announced that uh it was reorganizing itself as a Canadian corporation to take advantage of these tax rates.
People can people can move uh and businesses can move to get away from this stuff.
Well you already have capital flight out of the United States and that with that example you just cited is just one example of it.
And that's already beginning.
Now our laffer predicted the coming crash of twenty eleven based on the expiration of the Bush tax cuts alone.
Now that's been extended to twenty thirteen but what's brewing for twenty thirteen is far worse than the expiration of the Bush tax cuts alone because now you've got the Obamacare taxes on top of that and then you got all the Obama regulatory burdens building to a crescendo with EPA effectively imposing another tax through its cap and trade implementation,
the Obamacare employer mandate requiring employers to buy the most expensive health insurance possible for their workers effectively another tax, you've got the energy restrictions, you've got the Dodd Frank uh regulations on the financial community, all of that is g uh of just further taxation, further costs on on business this is brewing up another recession.
So if you have a deficit of one point six trillion and you go into a recession, how high does that that deficit go?
And is the world really going to finance a deficit of of that magnitude?
Yeah that's that's right.
I mean and I think you mentioned Greece earlier there's a difference in scale here that I think kicks into play.
I mean to to to to stick with the idea of bankruptcy it's possible to imagine uh an a de a small developed nation such as Iceland in effect going into chapter eleven and emerging at the other side uh still more or less as a recognizable Iceland.
Uh when you're talking about small Nordic countries of two million people, four million people, it's possible to imagine that scenario.
But it's very difficult to imagine America going down this path for much longer and being able to correct in the way you in the way you propose, isn't it?
I mean the scale of disaster here is is is uh something else entirely well yes it is in fact just think about the uh that scenario we painted out of another recession in uh twenty thirteen that has national defense implications because that creates a national defense vulnerability because if you're in a sustained military conflict that becomes very expensive.
And so then who's going to lend us the money if we're faced with a really serious you know sustained military attack against us or our allies is China going to lend us the money to fight that?
Uh and and aren't we just then inviting an attack when you have that kind of vulnerability.
So you see that that how these things can spiral out of control.
Yes eventually everything comes up for grabs.
Just uh just a a quick final point.
You have in your book serious proposals for entitlement reform uh I certainly support I've I'm not a you know Bill Gates or anyone but I've uh run small companies in in several countries and I'm astonished at how a land that I was thought of as a beacon of of liberty has, as you say, the highest corporate tax rates in the developed world.
But people always say, well you're up against you're up against political reality.
You're up against political reality here.
What are what are the odds of your proposals being taken up by uh this depraved political class in Washington.
Well most of the book is about the solutions and in fact we go into great detail on how entitlement reforms that's a central theme of the book.
And um what and what the book shows is that if you can modernize these programs to rely instead of on tax and redistribution on modern capital, labor and insurance markets, you factively you actually can achieve the liberal social welfare goals of those programs far more effectively, actually serve seniors and the poor far better at just a fraction of the cost of the current programs.
And exhibit A, all this is based on real world ex uh models that have actually worked.
So exhibit A is the welfare reform of 1996, where they reformed one program, AFDC, the poor act, two thirds of the poor got off of the program within uh a couple years, they actually got higher incomes as a result, yet the pro that the reform saved the taxpayers uh fifty percent.
There are another there are dozens of additional federal welfare programs you could do the same thing with that are slated to cost ten trillion dollars over the next ten years.
If you have anything like the same result, the poor would be greatly benefited, and you the taxpayers would save trillions in the pro in the process.
The fact that you can reform these programs to actually serve seniors and the poor far better by modernizing them.
You know, the Census Bureau reports that we spend four times what's necessary to bring every poor person in America up to the poverty level just by sending them a check.
So obviously there's a lot of scope there for actually doing well by the poor and saving the taxpayers a fortune.
The same can be done with Social Security, personal accounts, savings investment, and insurance where you'll they'll actually earn higher benefits in the future through those market investment returns and social security even promises, let alone what it can pay.
