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Aug. 8, 2011 - Rush Limbaugh Program
37:31
August 8, 2011, Monday, Hour #2
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And everybody breathlessly awaiting the debt man talking.
Barack ellipse now.
Obama Gadden, the president.
Uh-oh.
Remarks delayed until 1.30.
Uh-oh, what happened?
Remarks delayed until 1.30 now.
And I was just going to tell you what I'm pretty sure Obama's going to say.
I'll go ahead and tell you what I think he's going to say anyway.
He's going to blame somebody else.
He's going to blame the Tea Party.
He's going to blame Standard and Poor.
Is he going to blame you and me for not wanting to pay more taxes?
You want me to continue with this blame stuff?
I'm only halfway through it.
Obama blames corporations for everybody else's problems.
June 3rd, 2010.
Remarks by President Obama.
Obama blames Bush for overall standing of economy and American standing.
April 19th of 2010.
Obama delivering remarks at a fundraising reception for Senator Boxer and the DNC.
Obama blames Bush and Congress for deficits.
February 1st, 2010, in remarks delivered on the budget.
Obama blames Bush for regulatory policies.
January 17th, 2010.
Remarks by the president at an event with Massachusetts Attorney General Martha Coakley.
Obama blames Wall Street fat cats for economic disaster December 13th, 2009.
CBS News 60 Minutes.
Obama blames Bush for overall economy.
September 27th, 2009.
Remarks by the president at the Congressional Black Caucus Foundation's annual dinner.
Obama blames Bush for stifling unions September 7th, 2009.
Remarks by the president, the AFL CIO Labor Day picnic.
Obama blames Bush for prescription drug bill.
Remarks by the president, health insurance reform town hall, Portsmouth, New Hampshire, August 11th of 2009.
Obama blames Bush for jobs.
July 22nd, 2009.
News conference by the president.
Obama blames Bush for failure to recognize Europe's leading role in the world, April 3rd, 2009.
Remarks by President Obama at Strasbourg Town Hall.
And in those remarks, he said this.
So we must be honest with ourselves.
In recent years, we've allowed our alliance to drift.
I know that there have been honest disagreements over policy, but we also know that there's something more that has crept into our relationship.
In America, there's a failure to appreciate Europe's leading role in the world.
Instead of celebrating your dynamic union and seeking to partner with you to meet common challenges, there have been times where America has shown arrogance and been dismissive, even derisive of you.
Barack Obama speaking in Europe at Strasbourg, blaming Bush for a failure to recognize Europe's leading role in the world, April 3rd, 2009.
Obama blames Bush for deficits, February 23rd, 2009.
Obama delivering opening remarks at fiscal responsibility summit.
Candidate Obama blames Fox News for his elitist label.
The New York Times, October 2008.
Candidate Obama blames Fox News for likely loss in Kentucky primary, May 2008.
Canada Obama Obama blames Washington for high gas prices, April 25th, 2008.
Remarks of Senator Barack Obama, press availability on energy plan, 25 April 2008.
And there you have six pages of Obama blames.
S&P has indeed gone ahead and downgraded Fannie Mae, Freddie Mac, and countless banks, even as we speak.
Let me tell you what that means.
That means everything is going to cost us more.
Everything ultimately involving credit, capital, everything is going to cost more.
Standard and Poor, is this right?
Even downgrading Warren Buffett from the Wall Street Journal?
Berkshire Hathaway, other insurers get negative tag from Standard and Poor's.
After Standard and Poor's bit an appendage from the U.S.'s credit rating, their credit rating firm is smelling blood in the water at Warren Buffett's Berkshire Hathaway.
S ⁇ P today marking down ratings on some U.S. insurance companies based on direct and indirect sovereign risks from the country's credit going from AA plus to AA plus from AAA.
And don't forget Obama blaming ATMs for the bad unemployment number.
Holy smokes, folks.
What?
How bad can it get?
How much worse do you want it to get?
Now, of course, it doesn't sound good.
Now, what's going to happen is he's going to come out here at 1.30 with a statement on the downgrade in the Afghan attack, and I guarantee you he's going to blame somebody.
He's going to blame the reluctance on Republicans for new revenues.
He's going to blame the Republicans, the Tea Party.
