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July 26, 2011 - Rush Limbaugh Program
36:40
July 26, 2011, Tuesday, Hour #1
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Welcome to today's edition of the Rush 24-7 podcast.
That's about time.
Everybody's starting to see it now.
It's only taken two years and what, seven months.
Heck.
Longer than that.
I mean, I saw it back during a campaign.
I'm talking about who Obama really is, this petulant, self-absorbed, egoistic, little man child.
Everybody started talking, even David Brooks is disappointed.
He still likes the substance, but he can't believe how childish Obama's acting.
You remember, folks, there was a book out there.
You women will remember this.
And by the way, hi.
You know who this is, you know what this is, you know how to get hold of what this is, so I don't want to waste any time with it.
Well, I'll give a number 800 2822 eight eight two.
I'm me, you or you.
We're doing what we're supposed to do.
Let's get started.
There's a book out there.
I don't know, some years ago.
I don't I I think it was written by a guy.
Might have been written by a woman, I'm not sure.
The book wise, he's just not that into you.
Oh yeah.
Now all the women are nodding their heads.
Oh yeah.
It was basically a how-to book for women to understand.
Look, the guy's not playing games.
If he doesn't call you back, it's because he's not that into you.
What do you mean it was a terrible book?
Oh, exposes secrets women should know nothing about.
See, Snerdley, this is where you you think you're a female expert.
What you don't know is that women know all the secrets anyway.
They don't need to be told what the secrets are.
The book didn't reveal any secrets.
It just depressed them.
Because it confirmed that they were right in what they what they were assuming.
They were hoping that that you know, hope always, you would hope, really, is an effort to prove to yourself that you're wrong when you know you're right.
That's what hope is.
And I'm not talking about the biblical sense, of course, uh, or definition.
And I think it's starting to become obvious now that we're just not that into Obama.
And he needs to read the book.
All of these speeches, and it's just it's counterproductive.
I think the reaction to the BAMster is hey, dude, we're just not that into it.
In fact, this is not even a think.
I mean, we know this.
You go back and you compare the messiotic idolatry people had for the guy during the campaign and the acceptance speech at Grant Park compared to now.
And it's uh it's absolutely true.
And my my good friend Pete Weiner, who worked in the White House for Rove, uh and therefore for President Bush, posted a piece of commentary magazine.
What is the date today?
Uh yesterday, our petulant and inept president.
And listen to this.
This is this is uh Pete's way of saying what I have said since I hope he fails.
It's been clear to some of us for a while.
Parentheses to Rush Limbaugh since the beginning in parentheses.
He doesn't say that, I'll just threw it in.
That Barack Obama is a man of uncommon self-admiration.
Quite thin skinned, and this is the biggie.
Increasingly consumed by his grievances.
I've told you people, this guy's got a chip on his shoulder, and it goes back to the way he was, well, probably born, and then certainly the way that he was raised.
And he's got a chip on his shoulder about this country and various aspects of this country.
And I just like the way Pete phrases it here.
Increasingly consumed by his grievances.
Democrats on Capitol Hill rapidly losing confidence in the president's competence as a negotiator.
That's true.
The yesterday CNN had a story.
We talked about how he's losing ground with liberals.
That was an attempt to warn the liberals.
Hey, you know, you guys, you can't abandon him now.
It's uh it's too crucial out there.
Uh, Con Carroll has a piece of the Washington Post, I'm sorry, Washington Examiner today.
Americans blame Democrats for the bad economy.
It's in a CNN poll.
Except CNN didn't report that part of their poll.
CNN completely buried the headline in the write-up for their latest poll of a thousand Americans.
Pessimism overflowing in new poll.
Reads the headline, and the article goes on to report quote while some expect economic conditions to improve, a majority 59% believes the economy will still be in poor shape one year from now.
It's the first time in a 14 years that CNN has asked the question that a majority has been pessimistic about the country's economic future.
The buried five paragraphs down is the fact that when asked, do you think Democrats or the Republicans are more responsible for the country's current economic problems?