But at the same time, it's the greatest reduction in government spending in world history as you shift the burden of paying for all those benefits from the public sector to the private sector entirely through the uh through the personal accounts.
And I have actually ongoing uh uh projects with specific members of Congress to introduce bills to implement some of these entitlement reforms.
And what's exciting about it is the political prospects of it become more realistic when you say, well, actually, you can actually serve people better if you would modernize these reforms.
And the book explains that in detail and the real world examples on which all these proposals are based.
Okay, you're optimistic uh uh on that, Peter.
But let's just say, let's just say that uh the political will isn't there and uh America's ticking bankruptcy bomb ticks on.
Uh what's America looking like under in uh in ten years under that scenario?
Uh Argentina, more and more like Argentina.
Uh you've got where you had you know, a hundred years ago, Argentina had the same standard of living as America.
And then they went off and followed Juan Peron and uh his neo-socialist policies, and they collapsed downward into a third world country.
And we're on that same course unless we make changes.
That's uh that's very true.
Thanks.
Uh thanks very much for talking to us, Peter.
Peter Ferrara, the book is America's Ticking Bankruptcy Bomb.
It's out now, and as Peter says, uh the great strength of the book is it's about solutions to prevent it.
If you don't want to be like Argentina, circa 2020, if you don't want to be in a perinista swamp of corruption by 2020, this book uh has got a lot of good ideas on how to get out uh uh of it.
Mark Stein Infrarush, lots more straight ahead.
1 800 282 2882, Mark Stein Infrarush.
Uh some people are slowly beginning to get the message of Peter Ferrara's book.
Did you see this magnificent uh conference call from Steve Wynn, the Casino tycoon.
Steve Wynne is basically Mr. Vegas.
And he's on a uh he's on his uh big uh call uh on his uh conference call with his uh with his executives uh and he's saying this administration is the greatest wet blanket to business and progress and job creation in my lifetime.
Now this guy isn't he's not a Republican, he's not right wing.
He says I'm a democratic businessman and I support Harry Reid, because he thought that's that's what you do, right?
You're you you play both sides.
You're you're uh you you operate in the business climate you're given and you donate to to the establishment and the establishment takes care of you.
That's how it all works.
And he thought that he was he would be fine if he did that.
And Steve Wynn.
Steve Wynn, nobody's idea of a right winger, nobody's idea of a conservative, nobody's idea of a Republican, he says, I'm saying it bluntly, this administration is the greatest wet blanket to business and progress and job creation in my lifetime.
My customers and the companies that provide the vitality for the hospitality and restaurant industry in the United States of America, they're frightened of this administration.
They're frightened to death about all the new regulations.
Our health care costs escalate, regulations coming from left and right.
Okay, Steve, I agree with Steve Wynn.
He's a great man.
He knows his business.
Uh he's done great things in Vegas.
But he understands that Vegas is going to be a ghost town.
It's just going to be what it was.
It's going to be a one horse town in the middle of a desert.
Uh if if uh the Obama administration makes what it has done in the last two years permanent.
If it establishes them as the permanent facts of life, Steve Wynn ain't gonna be in Vegas.
He's gonna be r running resorts in Macau uh or Hong Kong or somewhere like that.
Because nobody's gonna no American is gonna be able to afford to go to any of his uh Vegas resorts and have a great time there.
Uh it's just gonna be like uh in Mayfair when you go into the uh gambling casinos in Mayfair and it's just full of Saudi princes gambling and a whoring the night so uh the the night away.
And Steve Steve Wynne.
Nobody's idea of uh he's a Democrat, he gives money to Harry Reed.
That's that's how it should start, uh Steve.
Don't give money to Harry Reed this time.
Harry Reed is destroying his business.
Keep your money and give it to someone else who will correct.
Because if we don't correct, uh you're gonna be you're gonna be presiding over the ruins of Vegas.
There's not gonna be any point to being Mr. Vegas, because it's gonna be like Vegas was back in eighteen eighty three.