He's going to blame people for not wanting to pay more taxes.
I don't know what he's going to blame Afghanistan on.
I mentioned earlier in the program, we're going to get to your phone calls after the upcoming break here.
By the way, I haven't even introduced this hour, which isn't necessary, but do it anyway.
Rushlinbawa, EIB network, 800-282-2882.
George Patton in 1945 wrote a poem for which he was paid $250 in Cosmopolitan, a poem called Fear.
I am that dreadful, blightful thing like rat holes to the flood, like rust that gnaws the faultless blade, like microbes to the blood.
I know no mercy and no truth.
The young I blight, the old I slay.
Regret stalks darkly in my wake.
Ignominy dogs my way.
Sometimes in virtuous garb I rove, with facile talk of easier way, seducing where I dare not rape young manhood from its honor's sway.
Again, in awesome guise, I rush stupendous through the ranks of war, turning to the water with my gaze, hearts that before no foe could awe.
This maiden who has strayed from right to me must pay the meed of shame.
The patriot who betrays his trust to me must owe his tarnished name.
I spare no class, nor cult, nor creed.
My course is endless through the year.
I bow all heads.
I break all hearts.
All owe me homage.
I am fear.
That just happened to come to me because I had so focused on the nature under which the Republicans had conducted their debt deal negotiations totally under the guise within the context of fear.
And again, I have to tell you that everything they said would happen if we didn't do that debt deal has happened, except the default.
Everything they said would happen to this country if we didn't do that debt deal has happened because we did the debt deal.
Now, a lot of kids, a lot of youths, when they get up and fire up their computers after they're finished playing their games, they go to Yahoo News Service.
So I went to Yahoo News Service today.
I wanted to see what the top stories American youth would see when they logged into the Yahoo News Service.
And here are the top stories of Yahoo News Service this morning.
VA doctors Rusty on women's care learn new skills.
Duncan states will get school testing waivers.
Former Senator Mark Hatfield of Oregon dies at age 89.
Diana Nyad, 61, attempts record Cuba, Florida swim.
Selena Gomez, Justin Bieber win teen choice awards.
Yankees fall to Red Sox and 10 drop into second place.
Pediatricians, sports in heat, okay with precautions.
These were the top stories on Yahoo News when I first checked this morning.
What downgrade?
What financial crisis?
Still, I guess it's good to know that it's safe for kids to do sports in the summertime.
As long as they don't get too carried away or are trying to win.
As long as they're not trying to win, it's okay to do sports in the summertime.
That's from pediatricians.
That's big news on Yahoo.
George Patton once said, courage is fear, holding on a minute longer.
We hadn't done the debt deal, folks.
If we hadn't done the debt deal, we would have an immediate 40% spending cut.
If we hadn't done it, if we had not raised the debt ceiling, we wouldn't have been downgraded.
If we had held firm and we would not have defaulted either.
We would not have defaulted and we would have not lost our credit rating if we had not raised the debt ceiling.
And it was the Tea Party that was advocating not raising the debt ceiling.
Brief time out.
We'll be back.
Your phone calls are next as everybody breathlessly awaits the debt man talking.
So why has Obama delayed his debt man talking speech from 1 o'clock to 1.30?
Maybe just to give his Wall Street friends more time to get their money out of the stock market for fear of what's going to happen to the stock market when he finishes speaking.
Because here we are in the middle of Barackalypse now.
Obamagdin.
New CNN poll just released says six in ten Americans think the economy is still getting worse and 75% believe the nation's doing badly.
Who the hell are these other 25%?
I'll tell you who they are.
Unions.
Unions and others who want further destruction.
75% believe the nation's doing badly.
25% say, nope, doing fine.
Unions.
Public employee unions and everybody else Obama's passing out checks to.
Okay, to the phones we go.
Karen in Albuquerque, New Mexico, you're up first.
It's great to have you on the program.
Hello.
Thanks, Rush.
Hi, how are you?
Very good.
Thank you.
Listen, I heard on Fox this morning that they said that they were calling, the government was calling this the Tea Party downgrade.
And it's like Vietnam all over again.
You know, the government gets us in a mess, and then the soldiers and the Tea Party are struggling to try and fight for this country and save this country.