Americans chose Democrats over Republicans by 38 to 35%.
And among independents, the gap is wider, 37-25.
So all of this fear in Washington that the independents have run away from the Republicans.
I'm sorry, like that NBC Wall Street Journal poll last week.
We were in Los Angeles.
Remember that bogus poll?
That poll was of adults only, and it tried to say that.
Well, forget the election results in November, because that's all changed now.
The American people love Obama.
The American people want Obama's plan.
It wasn't in the Obama plan to want, but nevertheless, that's what the poll tried to say.
And is that Boehner's office?
You're acting like you didn't know they were.
You're acting like you didn't know they were calling.
I sent out a giant uh message to everybody at 1012 said Boehner's gonna call whenever.
When he calls, put him off.
Okay.
Snerdley's on the phone in there, like what's the point of me telling people things are gonna happen when nobody hears it.
Okay, so you're in there setting it up now.
I talked to the speaker about 10 minutes before the program started, and he's telling me about the deal.
I said, why don't you come on the program and explain this?
He said, okay.
I said, my day is wide open in terms of guests since they don't have any.
So uh I said, pick a time when you've got some time and get back to us.
So he's just not getting back to us.
So it's gonna be uh 1240.
All right.
Now look, you call them back and you tell them there's gonna be a commercial break right after that.
Because I can't take the commercial break early.
That early in this.
I mean, I can't take commercial break at 1237, so you call them back and say they're just call them back and say 1245.
Yeah, that'd be the simplest way to do it.
Call them back and just say 1245.
Now, I've not lost my place here.
Buried five paragraphs down as the fact that when do you think Democrats or the Republicans are more responsible for the country's current economic problems?
Americans chose Democrats over Republicans by 38 to 35% margin, and among independents, the gap is even wider.
3725.
Independents blame Democrats as being more responsible for the country's economic problems.
So NBC Wall Street Journal poll last week tried to convince everybody that the independents had done a 180.
They're back in the Obama camp.
The independents had seen the light that they'd fled the scene, that they'd fled the coup, and it's not true.
The independents are becoming even more solidly anti-Democrat and anti-Obama.
So there is no good news, there's no trending good news for Obama in all this.
All these speeches, we're just not into it.
They're not working.
In fact, people are getting tired of seeing Obama.
And what happened last night, Boehner decided to do a response.
And lo and behold, the networks decided to cover it.
And lo and lo and lo and behold, Boehner was much better than Obama was.
I've actually got people who don't know much of anything, friends, sending me notes, saying, you know, Boehner looks pretty presidential.
There's a friend of mine who doesn't really know much, but thinks he knows a lot.
A lot of people like that.
You have friends like that.
Boehner looks pretty presidential.
Boehner's not going to be running for president.
He's where he is.
He likes what he's doing.
However, there is a caveat here.
When given the option of blaming George W. Bush, a majority of Americans still chose to blame the former president.
So they're a little schizoid on who to blame, but it appears to be turning.
And in the current iteration, when you ask people, Obama or the Republicans, who's responsible?
It's Obama.
Now we're making headway on this.
And CNN buried this.
You'd have to look long and hard to find this in the CBS poll, uh CNN poll.
But that's why we are here.
It's, I'll tell you, folks, it's very simple.
It's very hard to be a good negotiator when your two skills, your only two skills are arrogance and petulance.
When those are the only two things you're good at, it's really tough to be a good negotiator.
And the Democrats, the Democrats on Capitol Hill have gone public, some of them, and talking about how pathetic a negotiator they think Obama is.
And Bernie Sanders, the socialist from Vermont, grabs out by 25.
Bernie Sanders was on some wacko.
Left-wing radio program.
They syndicated probably on in five cities.
You know, but they say nationally syndicated.
And the uh question was how can we get a government that calls balls and strikes, quits running the country like it's a for-profit machine.
Now imagine that question.
How do we get a government that calls balls and strikes that quits running the country like a for-profit machine?
