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June 1, 2012 - Rush Limbaugh Program
36:38
June 1, 2012, Friday, Hour #1
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Welcome to today's edition of the Rush 24-7 podcast.
Okay, let's see.
Bill Clinton said that Mitt Romney is a great businessman.
So we got to stop criticizing Romney and Bane Capitol.
As Clinton heads off to supposedly help Obama in Wisconsin.
And then Deval Patrick.
I like these Bane guys.
They got a great record.
I like Romney.
It's Friday, folks.
Live from the Southern Command in sunny South Florida.
It's open line Friday.
Yes, sure, Bob.
Great to have you with us, my friend Zell Rushbow in person, live behind the golden EIB microphone, serving humanity.
That's what I do.
And I do it simply by showing up.
What a thrill.
What a delight.
How exciting.
It's Friday.
Now we're here and we've got three hours of broadcast excellence.
Straight ahead with you.
Our objective on Friday, we don't often meet it, but our objective is to take more phone calls on Friday than any other day of the week.
And I always start the program with that objective.
But then stuff happens.
See, you know what?
Yeah, I've always had great intentions.
My uh good intentions, honorable intentions, always try uh start out with the mindset of taking more phone calls on Friday than Monday through Thursday.
But, and it may be the case that it's a relatively small stack today.
Uh most of the stack is the unemployment news.
Anyway, folks, great to have you here.
Rushlin bought at 800-282-2882 and the email address.
Lrushball at EIBNet.com.
It really is it's it's it's interesting.
A lot of black politicians defending Romney and Bain.
You've got Corey Booker, uh, Deval Patrick, now the first black president is defending uh Romney and Bain, Bill Clinton.
It's uh, and then you had Arth Davis, who left the Democrat Party to Alabama to join the Republican Party.
Uh 800-282-2882.
We go to the phones on Friday, and it's your show.
You talk about whatever you want.
Pretend you're the host.
I don't have to care about it, which is the case Monday through Thursday.
It's a golden opportunity.
Hang on just a second.
Everything cleaning crew comes in here.
I never noticed this stuff till the show starts.
Well, just things out of alignment.
No big deal.
Everything's still connected, I think.
Anyway, let's hit the unemployment news.
This is heartbreaking stuff to me.
I uh a lot of people sent me emails today all excited because politically it's it's uh I'm even seeing headlines, another nail in Obama's coffin.
Some of the some of the drive-by headlines, I mean, they there's no covering this.
There's no silver lining in this.
Folks, the United States construction business industry is a is practically shut down.
Lending to small business is down.
You know, everybody wondering, okay, what's Bernante gonna do now?
Are there any tricks left?
Everything they've tried hasn't worked, and that was predictable.
Not one thing that they've tried has worked.
Nothing.
When are people going to learn?
This just doesn't work.
These numbers, these numbers are heartbreaking.
I even saw a drive-by snow.
It Britt Hume tweeted something out.
You know, they the regime and the drive-bys try to say, oh, they do say that the recession ended in June of 2009.
Well now, stick with me on this.
Recession ended in June of 2009.
What that means is, I mean, the the stimulus, Porculus, and all the other slush funds had barely started to kick in.
In fact, most of them had not by June of 2009.
What it means is if the recession ended in June of 2009 And none of Obama's fixes were even in place.
That means it's all his.
None of this is Bush.
If we came out of the recession in June of 2009, and then every Obama fix, quote unquote, kicks in after that, then they own this.
And by the way, we went back to the archives.
I got three stories.
Biden, Obama, David Fluff, all saying in the last three years, oh, yeah, we own this economy.
It's ours.
Let's start off with the lowlights of this very serious situation.
Our country is slipping back towards a recession.
And the horse race side of this pretty easy to read.
It's a disaster.
It is an unmitigated train wreck disaster for the regime for the one.
But I tell you, folks, I'm concerned about the uh about the country, as I have been before, since before Obama was inaugurated.