And they blame, they spit on the soldiers when they came back from Vietnam, and now they're spitting on the Tea Party.
And I'm sick of it.
I am sick to death of it.
You ought to be.
Tea Party didn't have enough power to stop anything yet anyway.
And that's something else.
You know, you hear people that are interviewed that go to these Tea Party events, because I went to the Tea Party event at 9-12 last September, and there were 11 of us from Albuquerque.
There should have been 11,000 of us from New Mexico, not 11 or 1,100.
And these people are interviewed, and they say, yeah, for every one of us, there are 10 more that didn't come.
Well, they need to get off their butts and they need to go.
They need to fight because they're part of the problem if they're not part of the solution.
And I'm sick of it.
I want people fighting.
I mean, I'm out there.
I've never been an activist.
It's like so many people that have called your show and said the exact same thing.
They never, I never was an activist when we were in Vietnam or any other time.
But I'm sick of it.
I mean, I am just terrified.
If we don't fight for this country, who else is going to?
And I tell you what, I used to think that Democrats were just a touchy-feely group of people.
Can't we all get along?
No.
I think they're immoral, unethical, or at the very least, you know, idiots or mentally disturbed people who can't figure out and use one common sense thing to do in their lives.
And I'm sick of it.
I'm just so, and Congress, you know, they get the Republicans, we needed actual help, but they gave us all assistance just short of actual help.
And we need actual help.
Couldn't agree more.
Couldn't agree more.
That's why the next election counts.
And, you know, the Tea Party's stronger than you think.
You know, whether people show up in Washington at a rally or not, I think it'd be disappointing if you wish more showed up.
But the real rally you want people to show up for is Election Day.
That's going to happen.
You do not know.
I'm sitting here listening to you and I'm thinking how many people standing up out there and cheering and egging you on and saying, right on, Karen, right on.
Millions of people agree with you.
There's frustration everywhere.
And it's the kind of frustration that breeds involvement, not apathy.
There's no more time for apathy and no more time for letting somebody else do it.
The administration is terrorized by the Tea Party.
The Democrat Party is terrorized by the Tea Party.
The media is terrorized by the Tea Party.
And by the way, you're not just an activist.
You are a terrorist now.
Joe Biden called you a terrorist.
The media called you a terrorist.
Tea Party members are terrorists now.
You hold guns to people's heads.
You're holding hostages now.
All that means is that they are terrorized by you.
They are terribly afraid of you.
They know full well you stand in their way.
They know full well you have the ability to educate and inform others.
Matthew in Syracuse, great to have you on the program.
Welcome, sir.
Rush, how are you?
Hey, I would like to point out that this is the economy being ruined is being done on purpose because there is no outrage with Bernie Spring still being in charge of Fannie and Freddie.
I mean, the guy was arguing a week before the housing collapse that there was nothing wrong with Fannie and Freddie, that they were doing well.
And then all of a sudden you have the market crash, everything else, and there's still no outrage to get him out of office running Fannie and Freddie.
I just don't understand it.
Well, Barney's not in charge of them anymore.
I mean, the Democrats aren't in charge, per se.
The Democrats are the minority in the House of Representatives.
Now, I don't know if it's a current partner, boyfriend that still works there or an old flame or not.
Don't know.
But Barney has had, let us say, his hand in at Fannie Mae for a long time and has done everything he could to stand in the way of regulators fixing it.
So your instincts are right on the money.
Matthew, appreciate the call.
Thanks much.
Staying in New York and the Yonkers.
This is Mark.
Hello, sir.
Great to have you with us.
Hi, Rush.
I'm honored to speak to you, sir.
Thank you to you now for four years.
You've taught me so much.
You know, I just have an observation more than a question.
I hear you talk a lot about how Obama's land's slidable and how he could lose big time in the next election.
And I pray that's true because I see it for the future of the country as you do.
However, there are legions of idiots and zombies out there who have clue to what's going on.
And it's already said who they're going to vote for.
It's already said.
What's already set?
It's set.
Who they're going to vote for in their minds, no matter what he does.
Okay, look, if what you say is true, then George W. Bush should have never won an election, or Ronald Reagan should have never won an election.
And the same idiots are always out there.
The thing is, those idiots are outnumbered.