How do we do it?
He was asking that of Bernie Sanders, the socialists of Vermont.
There are millions of Americans who are deeply disappointed in the president.
It would do this country a good deal of service if people started thinking about candidates out there to begin contrasting what is a progressive agenda as opposed to what Obama is doing.
Reminds me of 1992.
Remember that?
I endorsed Pat Buchanan in 1992 just to make sure there was some conservatism in the presidential primary on the Republican side.
And of course it worked.
And the liberals, you know, they're all upset.
I mean, not the liberals.
I mean the communists are all upset because Obama is not communist enough for him.
Now, this also we have to allow is perhaps a ruse to continue this notion that Obama's some sort of a centrist.
But I don't think Bernie Sanders is on that reservation.
I don't think that they could corral.
I think Bernie's one of these guys, I don't think if you called him in the room and say, Bernie, look, we're going to play a little trick here.
Uh we're going to run a little scam.
And we need you to go out there and and uh you know start caterwalling about the fact Obama's not left.
I think Bernie Sanders would, you know, mutter some obscenities and walk out of the room.
I don't think he's the kind of guy to play ball that way.
He goes on this this fringe radio show, and I think he's generally ticked off that uh that Obama's cafing.
And I think I said this last week, we're getting I I think, so that's why I hope we do the right thing.
I think Obama will sign anything that comes his way.
I think what is the the Boehner deal is basically 1.2 trillion raise the debt limit.
There are more cuts than the debt limit goes up.
You got the commission, a lot of fear that the Democrats on the commission are going to raise taxes.
But in the original bill that Obama will get, there are no tax increases.
There is no new revenue.
There are, get this, there are some Democrats.
The Reed bill, Dingy Harry, has got some 2.7 trillion dollar reduction bill, but get it.
Get this.
Wait for it.
He is counting one trillion of his 2.7 trillion as the war's ending.
Afghanistan and Iraq ending.
That that's that's cutting.
As far as Dingy Harry's concerned.
So anyway, that's where we are.
We'll have the speaker on the program in about 25 minutes to explain all this.
Your host continuing to be blamed for what uh the left sees as a uh a national crash or shutdown.
We've got a lot of sound bites.
We'll do some contrast.
Obama last night and Boehner.
Did you watch Obama?
Yep.
You were mad what?
Mad at his lies, mad at him being on TV all the time.
Yeah, I that's why I'm saying we're just not into them.
All these speeches, and he doesn't say anything new, and it's the same attitude.
It's always somebody else's fault, crybaby stuff.
Yep, I said same corporate jets, uh shared sacrifice, uh balance, all this crap exactly right.
Exactly right.
I uh I didn't watch much of it either, I must confess.
I I we we had another tea tasting uh session last night.
Last night we tasted the latest batch of peach that uh that came in.
Yeah, peach are gonna be one of them, and then and then there's one more that we're working deciding uh probably not gonna do lemon because people can add lemon to their tea anytime they want, but you can't, for example, put pomegranate in there.
Not saying it's gonna be pomegranate.
I'm just in fact I'm trying to throw competitors off.
But we're working on two other flavors.
So we did a taste session last night, and I must confess, and I uh I had one computer left to upgrade OS 10 Lion, set that up.
So um did that and what I didn't say that that's true, but if you're still using that stuff, you deserve to have it wiped out.
Like, for example, I use Quicken, which is which which was made for Power PC chip.
And quicken goes, well, the I have it for from 2007, doesn't work anymore.
You know, in previous versions of OS 10, they had this program called Rosetta that would translate power PC programs up to these uh Intel chips, but they stopped doing that.
This is it.
Now I I knew in advance it wasn't gonna work, so I've got Quicken on a separate computer that I'm not upgrading to Lion.
That's how I did how to handle it.
But if certainly, like, are you still using WordPerfect as a word?
Well, good.
But if you're using stuff in 2004, it deserves to be wiped out.
You need to upgrade.