It's just gonna be a dust bowl.
Markstein for Rush, more to come.
Yeah, Rush is back tomorrow.
Mr. Vegas, Steve Wynne, uh is saying that is doomed.
Uh, because everybody is frightened of this administration.
Uh a lot of people, those of us who have business opportunities and the capital to do it, are sitting in fear of the president, and a lot of people don't want to say that.
They say, God, don't be attacking Obama.
Well, this is Obama's deal, and it's Obama that's responsible for this fear in America.
That's what Steve Wynne, the big Vegas resort owner, Mr Mr. Vegas, that's uh what Steve Wynne is saying about Obama.
Years ago, I uh I was in New York, I saw Steve Wynne and Frank Sinatra walking.
They came it was up around, I think Fifth Avenue or Madison, up around the plaza or the Carlisle, one of the big fancy hotels.
I saw Steve Wynne and Frank Sinatra walking hand in hand down the sidewalk.
Look like look like uh today, of course, we think it was just uh, you know, one of those nice uh gay couples that have been married uh by uh Nanny Bloomberg at Gracie Mansion.
What?
Well what Mr. Snudley says stop.
What did I think it was then?
Well I thought I'll tell you what I thought it was then, uh Mr. Sledley, 'cause I'm uh b basically, look, I'm not saying Frank Sinatra's gay, because if Frank Sinatra was gay, uh he had the all-time greatest cover, you know, he was uh uh dating Ava Gardner and Lana Turner and Lauren Bacall.
I mean, that is a man who devoted some serious effort to beards if if he was uh if he was secretly gay.
So I'm not saying that.
I thought I thought it was just that uh, you know, Frank was a little elderly and Steve Wynne was just being nice to him and holding his hand uh to help him negotiate the sidewalk.
And uh and I found out later, I found out later, in fact, that Steve Wynne, uh Mr. Vegas has this little eye problem uh that's affected by sunlight.
So when he's out on the street, he sometimes finds it hard to see where the kind of curbstones are and everything.
So Frank, understanding this, was holding Steve's hand to help Steve.
The older guy was holding the younger guy's hand to to help Steve down the street.
And the problem now that Steve Wynn has that's enough with the showbiz anecdotes.
The problem now i Yeah, I I'm glad I explained.
I wouldn't want I wouldn't want this to, you know, uh Rush Limbaugh show declares Sinatra secretly gay.
I wouldn't want to see that on the National Inquirer.
Could get could get all kinds of trouble.
It could be like the women's World Cup thing yesterday.
You know, no it could could run without in that thing.
But the problem now is that it's not uh whatever this was, 1994 or 95, whatever.
There is no one.
Frank isn't around to hold Steve Wynne's hand anymore.
He understands there isn't anybody to if you're in business in this country, there isn't anybody to hold your hand.
Uh because as uh as Peter Ferrara was explaining, they're coming for you.
Uh as bad as you think this economy is now, with basically uh nine percent unemployment, with uh basically two-thirds of the homes in Harry Reed's state, Nevada, two thirds of the mortgages underwater, as bad as you think this market is, the Obama twenty thirteen recession, when the Bush tax cuts expire, uh when the new Obamacare taxes uh kick in, when the new EPA regulations kick in.
Uh you wanna hear you wanna be around if Steve Wynn is still doing conference calls, uh he'll be doing them from somewhere offshore in the South China Sea by then.
Uh you you won't want to hear what he's got to say then, because as bad as it is now, it's gonna get worse if this stuff isn't reversed.
Let's go to Steve, not Steve Wynne, as far as I know.
Uh Steve in Raleigh, North Carolina.
Steve, great to have you on the show.
Thanks for waiting.
Mr. Stein, you you're my favorite stand-in host in part because uh you have such a great command of the Queen's English, you're so eloquently um display, you know, can can talk about the conservative point of view.
And uh that's one reason I I'm calling to ask you what do we have to do to get Marco Rubio to run for president.