I don't mean this as an I told you so.
My fear in January of 2009 was this is where we were headed.
I didn't want any of this to happen.
I and I was very confident it was going to happen.
I know Obama without having met him.
I know liberalism.
I know what they're fixing.
I had heard him say.
Everything he had to say about economics, politics, I knew.
It's just, it's depressing to be here.
Thank you.
Now, Obama's not going to get re-elected on his track record.
He can't run on anything he's done.
You go back to every incumbent president seeking re-election.
Reagan had mourning in America, and he had a recovery that was well in progress.
Bush in 2004 says I've kept you safe, and I'll continue to keep you safe.
Clinton, he had a message.
Forget what it was, but it was not I'm not Bob Dole.
He had a he had a message of achievement.
He'd come out of this worst economy in the last 50 years in 1992, that's what they'd called it.
Bridge 21st century, something that, but he had things that he had done that he could say, look, look, look, you need more of me.
Obama's got none of that.
Oh, and by the way, do you remember when was it when May 25th?
So a little over a week ago, ladies and gentlemen, I proffered an opinion on this program.
This is a regime, this administration, this is a president that is dominated by events.
They live politically, event to event to event.
And I said, I'm going to go back and replay this for you.
I said that I think the Supreme Court decision on health care is the event that has these people paralyzed right now.
That's what they're waiting for.
They do everything by event.
They react to events and go from there.
And Obama was caught telling a bunch of supporters that he needs a second term because he might have to redo health care.
Now, the White House is denying it.
But there were people at this fundraiser of this private equity thing.
It was the Blackstone fundraiser, where Obama said he needs a second term because I might have to fix health care.
So that might be something in his arsenal.
And people are interpreting that.
Well, now, wait a minute.
If you're confident, if if you're confident of re-election, confident of where you're standing, confident of your administration, why would you tell the people closest to you?
Why would you create a sense of doubt in the people closest to you?
Why would you express something that denotes no confidence?
And when you say I might have to redo health care, a lot of people are saying, okay, he's been given a heads up.
He knows that parts of it or all of it are going down.
That's that's how it's being interpreted.
I have no idea.
I'm not bothering to predict it.
I've got everybody has their opinions on this, but nobody really knows except those nine justices, and maybe Obama.
And it could explain why he's saying what he said.
He's not, by the way, anywhere close to raising that one billion dollars that was part of a PR blitz starting about a year ago.
Oh yeah, Obama's gonna raise a billion dollars.
He's gonna skunk every he's not gonna get close to it.
Their fundraising is in fact the Republicans in places are outraising Obama.
So he's got nothing to run on other than whatever he can say about Romney, whatever they can scare people with about Romney, and they might need Obama fix health care because the court might screw it up.
And that's it.
Meanwhile, the real question is how does this get fixed?
And it's becoming apparent, has been apparent to me all along, and it's becoming apparent to more and more people by the day that it isn't going to get fixed with Obama in the White House.
It just isn't going to get fixed.
If you think it's bad now, just wait till the remaining 60% of his agenda gets implemented.
Remember, healthcare was timed to be fully implemented 2014, long after Obama's theoretical final election, which is this year, 2012.
It starts the full implementation schedule in January of this year with massive tax increases.
Personal income tax increases, capital gains tax increases.
Meanwhile, a shrunken U.S. private sector will continue to shrink as Obama will hijack it.
Obama's already passed legislation will begin to take even more out of the private sector.
When you raise taxes, when you increase regulations, you take money out of the private sector.
And more of that is on tap.
This is as good as it gets with Obama.
The only responsible, intelligent and reasonable way to look at this.
This is as good as it gets.
What are you shouting at me?
This isn't what you would you tell me.
Let's just apply, here we are in Realville.
Let's apply some logic.
Here we are three and a half years in.
Pretty much everything Obama has wanted other than card check, he got.
He got his health care, he got stimulus, he got all the spending, he got...