So I just got to note that uh some people say that uh there's a program out there if you use Quicken 2007 on your Mac.
Of course, it won't work with Lion.
And Quicken's not gonna fix it.
I mean, they've they've got an upgrade called it Quicken Essentials, but it's not any good.
The Quicken CEOs on the Apple board, I this makes no sense, but it ain't gonna upgrade it.
So you've got to keep an old computer around uh at system 10.6, whatever, to use Quicken.
And they say there's a new app out there called iBank.
Which I tried.
I exported all my Quicken stuff to IBank and I imported it.
Problem is that none of the memorized transactions arrived.
And it quicken's got a lot, and the reporting uh uh prepare a tax summary or what that's not nearly as good and therefore not useful for me.
Uh but I'm not, I don't want to run down IBank.
I mean, if you just need a checkbook, write checks, keep track of stuff, uh, you can do that.
But if if you use Quicken to really keep track of everything tax-wise, I bank, I haven't found a way to um to uh make it work.
For example, in Quick, when you're writing a check, you gotta write your check to America Express, you type in AM, it all fills in.
Type AM, it all fills a memorized transaction, all the address and so forth, and if they're a multi one, just scroll through to get the one you want.
None of that transferred in the import.
And then there are schedule transactions every month, certain bills get paid, the income cut that didn't uh import.
So uh it's got a great interface, and it does print checks and all that kind of stuff, but it it I tried it.
Tried it.
I'm not trying to run it down.
I'm just it just it doesn't do everything quick and kind of ticks me off here, and I got to keep a computer on the old system.
Just to use quick and this, this this intuit people.
You know, I uh they they care that one of these outfits that cares about windows and and Apple or Mac is an ethro, but they're on the Apple board.
Obama's speech last night, let's just call it what it was.
That was his Malay's speech.
He's attacking his predecessors, attacking the Republicans, attacking the so-called rich, or actually the working middle class, his own party.
There's no one or nothing he won't use as a human shield to get his way.
It's childish and it's noticeable now.
I was also playing with a program last night called Dragon Dictate.
Now, this they've dragged in his hand a dictate program for the iPhone and the uh iPad, the iPod touch.
You basically click on the button, the microphone starts recording, and it uh it turns your voice into text.
And when you finish, you paste it into whatever app you want, an instant message or an email or what have you.
Well, they've upgraded the program for the actual desktop map, uh, Mac or laptops, drag and dictate.
And that was a boxed thing that came with one of those headset microphones, and it was kind of cumbersome.
You had to charge the microphone, you had to connect it via Bluetooth.
And he basically had to look like Lily Tomlin, the phone operator Ernestine to use it, which was fine and didn't need to work.
Well, they've come out with a new iPhone app called Dragon Microphone.
It turns your iPhone into the microphone for drag and dictate for Mac.
So I was playing with that last night, too.
You talk into the iPhone and you can dictate an email.
You speak it, and it the text prints out in the body of the email, or it's system-wide, whatever.
You can uh i chat this way, uh instant message, what have you.
So I was setting that up.
All of this is you know, I'm just not that into Obama.
I was doing this stuff.
I knew what Obama was gonna, I knew it was gonna have a sound bites.
I knew that he was not gonna say anything different than he hasn't been saying since uh last Friday, and then the speech before that.
I know he's he's uh he's ticked off little man-child upset, summoning members up to congr up to the White House, uh thinking that he's a king or dictator, what have you, and they're not treating him that way.
That speech last night actually was Obama's malaise speech.
Uh Jimmy Carter gave one of those.
Jimmy Carter actually used the the term malaise in his speech.
But it was nothing different.
It blames Bush.
You know, I know Bush isn't ever gonna react to this, but I wish he would once.
It's not in Bush's character to do it.
I I I wish Bush would come out and say, you know what?
Three and a half years now.
Uh I think it's time for the current president to uh you know, start being a man, stuff like that.
Uh so he's attacking Bush, he's attacking the Republicans, the corporate jet owners, not enough shared sacrifice.