He's obviously uh well spoken, a little young, but I even had a liberal friend of mine tell me this morning, say unless you get that guy to run, the other bunch of clowns that we have just aren't of the caliber of somebody that's gonna beat somebody like Obama, even if the economy's bad.
Now now wait, you say your liberal friend said to you, you know, Marco Rubio, he's the guy, he's the guy.
That's what he's saying now.
You imagine, you em you remember the way it was with Sarah Palin when they uh when John McCain picked her, and within twenty minutes uh she was subjected to the greatest character assassination.
They will do that to Marco Rubio.
Your liberal friend may tell you now that he likes Marco Rubio, but once Marco Rubio Rubio's on the ballot, they're gonna be uh destroying him just like they uh tried to destroy Sarah Paling and as they're trying to destroy Michelle uh Bachman now.
One problem that we've had in the past is I like people like Bob Dylan.
I even like John McCain, I even like George Bush, but none of them had any kind of eloquence in bringing the conservative point of view forward.
And Marco Rubio, despite his age, seems to be able to do that.
And I don't think it was my liberal friend was saying that he liked this person, but he was saying that he was saying the right things.
He was making common sense.
He was putting the ideas out there concisely and clearly, and I th I frankly think that the Republicans have all their best speakers on in talk radio.
Well well, uh Steve, I I take your point.
Let's let's let's just break it down though.
Because first of all, Marco Rubio says uh he he's left a little bit of wiggle wiggle room, but he's he's said he's not running for president.
He's left a little bit of wiggle room to say uh th to leave open the possibility of being the vice presidential nominee.
Because I think a lot of he's everybody's first choice for the vice presidential nominee.
But assuming that he means what he says on that, right?
And I agree with you.
What I like about this guy is that he thinks on his feet.
He thinks on his feet.
And I have a great problem.
I do not want to have another one of these candidates that uh the Republican Party somehow has to drive uh drag the great rotting carcass of the candidate uh over the finish line.
Uh because I don't want to be doing that any any uh anymore.
So the candidate we pick has to have a kind of coherent world view.
They have to have been around long enough uh to have a ca a kind of coherent uh philosophical world view and where those particular issues fit into those world view, that world view.
And that's why I have a problem with Mitt Romney.
Uh too often Mitt doesn't think on his feet.
He's lobbed a question uh that's a softball question, it shouldn't be that difficult to answer, and he gives last year's conventional wisdom.
He he's come out, he's concerned about, you know, uh whatever it is, climate change, just as everybody else has given up on it.
Nobody else cares about climate change anymore.
You're not gonna care about climate change uh when we're all scavenging for dog food in rat-infested rallies when the next Obama recession uh kicks in.
Uh he's picked up on uh last decade's conventional wisdom, and he does that too often, and I think that's the big problem with Mitt Romney.
And I want some guy who can s who can be in the presidential debate and uh think on his feet, think on his feet uh and devastate Obama in the way that John McCain couldn't, uh in the way that uh and in the way that Bob Dole, who, as you say, I got nothing I got nothing against Bob Dole.
He was a guy who'd been around Washington for a zillion decades, but so what compared to Clinton, you know.
Uh Bob Dole was uh was a great man.
He uh he got uh crippled and shot up uh in uh Italy in the war.
Uh but he he simply was not good enough at uh at thinking on his feet.
And there's gotta be there's got the candidate this time round cannot be one of those uh phony candidates who has to be fed everything by minders and when they misspeak, uh then somebody's gotta come out with a statement and correct the way they misspoke all that.
Uh nuts to all that, nuts to all that.
The the Republican movement in this country, the Conservative movement in this country, is entitled to a genuine candidate uh with a thought-out political world view who can think on their feet.
And if they don't fall into that camp, uh then they they shouldn't be in the game.
And uh given given those constraints, Steve, uh that should be enough for you.
We don't need a savior.
We're not in the Messiah business.
The Democrats are in the Messiah business.
Marco Rubio is a great senator from Florida, but he's not the Obama Messiah.