Tell me.
And we are where we are with it.
How is any more of this going to improve the situation?
It can only get worse, folks.
This is as good as it gets in this country as we know it with Obama.
Now, let me give you some context to this disastrous employment news today.
This is what was predicted before the jobs numbers were released this morning.
If you read carefully yesterday and the day before, all week, what was predicted, the Wall Street consensus was 150,000 net new jobs, and a U3 unemployment rate of 8.1%.
So the experts, quoted by AP and Reuters and CNN USA Today, all the experts, consensus opinion.
150,000 new jobs and an unemployment rate unchanged at 8.1%.
Now what happened?
Well, that consensus was about as worthwhile as the consensus on global warming.
Totally worth less.
It was a huge miss.
You want to talk about expectations.
Expectations?
Nobody has any expectations anymore.
There is a huge flight of capital out of world stock markets today.
The jobs report says that there were 69,000 net new jobs.
The consensus expectation was 150,000.
These people missed it by 80,000 jobs.
They missed it by a number greater than the actual number of jobs created.
69,000.
The unemployment rate went up to 8.2%, but it should obviously be much, much higher than that.
But here's the real big news to add to this already paltry number of 69,000.
The reported unemployment numbers for March and April have been fully revised.
The past two months were revised down by 49,000 jobs.
Private sector job growth the last two months was up just 82,000.
If the labor force participation rate was the same today as it was when Obama took office, the unemployment rate would have been reported today as ten point nine percent.
10.9% if the same number of people were in the job market today as when Obama was inaugurated.
But they aren't.
We are down nearly 2 million people.
Two million people who have given up, are not looking, who formally had jobs when Obama took office.
Forty nine thousand jobs were lost in March and April that were not reported in March and April, is what this revision means.
So today, in addition to 69,000 new jobs, we found out that in April and May, or March and April, we lost an additional 50,000, 49 plus change that we weren't told about in March and April.
Now with a backdrop like that, remember this.
And this is from our buddy Jim Pethic Kukis, the American Enterprise Institute.
When you have a year of economic growth below 2%, like we did in 2011, a recession follows within a year, 70% of the time.
SHICOM growth has slowed.
Europe is on the verge of slipping into a deep recession.
We have now had three profoundly weak job reports in a row.
Yesterday, our gross domestic product, economic growth revised down to 1.9%.
Our debt is spiraling out of control.
We have a series of major tax increases due to kick in January.
That's what's being called tax magedon.
White House dossier headline, Obama to hold six fundraisers in one day.
That's a headline today.
yesterday.
While all this is going on, Obama is going to be attending six fundraisers in one day.
Gotta take a break.
Sit tight, be right back.
It's open line Friday.
Great to have you here, Rush Limbaugh, meeting and surpassing all audience expectations.
By the way, one thing about Bill Clinton when I was talking about president's campaigning for reelection on second term.
The reason Bill Clinton had something to sing about was because of the Republican Congress winning in 1994.
Bill Clinton was able to cite all the things the Republican Congress had forced him to do.
We had balanced budgets.
We had uh it passed at the time, but welfare reform was on the table and being discussed.
There was fiscal solvency taking place.
That was huge.
And then of course the budget battle of 1995, which did not redound well to our benefit, it all added up to Clinton and somebody Obama Simply doesn't have that.
Now there are five sources.
Bloomberg News cites a total of five anonymous sources for their claim about Obama saying that he might be needed second term to redo health care.
Might be the White House is denying it, but Bloomberg's got five people at this fundraiser.
So Obama's got six fundraisers today in one day.
And do you know they are all within shouting distance of Wisconsin?
He's not going to set foot in Wisconsin.
But they're all within shouting distance of Wisconsin.
And Clinton's going into Wisconsin.
So Obama doesn't have the guts to go into Wisconsin because he doesn't want what happens there tied to him.
But he's getting as close as he can.