Uh the rich who are actually working middle class families in his definition, even attacked his own party.
There's no one or nothing he won't use as a human shield.
The same guy, by the way, Barack Obama, same guy whose own decisions have created the current situation, is now pretending he can solve it by doing more of the same.
I mean, if it weren't so outrageous and sad, it'd be a laugh riot.
Now we go to the audio sound bites.
James Carville last night was on CNN, Anderson Cooper 74.
And James Carville was asked the following question by Anderson Cooper 74.
James, what do you think is gonna happen here?
I'll talk to a lot of people on the phone today, and uh I'm detecting in people that follow this close.
I'm detecting a slight element of something I never heard before.
Little fair to people's voice to say maybe this thing just can't get there.
This is very, very, very touching.
Look, there's significant number of Republicans that I pointed out that say it's not a big deal if we default.
Senator Dement, Senator Toomey, Rush Limbaugh.
The Wall Street Journal ran a big influential piece by a big time investor saying it'd be better to go ahead and default.
They don't believe in expertise.
They send a treasury secretary down there to send this establishment guy down in.
They think it's all just made up, and this is something that they kind of have been sent here to do.
So we don't know what we did.
Boehner's got obviously got to get some democratic vote somewhere to do this.
Well, I'm there's uh a little aimless wandering for you.
Uh well, I didn't I did not technically say that it's not a big deal if we default.
I said that we won't default.
There's a big difference.
I we won't default.
But I'm told Carter did not use the word malaise in his speech.
Pat Cadell did in his memo about it.
Carter Cadell, you tell me the difference.
Anyway, there's a Bloomberg piece here.
The U.S. government can avoid a default for at least a month after Ramadan to lift the debt ceiling set by the Treasury Department said John Sylvia, the chief economist at Wells Fargo Securities.
It's a bank.
The Federal Reserve and the Treasury can work together to generate enough cash, probably for the next two to three months to avoid any kind of automatic default on the Treasury debt, said Sylvia, who's based in uh Charlotte, North Carolina.
He did this uh in an interview on Bloomberg television's in the loop with Betty Lou.
As a way of getting around this issue for at least another month or two.
Maybe even longer than that.
One of the questions is when the uh Treasury bills come due, do most people let them roll over, or are most people gonna want the cash?
Traditionally, they roll them over.
They want the cash, you got to do something to come up with it.
But there's, as we mentioned yesterday, there's uh already a mechanism for selling T bills or cashing them in to make social security payments.
So I have not said default is no big deal.
I have said we won't default on August 2nd if this doesn't.
I have further said that we won't default even if we lower the debt ceiling.
So Carville is out there attempting to lump me in with people.
See, they're they're pushing this government shutdown thing.
And that that their memories are 1995, and they won on the government shutdown.
So they're trying to say that people like me are pushing another government shutdown.
It's not government shuts down a lot anyway.
Joan Walsh, who um supposedly works where?
Salon.com.
She's one of these people, by the way, that got taken in by a bogus story not long ago.
A lot of lib journalists got taken in by it.
I forget what it was, but it was a it was a big story.
She was one of many who reported a major lie, major falsehood.
She was on PMS NBC last night with Sergeant Schultz.
They finally dragged Sergeant Schultz out of the uh dilapidated empty rail car place where he'd been.
Have you seen that?
Sergeant Schultz had been walking around uh uh some mud puddle with uh with a bunch of empty railroad cars in it, talking about how we can do better than this.
You seen that?
I guess he ends up at some coffee shop that you and I wouldn't be caught dead in.
Anyway, Sergeant Schultz says to Joan Walsh, what does it say about Speaker Boehner when he gives Rush Limbaugh call, the real boss of the party, before he goes further?
What does that tell you?
Yes, he checked in with the real boss.
We just have to talk about the utter mendacity of John Boehner tonight.
On Friday, they got within 400 billion dollars of a deal.
Sounds like a lot of money, but when you're talking about 4 trillion, it's not really that much.