He doesn't bestride the liberal world like a colossus the way we were told uh that Obama uh did.
He's not someone who is going to be landing at the Berlin Wall and saying uh and beginning his speech, people of the world as if he's just landed from the heavens and come down to save us.
Marco Rubio is a great senator, uh, but he we are we are not the party that's looking for a messiah.
We look for our messiahs uh elsewhere, and when you're looking for a citizen executive, uh someone who thinks on their feet, someone who's genuine and someone who's secure in their philosophical worldview is what what matters, Steve.
I think in the things that you have have just talked about, he seems to be head over heels that way and only inexperience seems to be his only drawback to me.
And and like you said, I don't think that the Conservative point of view needs uh uh uh a lot of hoopla and everything.
I just need someone to communicate it clearly and be able to say why we do things, not just to say what we do, but say why we do things and why this helps everybody up and down the economic spectrum across the board.
Why economic growth helps every single person and why just giving a check to over half the people in this country right now is destroying us.
Yeah, yeah.
I I absolutely agree with you on that.
We need someone who can respond to things like that by saying, you know, when did it become normal uh for the role of the President of the United States?
When Obama said that line about I can't guarantee the social security checks will will go out.
When did it become normal for us to think of the President of the United States as this guy who hands us our allowance every month?
As you say, half the people in the country don't pay any federal income tax.
They look on Obama as like some 1950s sitcom dad.
He's the guy who mails your allowance.
But you don't want to get...
Steve, the the thing about this is you don't want to get uh t up uh expectations too high.
I certainly think it's time for some people to, you know, whatever they say, fish or cut bait, because uh this is this is the m the moment.
You know, if you're not if you're not it's no good saying, oh I'll wait till twenty sixteen.
I don't like the lie of the land.
Uh America, if you think you you are if you think you can be president of the United States, you need to get in the game now.
Because if this guy's unelected, you aren't gonna wanna uh see what America looks like by twenty sixteen.
So don't say, Oh, I'll wait till my moment comes, it'll be easier in twenty sixteen.
Um the British uh uh special forces, the SAS, their motto is Who Dares Wins?
And that's right.
Nineteen ninety-two, uh all all the smart money thought George Bush Senior, after winning the first Gulf War, he was unbeatable.
So m uh uh uh what's his name?
Mario Cuomo and all the hot shots decided sit out the ninety-two race.
And some schlub in Arkansas, nobody had ever heard of, uh decided uh yes, there's an opening here, and he got in there and he won.
Say what you like about Clinton, uh, but he lived up to that SAS motto, who dares wins.
And we need if you if if you're if you think you're a great president, but you'd rather sit it out till twenty sixteen, uh you don't have what it takes to be president.
Thanks for your call, Steve got to take an EIB profit center break.
We will return momentarily.
Mark Stein for us, you know, this is gonna be, I would say, the dirtiest and most vicious election campaign you've ever seen.
Uh basically the the media uh perpetrated a fraud on the American people last time.
The American people are culpable.
I mean, fifty-three percent of voters voted for Obama.
Uh but basically uh they didn't do the media didn't do their due diligence on that.
They sent everyone up to uh Wazilla to poke around in investigating uh second cousins of uh boyfriends of uh Sarah Palin's uh aunt's uh teenage babysitter.
Uh they had they were doing that all time non-stop uh and they didn't do any due diligence on Obama.
This time round, people have got the message on Obama Uh and so they're gonna they're gonna the palace guard uh actually they're not even the palace guards, they're more like this kind of eunuchs in the harem, the eunuchs in the Obama harem, uh the mainstream media, and uh they're gonna be uh they're gonna be uh standing around him protecting him even more.
Gallup, gallop, by the way.
We're being told now that the Republicans are getting the blame for all this uh debt ceiling stuff.
Don't you believe it?
Gallup's got a poll today uh showing Obama uh trailing uh generic Republican.
Generic Republican, Obama forty-seven percent, generic Republican 39%.
Do you know generic Republican?
I I like generic I mean I like Marco Rubio.