He's going to combine his stump speech with these fundraisers near Wisconsin so that he can hopefully say when the next week that he had a had made a difference.
It is just, it really is disastrous and pathetic, and we're looking at full-fledged incompetence here.
So we are at 8.2% unemployment, and in reality, we are at 11.9, 10.9, 10.9, if the same number of people working.
But that number, 8.2%.
That's a number we were told we would never reach if we passed Obamacare.
We would never get above 8%.
Never if we passed the stimulus men.
Not Obamacare.
If we pass stimulus, if we pass porculus, never get above 8%.
How good is George W. Bush looking?
You know, this guy is so much smarter than people know.
Yesterday, the portrait unveiling at the White House.
Obama can't help himself.
He has to get in his digs about how horrible it was, the mess that he inherited from Bush.
And not only was it bad, it was far worse than they even knew.
An unstated attempt to blame Bush for withholding data on him during the transition period.
What does Bush do yesterday?
What he's done every day since he left office.
He held his fire, kept his powder dry, cracked a joke.
He said, Mr. President, when you're wandering the halls here trying to figure out what to do in tough situations, just ask, what would George do?
I don't think that there is a an informed person in this country who wouldn't take the Bush economy over what we've got here.
It's not a it's a no-brainer.
The budget deficit when Bush left office was 167 billion dollars.
I mean, it's it's it's it's it's absurd to believe, and they're still trying to blame Bush.
766,000 more women are unemployed today than when Obama took office.
That's Terry Jeffrey at Human Events, a Cybercast News Service.
766,000 more women unemployed today than when Obama took office.
And the number is from the Bureau of Labor Statistics.
Now, ladies and gentlemen, I'm depressed.
I I try to sound as though I have a smile on my face.
This depresses me.
Depresses everybody.
It's difficult to see how there is going to be any significant, real, career-type job growth through the end of this year.
No business in its right mind will aggressively expand with significant costs ahead of it, like Obamacare, the tax increases, and the existing situation.
We have a president who is running against capitalism.
We have a president whose campaign is based on running against what made America great.
Obama's attacks on capitalism have become so dangerously absurd that the Democrats who are giving Romney and Bain Capitol high praise full well understand what's going on.
And they don't dare come out and be critical of Obama the way Arthur Davis was.
But when you have Duvall Patrick and Corey Booker and fast Eddie Rindell and Democratic Lanny Davis, Democrat after Democrat coming out and personally with their name attached.
Dissociating themselves from Obama's attack on Bain Capitol, you have the equivalent of these same Democrats standing up and saying Obama is wrong.
The number one line of attack from the regime is being rejected by prominent Democrat governors all over this country.
Bill Clinton is the latest.
Corey Booker, Newark mayor, Lanny Davis, Deval Patrick.
We have a president who has isolated himself from his party.
Isolated himself from free markets.
Now he's warning contributors that Obamacare is likely to be struck down.
That's how they're interpreting it anyway.
These people at the fundraiser.
And by the way, this this is the fundraiser where Obama demanded that everybody surrender their cell phone.
And any other PDA.
Everybody got there to this Obama fundraiser, had to put their cell phone in a bag.
Nobody was allowed to record, nobody's allowed to take any pictures.
I've never heard of that happening.
All of these Democrat fat cats had their phones taken from them when they arrived at the Obama fundraiser.
It's that fundraiser that Bloomberg has found five people saying Obama told them he might need a second term to redo health care.
And these five people are interpreting it as Obama has inside information that some of it's going to be struck down.
We need, our country needs new leadership.
Look how out of step the Democrats are.
In Wisconsin, they forced a recall election on Governor Walker, who all he's done is balanced the state's budget.
Unemployment is dropping to 2008 levels.
He has not laid off anybody.
Not one dire prediction made by the unions or the Democrats has come true, just the exact opposite in Wisconsin.
Barack Obama has created five trillion dollars in new debt to create an absolute economic mess.
And as Romney says, he gets an F, it's a failure.