And the legions of people that voted for Obama consist of a number of people who have run away, who have fled.
His approval number in Gallup is at 40.
His approval number on his healthcare poll is in the 40s.
A vast majority of American people oppose Obama policy by policy by policy.
Now, true, there are ethnic groups that are going to vote for Obama.
93, the African-American community is going to vote for him, 93%.
They always do.
Hispanics may be up for grabs.
The independents, a big group, have moved away from Obama.
And what is happening now to move anybody to him other than people who want this?
You got to think for Obama to be an easy victor in 2012, that there have to be a majority of people who want this for the country.
Now, anybody is welcome to call here and try to convince me that a majority of Americans want this.
I would love to hear your reasoning.
It's 1.33 in the afternoon, almost 1.34 Eastern time.
The president obviously waiting for this program's commercial break to end before coming out to speak as a debt man talking.
Ha!
And whenever he does make it out there, we will jip it.
We will carry it.
Little Timmy, look at that, Dona Measley, 334 right now.
$2 trillion in asset value lost in what, a week?
$2 trillion in asset value.
Kaput lost.
So little Timmy Geithner, the tax cheat, hasn't said a word throughout the weekend.
Obama hasn't said a word.
So everybody's waiting with bated breath here in the midst of Barack Olips now.
So when he shows up, we will jip it.
Stands for join in progress.
We're not talking about some financial thing.
It's a broadcast term and it's JIP, join in progress.
And we're going to join pretty soon after it starts.
I don't know how bad it can get.
There aren't any stops.
Was somebody tell me where are the brakes?
Where's the brake pedal?
What is the brake pedal?
I'll tell you this.
If this guy comes out here today and if he goes partisan in his remarks, it's going to take it down even further.
If he comes out and starts blaming Tea Party, blaming Republicans, if he goes back and says, if we had just done the debt deal like I wanted to, grand deal, 4.7, if he says what Axel wrote here, grab soundbite, I think it's three.
Grab soundbite three.
This is Axel Rod yesterday on Slay the Nation, Bob Schieffer.
So you saying that the president bears no responsibility for this?
This was all the fall to the other side.
This is essentially a Tea Party downgrade.
The Tea Party brought us to the brink of a default.
And by the way, you said before, well, the president said this wouldn't.
If we had defaulted on our debt, the consequences would have been dramatic and lasting.
What the hell are they now?
Everything that everybody told us would happen if we didn't do the debt deal happened despite doing the debt deal.
We did a debt deal.
A typical U.S. debt deal, immediate spending and cuts spread over 10 years that will not happen.
90% of which won't happen.
Okay, so here is one of Obama's political gurus yesterday blaming the Tea Party.
If Obama comes out and does that, you're going to have another 200 points shaved off of this thing.
I think, I think if he goes partisan, that's not what people are wanting to hear.
If he starts blaming people, look at he's president.
This is the time when qualified presidential leadership surfaces.
Calming, restoring, inspirational, uplifting.
This guy doesn't know that because he doesn't believe that about this country.
He can't say that from his heart.
Somebody better put the words on the teleprompter and he better be able to read them convincingly because if that doesn't happen, if it's typical Obama that we get out here, you know, I was just inaugurated yesterday.
what I've inherited.
Bush this regulate bush that worse than I thought it was.
Nobody told me how bad it was.
All that.
If he tries any of that, I shudder to think.
The correct thing to say is, and Obama loves to run around and talk about all this bull crap that he inherited from Brooklyn.
He inherited a AAA credit rating too.
Pharaoh Obama inherited a triple-A credit rating.
So you live by the blame and you're going to end up dying by the blame.
You want to go around and you're going to say everything you inherited was rotten.
You've got to also take the good that you inherited.
We're still waiting.
It's now originally 1 o'clock, then it was 1.30.
Now it's 1.38 minus 40 for our delay.
It's almost 1.39.
Well, actually, no, real time is 1.39.
You're hearing this 40 seconds late.
I don't know.
Maybe they're polling.
Maybe they're focus grouping various speeches.
Maybe they got a couple of speeches and they're busy focus grouping them back there and trying to figure out which one to give.
Because I tell you, he does not have uplifting and inspirational in his heart.