They were close.
He had to walk away.
So what did he do?
Did he come back today and say, hey, we were this close and here's some ideas to close the deal?
No.
He went full tilt Tea Party crazy.
These guys just can't handle it.
Yeah, we're not caving.
Joan Walsh just can't handle it that we're not cave.
Oh, Joan Walsh got the Wiener story wrong.
There was you know, a lot of people bought the hook line sinker that uh that Wiener told.
And she was one of the people that that fell for a number of the lies that that that Wiener was telling.
But they just can't handle it.
They just can't deal with the fact that we're not caving on Obama's terms.
All right, I gotta take a break.
My friends, we come back and we'll have Speaker Boehner with us here, Rush Limbaugh, the EIB network on a roll.
Don't go away.
Okay, we're back.
Rush Limbaugh, the EIB network, and we welcome back to the program the speaker in the House, Mr. John Boehner.
Fill me in, Mr. Speaker.
And by the way, congratulations.
That was a um uh great speech last night that you followed uh the president with what's what what are the details of this latest uh deal, if I can call it that.
Well, this agreement was worked out between myself and the bipartisan leadership in the Senate.
Uh and it's a two step process.
It cuts one point two trillion dollars from the discretionary portion of the budget over the next ten years, uh and puts spending caps uh in place uh that'll make sure that that savings actually does in fact occur.
When over the next ten years does the bulk of the spending cuts do the bulk of the cuts take place?
Uh it uh it it mounts up over time.
Uh but uh in the first year, you know, we've already spending thirty-eight and a half billion dollars less than what we spent last year in that portion of the budget.
Uh this will cut another uh twenty six billion dollars out of real outlays going out, and about seven billion dollars in what we call budget authority.
Uh secondly, though, uh it sets up a joint select committee of the members of Congress.
Uh six members from the House, three Democrats, free Republicans, and six members of the Senate.
And they're charged with finding an additional one point eight trillion dollars uh worth of deficit reduction over the balance of this year.
Uh and they all meet.
Uh any proposal that gets uh seven votes out of that group uh would uh uh would go into a package where there's an automatic up or down vote in the House and Senate.
Are you confident there are any Democrats Harry Reid can pick that actually want there to be cuts in spending and the debt ceiling not exceeded?
Well, there really are uh Democrats who want to cut spending.
Uh and I'm confident that uh that our members can go in there and make the case for why America needs to act, uh, because the the greatest risk to our country uh is not missing August the second.
The greatest risk is that we do not make the cuts necessary to put our financial house in order.
Now, what would you say?
I've got I've got an email here.
You can imagine I I get emails uh constantly from people who attempt to influence my thinking.
I'm sure you do too.
And I've got I've got one here that says Rush, the Senate budget committee is gonna confirm in the next hour or so that the speaker's plan only cuts six billion dollars in fiscal year twelve versus the uh the C C B's 111 billion in the House version or 142 billion in the Senate version.
Now, y what what do you say when when people listen, now we're getting into budget talk.
Uh it's it's seven billion dollars in budget authority below the current year.
It's uh twenty-six billion dollars below in actual outlays that go out the door.
And again, remember that we made big cuts uh from last year into this year.
We're gonna make more cuts going in uh to next year.
Uh when have you ever seen a Congress in that one third of the budget actually spend less from one year to the next?
And we're gonna do it two years in a row.
And frankly, we might even get to three years in a row.
Okay.
So we're gonna raise the debt limit in this deal through probably you think it'll go to next March or April, somewhere.
The first uh if this bill were to pass, uh the president could ask for an increase in the debt limit up to ninety-five percent of the cuts.
Remember one of the principles here.
Uh we're not gonna increase uh the debt limit uh by anything more than what we're willing to cut spending.
Uh I said we're gonna have to exceed it.
And he'd have to ask for it.
But he gets he gets the the new what trillion dollars.
Trillion dollars, roughly, and we'll take them probably into February, maybe March.
Right.
So he gets that immediately, but the cuts are spread over ten years.