It isn't working.
A government-centered society fails every time it's stripes.
Go to the audio sound bites.
They are in panic mode at MSNBC.
They are in panic mode at CNN.
They're at panic mode at the daily cost.
They're in panic mode, the New York Times and the Washington Post.
They are in panic.
I don't know where they thought this was headed.
I don't know what in the world they thought was going to happen.
Could somebody tell me what has happened in the last six months to suggest that anything other than this was on tap?
We've had three and a half years of Obamaism.
We haven't had any real growth in anything other than bad news.
Why is this unemployment report so shocking to people?
Where's the evidence that it was going to be anything other than what it is?
Where is the job growth?
Where is the gross domestic product increasing?
Where is there any good economic news?
Why in the world would anybody expect today to be any different than it is?
Now, I'm the mayor of Realville, and that's a place where things are so simple, sometimes they're hard to understand.
But I have this story here, all these experts were expecting the consensus, 150,000 new jobs.
By the way, why does that number keep popping up?
Have you ever wondered why every month is the consensus, and it is if you read like I do, the experts every month are predicting that the job growth rate's gonna be 150,000.
That number's not accidental.
One hundred and fifty thousand jobs created in a month in our current circumstances is the number of jobs you need to keep the unemployment rate from going up.
That's all they care about.
And they know what to report because the regimes told them what to report.
It's to say the old Soviet Union is with their wheat forecasts.
I know you some of you, even those who were alive back in the 70s and 80s.
You may not remember this, but I was a Sovietologist because Mr. Buckley was.
And I absorbed everything that National Review and the leaders back then were talking about.
The Soviet Union, every year, month, whatever, would come out with the most ridiculous forecasts on their wheat crop and everything else.
And they were never ever right.
And we were bailing them out.
We were selling them wheat, giving them wheat, what have you.
It was a don't ask me to explain it now.
That's a whole show in and of itself.
But the point is the Soviet media, state controlled, reported it anyway, because they knew the trouble they would get into if they told the truth.
Well, that's almost the same situation here.
There's no consensus expert analysis that says 150,000 jobs are going to be created.
Where's the evidence for that?
No, no.
I'm I'm I'm not trying to beat a dead horse.
I'm just trying to use my profound and abundant logic.
Where is the evidence?
Last week, last month, two months ago.
Where's the evidence that would give an expert any indication that we're going to have massive job growth in the month of May?
In other words, why did people have these expectations?
I haven't.
The sad thing is I am not surprised.
There could be no other result than this, the past three years.
This is what liberalism does.
This is what the Democrat Party's all about.
This is what their ideology accomplishes.
None of this is a surprise.
That's part of the reason I'm depressed.
Why don't other people see it?
I checked an email during the break.
Why do you care?
You're doing okay.
Oh, come on.
Don't make me explain that in great detail.
That's that's I'm insulted by the question.
It's not just love of country.
There's some personal reasons here.
Sadly, there's some who do.
That's that's the real.
That's the real depressing thing.
Is that some people are happy with this because of what they think it's going to offer them as an opportunity to coal us even more power, oriented around fixing it.
And some people believe that this is all personal or purposeful.
I'm one of them.
I I don't know why anybody would expect anything other than what happened today.
There is no evidence out there anywhere that anything other than this jobs number could be true.
So I just want to have it on record.
I, El Rushball, am not surprised.
But it does depress me.
Now, CNN.
It's a pretty, you know, it's a close number.
The number of people who found jobs, 69,000, is actually larger than the number who watched CNN.
Now, do you know that?
69,000 people found jobs, that's more people than watch CNN.
They hit another 20-year low in May.
At a 20-year low in April, hit another 20-year low in May.
Just yesterday, the end of the month was another 20-year low in ratings.
They haven't been as bad since 1981.
And there wasn't any competition in 1981.
That was their startup.
Pretty close to it.
So here's Christine Romans talking to Soledad O'Brien, named after a prison, as Roger Ailes pointed out, and talking about the job numbers.