I mean, we've been there, done that, and that was, you know, Grant Park 2008, the 91 the election, and all during the campaign when we've got to lower the sea levels and birds are going to start singing and all of that crap.
That wasn't even American specific.
This guy, when the subject of American exceptionalism comes up, well, I think other countries think they're exceptional too.
He just doesn't have it in him.
He doesn't have the concept of American greatness in him.
I don't look at how the way we get out of this mess is to reverse Obama policies.
We've got to stop Obamacare.
We have to repeal it.
We have to start drilling for oil again.
We have to get in charge of our food.
For Christ's sake, the word needs to pardon my French.
I'm sorry.
The world needs two things that we have in abundance, food and energy.
And we're not doing either.
We're giving up acreage for stupid snail darters and other environmental concerns.
Ditto energy.
But what we need to do is start producing what the world needs, what the world has to pay for and is willing to pay for.
What we've always done, fed the world.
Instead, we're in the bio crap.
Look, I apologize for my language.
I'm just really frustrated.
This really ticks me off, coupled with this thing in Afghanistan.
The idea that a bunch of seventh century nomads will be able to pull off an operation like this means that they're getting intel from somebody.
And so there better be an investigation to this.
And the investigation better be who is helping these people.
Exactly right, Iran.
It's in everybody thinks it's Pakistan, or I'm sorry, Pakistan.
And I'm telling you, it's Iran, in my mind, that's providing much of the intelligence.
Now, we had a caller a minute ago who really made, I think, a very good point.
The Tea Party is being treated much the same way as returning Vietnamese soldiers or Vietnam war troops.
Spit on, blamed, castigated, sideline critics sitting around.
One more.
Audio signed by number four.
This is after Axelrod blamed the Tea Party on Slay the Nation.
Schieffer played a clip of President Obama saying if the economy didn't improve, he'd be a one-term president.
And then Schieffer and Axelrod spoke about it.
We're getting right up to that three-year point.
Is this going to be a one-term presidency?
We're in a different place than we were the day he did.
Well, we are.
Thanks, Seven.
And we were losing 750,000 jobs a month.
We've had job growth for 17 months.
Really?
So this is what they're lying to themselves about?
Axelrod?
Are they really telling themselves in the White House that they've got economic growth going on out there?
Are they really telling themselves that they're sitting pretty because of job growth?
Is that really what they're telling themselves?
Or is that just what he's saying on TV with good buddy Bob Schieffer?
Here's Timmy Geithner up to Soundbite 6, April 19th of this year on the Fox Business Work, Fox Business Network.
The correspondent Peter Barnes talking to the little tax cheat, Timothy Geithner.
Is there a risk that the United States could lose its AAA credit rating, yes or no?
No risk of that.
No risk of that whatsoever.
The walking clueless.
I'm going to take a break.
At some point, this guy's going to come out and speak.
What are they doing back there?
Are they really notifying their Wall Street buddies to start selling stock because of how bad it's going to be after Obama finishes?
Or are they focus grouping various speeches to figure out what to do?
How do you announce a one o'clock address?
Here it is, 43 minutes later.
You still haven't shown up.
Obama must be getting close because Fox brought in their nighttime anchor to start promoing it.
That always means the White House must have given the two minutes.
So whenever this starts, I just want you affiliates along the EIB network to understand something.
The next commercial break comes, we're taking it.
This guy is not going to get us to preempt our obscene profit timeouts.
And I would suggest you take it too.
But we're going to take it.
You could keep carrying all you want.
I suspect we'll know.
And I'll tell you something else.
If you are a company, if you are a company or a concern that has bad news to announce, do it today.
It's better than any Friday at 5 o'clock.
Nobody will ever know about it.
Everybody is so occupied with the downgrade, the S ⁇ P, the stock market, what Obama's going to say.
If your company has just lost everything, announce it today, and nobody will know it for two or three days, and you can flee the country in time.
All right, so I'm going to take a call, but I'm going to have to interrupt the call depends on maybe they run out of flour for his hair.
The White House kitchen.
Who knows?
Marilyn and Dallas, thank you for waiting.
Welcome to the Rush Limbaugh program.
Great to have you.
Well, we're down 424 points.
426 for crying out loud.
Yeah, hi, Marilyn.