That is correct.
That is correct.
Uh Rush, yeah that we waited too long to deal with a problem.
And when he got ten thousand uh baby boomers uh like us retiring every day, uh more money for Social Security, more money for Medicare, uh it's it it's just a fact.
Uh but I believe the joint joint select committee can in fact uh produce real cuts in spending.
But there's a third part of this, Rush, uh, and that is is that uh it requires the House and Senate uh to have a vote on a balanced budget amendment after October first uh and before the joint col committee would report.
And the idea here is twofold.
One is to get all of our friends on the same page as to which balanced budget amendment, uh, and secondly to allow the American people, uh our members and others to put pressure on uh these liberal members of Congress to step up and to vote for a balanced budget amendment.
And frankly, we need time to build that support because today uh I'm not sure it's there.
Well, what happens, and I want to go back.
What happens when we get to next April when this new trillion dollar line of credit that's being added expires and we're right back where we are today?
That's that's uh that's the point the president's making.
That's why he wants a two point four trillion dollar blank check today that lets him continue with his spending spree.
Uh if in fact the joint committee does not report, uh the Congress is going to have to act.
And we could be right where we are today, but it's the only way to force the Congress to make the cuts necessary to get our fiscal house in order.
Now I'll be the first one to tell you this plan isn't perfect.
Uh again, it was an agreement between both houses of of the Congress.
What are the main criticisms you're getting of it?
Well, some people are concerned that the joint committee uh my God, they might raise taxes.
Well, I'm gonna tell you what, uh, it's gonna be pretty hard for the joint committee to do that.
Uh I don't believe that uh the Republicans on this committee that get appointed are gonna vote for to increase taxes, and if they did, uh I don't believe the House of Representatives would approve the report of the joint committee.
Uh and so I don't I don't I don't I don't fear that uh that problem.
Uh and frankly, I'm not afraid of of the debate.
If they want to have that debate, let's have it.
Yeah, I spoke to you on Thursday, and it was a major concern of yours that the uh the the country not default uh credit ratings but we've our credit rating has already been downgraded by a couple of agencies.
They tried a trick over the weekend, the president did, that the markets are going to open on Monday, the Asian markets.
And I saw a chart.
Asian markets were not affected by this at all.
All of these scare tactics are being used.
They're trying to hurry this along.
Uh and of course the vast majority of people that voted last November actually want the debt ceiling lowered.
Uh what that's what this is all about.
They want it lowered, they want spending really reduced because we don't have the money and can't afford it, they're worried about their kids' futures.
Let's let's separate the two issues, Rush.
The debt ceiling is about uh debts that America has already incurred.
Uh obligations that we've already made.
It's like you going out and buying something on your credit card, uh, you're obligated to pay for it.
Uh and and these debts have already been incurred, and frankly, I think it's the moral obligation uh of our of our government to meet its debts.
Uh having said that, it is time.
You know, if you're charging more than what you can afford, it's time to start spending less.
Uh what I'm trying to do is set up a a scenario uh with this bill that we're trying to move through the House uh to force the Congress to finally act.
What happens if there's a deadlock on this blue ribbon committee?
I've got about thirty-five seconds.
What happens if there's a deadlock and they can't move forward on anything?
Then Congress will have to go through the regular process, which isn't that hard in the House.
And frankly, this joint select committee was set up uh to facilitate uh a real vote to cut spending in the United States Senate.
All right.
Well, I appreciate your time again.
We're um out of it.
I wish I had more, but we don't.
All right, Rush, we'll see you.
Speaker John Boehner.
Brief timeout.
We'll be back and continue after this.
Don't go away.
Well, in a nutshell, Speaker Boehner seemed to be saying that uh we're never really gonna be able to cut spending seriously because of all the baby boomers retiring.
Uh but uh we got another um Congressional Commission, blue ribbon or whatever you want to call it.
We've had one of those.
It's called Simpson Bowls, and everybody's ignored it, forgotten about it.
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