I like well, I I like Marco Rubio, I like uh Michelle Bachman, but I like uh generic Republican.
But you know, the media will be doing a number on generic Republican, just like they did to Sarah Palin and uh Michelle Buckman, you know.
I think uh uh who was it?
Bill Maher's guests were saying they wanted to have uh what was it, violent hate sex with Michelle Bachman.
Uh and uh uh they th no, they were saying they uh Bill Maher had a perfectly balanced liberal pl uh panel.
He had one uh liberal heterosexual male and he had one liberal gay male, and the liberal heterosexual male said he wanted to have violent hate sex with Michelle Bachman, and the liberal gay male said he wanted to have violent hate sex with Rick Santorum.
This is this is the level of p uh of political discussion.
Mill Bill Maher on HBO.
If you subscribe to HBO, uh you are paying for Bill Ma's uh sad, pathetic, loser liberal guests to fantasize to to explore their rape fantasies uh on TV for the cost of your subscription.
But you know, this this is they do it right, they're doing it now to Michelle Bachman, Rick Santorum.
Bill Maher's guests will be saying they want to have violent hate sex with generic Republicans soon, too.
Um Andrew Sullivan at Newsweek, the guy who thinks that Sarah Palin didn't really give birth to Trig Palin.
He'll be he'll be he'll be wondering whether uh generic Republican is really the mother or father of his or her child as the case may be.
Uh uh they're making jokes that Michelle Bachman's husband is secretly gay.
Well, they'll be making jokes that generic Republicans' husband or wife is secretly gay or lesbian.
So if you like generic, and I like generic, generic's uh I think generic what is generic, a two-term governor uh or a three-term congressperson.
Uh whatever, whatever whatever generic is, I think uh I'll I I like generic, but I think uh once they start doing the is generic really the mother or father of his or her child stuff, they'll be destroying generic Republican too.
So you don't want to worry you you've got to uh be ready for that.
This is gonna be the dirtiest.
This is gonna be the most vicious election campaign.
Uh in if you if you think it was bad uh through the years of this century, if you think with the Florida recount and then the 2004 and then 2008, this time round it's gonna be because this is make or break for big government and the whole the whole media democrat complex,
every single uh member of the palace guard, every single court eunuch in the mainstream media are gonna be protecting this guy uh like they used to protect the uh late period Ottoman sultans, the ones who were too inbred and uh and were kind of born insane and they weren't allowed to let out of the palace.
That's about Oba Obama is a bit like that.
It's not safe to let him uh wander too far from the teleprompter and all the rest of it.
The court eunuchs, the court eunuchs are gonna be Wrestle Snadley says it's gonna be fun.
It's gonna be fun, but it's gonna be real down and dirty.
Uh uh take take my word for it.
Generic Republican is uh generic Republican is gonna be roadkill by the time the media are through with them.
So be careful of that and be alert to that.
Mark Stein for Rush, lots more to come.
Mark Stein in for Rush on the EIB network.
Don't forget Rush returns, invigorated uh to take you through the uh rest of the week uh tomorrow with a full three hours, a premium strength, uh excellence in broadcasting.
And uh and I'd I'd like I was thinking about uh Rush's uh two if by tea ice tea, and I would like him to introduce a a New Hampshire brand called Live Tea or Die.
Can you take care of that, Mr. Snerdley?
I think it'd be nice for for us to serve at Ice Station EIB.
I think we should have uh uh a special New Hampshire flavor of the ice tea.
Live tea live tea or die.
Live tea or die.
Rush returns uh tomorrow.
Borders, the 40-year-old bookseller, no storybook ending for borders.
They could start shuttering.
It's 399 remaining stores as early as Friday.
The bookstore that pioneered the big box bookseller concept is gonna be leaving.
That's gonna be great uh for the general uh uh uh in agreeable atmosphere at the shopping malls.
Uh big empty, shuttered spaces where borders used to be.
Borders went into bankruptcy, and there will be no chapter eleven for borders.
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