Uh 69,000 jobs created in the month, 69,000, and the forecast was 150.
So they had uh, you know, you did not it not not good.
8.2% uh unemployment uh so the unemployment rate went up and you had 69,000 jobs created.
You lost 13,000 Jobs in government.
So that means the private sector created 82,000 jobs.
It confirms this slowdown that we've seen over the past couple of months.
What's worse is April, we thought it was 115,000 jobs.
It was really 77,000.
So April was worse than expected.
And March, 11,000 fewer jobs in March created only 143,000 there.
So you've got three months of less job creation than you thought.
Not us.
We weren't fooled.
We know these numbers get revised down every week.
Why don't you?
You're the journalist.
Here they are reporting the shocking news of the downward revision of the jobs news in March and April.
Again, we're not surprised here.
They're revised downward every week.
Four weeks equals a month.
You're going to get a big number.
The time you tabulate the revisions monthly.
Let me take a brief timeout, an obscene profit timeout.
You're at the EIB network.
Be right back.
By the way, folks, I have to tell you about a movie that opens today.
I saw some of it last night.
I got started late and I had to go to bed.
Yes, yes, I have a powerful, influential member of the media.
I have a screener.
And they captioned it for me, but they captioned it in Spanish.
So it's it's a it's the it's this Andy Garcia movie.
They've they're they're sponsoring it here on the program.
It is excellent.
It's for greater glory.
It's it's uh uh religious freedom in Mexico.
It's in 1917.
And it's an attack on the Catholic Church.
Catholics uh are mowed down, gunned down in church.
Uh senor Calle runs the country back then, says for the greater good for freedom, we've got to wipe out all the religious people.
It's it's it'll it'll infuriate you, but it's Andy Garcia's movie.
It's a great there was even a story about him uh this week.
I forget where, USA Today.
It's such a departure for a major Hollywood star to take on a role that promotes Christianity, that does not impugn it, laugh at it, make fun of it, promotes it.
And there are parallels to the attack on the Catholic Church today to this movie.
It's it's profound.
It's it's called for greater glory, and I and it opens today.
Now, Andy Garcia, he was in uh he's been in a lot of things.
He was in um Ocean's 11.
He is the owner of the Bellagio in uh Oceans.
I've seen him a bunch of times at the ATT ProM.
I've never met him.
But I've I've said hi, you know, walking past each other on the golf course.
Uh but it this is said in Mexico 1917.
It's Catholics who die.
They're gunned down, they're stabbed.
It's not too gory, but uh it's it's still it's explicit enough.
It's and these devout Catholics are fighting a leader of the country who has issued a mandate, the first thing in the movie issues a mandate to take from them their religious freedom and to destroy the church.
It's his ticket to total control over the country.
Is to take away Catholic religious freedom, and he sends his military people into the churches.
It's uh and it it starts, there's no slowness to this thing.
It gets right to it.
I'm gonna finish it uh tonight.
And they were so nice to caption this for me.
They even sent me two DVDs.
And I said, Well, maybe they sent a Spanish caption, and so I put the first of the Spanish captions.
Well, no big deal.
I'll just put the other disc in.
Put the other disc in, and it too was captioned in Spanish.
No, no, no, I didn't.
I haven't got the Avengers.
Now, this is the most recent screener that I've got.
Let me take a brief timeout.
We'll get to your phone calls in the next hour because it is open line Friday.
Sit tight, folks.
We will be back before you know it.
Charlie Rose had a guest on his TV show last night, uh, a guy named John Heileman, New York Magazine National Affairs editor.
Charlie Rose actually asked Heileman why are Republicans so passionate about beating Obama?
Why do the Republicans really want to beat Obama?
What do you think the answer was?
The question's absurd.
What do you think the answer was?
Exactly right, Snerdley.
Exactly.
Republicans want to beat Obama because they're racist.
That was the answer.
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