Hi.
You know, I don't think Obama sits worried.
He's still got another rabbit to pull out of the hat, and that's taking over, taking the 401ks, The IRAs and the pensions, because that way he now has a committee that will six people from both parties that have very little choice but to pick something like this because it's going to put $7 trillion into the bond fund.
It's going to make the next 10 years look wonderful, and the unions are going to be delighted because they saved their pensions.
Wait a minute.
You think that the supercommittee in Congress will simply appropriate the money in people's 401ks and Keo plans?
He needed two things to make this 401k.
They've already done the paperwork.
The White House Task Committee.
Wait a second.
What do you mean they needed two things to make what 401k thing?
To make this happen.
They needed two things.
They needed, first of all, to neutralize the Republicans, because when they tried to present the nationalizing the 401ks in 09 to say that we were going to add money to the Treasury, they were confronted with the Republicans.
And then when the Republicans won the House, they were really put down by it.
But now that they have neutralized the Republicans by forming this committee, holding the Republicans hostage because they either...
Marilyn, look, I have to admit here, and I don't admit this very much, but I'm totally lost.
Do you know that 401ks are worthless right now?
Nobody's 401k is worth taking.
Sir, they have $7 trillion to take if they choose to take all the pensions, the 401ks and the IRAs.
And the paperwork has already been done.
Wait a minute.
Pensions, again.
All the pensions.
I understand.
It's called the Government Retirement Income Plan.
Your life is a good time.
I understand.
Yeah, I now know what you're talking about.
And in 09, when they tried to do this, they sweetened the pie by saying, okay, we will value your 401k as it was on the day before September.
I remember there was a deal.
Yeah, I know what you're talking about.
They wanted to take...
He needed a meltdown again.
They wanted to take your 401k away from him, promise you a certain gain every year in exchange for taking your 401k.
They would just do QE3 today.
They would just start printing money if they wanted.
$2 trillion, Marilyn.
$2 trillion of asset value in the last eight or nine days.
Put.
Now, the pensions, you talk about state teachers, public workers' pensions are underfunded by a fat, it's incalculable underfunded.
Now, there still is money in them.
I understand this.
This idea actually goes back to the Reverend Jackson.
Early in the 1990s, it was his idea to go get pension money then and shore up whatever he wanted it for.
But times have really changed.
I know what you're referring to and so forth, but I don't doubt what your associated motive is for Obama.
Okay, he's on the wrecking path here.
Just take everything else everybody's got.
I understand that you think he's totally capable of doing that.
I do too.
I do too.
It's part and parcel of thinking this is on purpose.
But he can't come out and make it look like it's on purpose.
So the fastest way to do this would be to start printing money.
But the triple A rating down to AA, you can't do that.
You can't print money now.
Everything's changed with that rating downgrade.
Hands are tied.
That's actually one potential positive of this is that other Obama-type Keynesian weapons are fewer in number.
Okay, this guy has had the cable networks breathlessly awaiting the one o'clock speech for 53 minutes.
Fox is having to pay over.
Whoa!
See, here he is right when we're one minute away from our commercial break.
Let's listen to one minute of this.
We'll get a tone for it.
Here it is.
Oh, wait a minute.
I'm sorry.
I'm wrong.
He has started, but our microphones aren't on.
Our credit status is for quiet.
There we go.
In fact, Warren Buffett, who knows a thing or two about good investments, said if there were a quadruple A rating, I'd give the United States that.
I and most of the world's investors.
Buffett was downgraded today.
That doesn't mean we don't have a problem.
His word isn't worth it, guys.
We didn't need a rating agency to tell us that we need a balanced long-term approach to deficit reduction.
But they did.
That was true last week.
That was true last year.
That was true the day I took office.
And we didn't need a rating agency to tell us that the gridlock in Washington over the last several months has not been constructive, to say the least.
Okay, so we've had a prolonged debate over the debt ceiling.
Blame Republicans.
Debate where the threat of default was used as a bargaining chip.
Okay, we got to go to commercial break now.
We know what he's doing.
He's blaming everybody else exactly what we knew is going to happen, so we don't need to hear it.
There you go.
All right, he said it.
Tax increases.
People that have to afford it, need to pay more.
That's what his solution is.
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