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Aug. 3, 2012 - Rush Limbaugh Program
36:48
August 3, 2012, Friday, Hour #1
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Welcome to today's edition of the Rush 24-7 podcast.
This is so predictable.
So predict guess guess who just took the podium in Washington to explain the unemployment numbers today.
President Obama.
Right when this program begins.
And you know what he's saying?
We're never gonna get where we want to go if we go back to the policies of yesteryear.
As though we're getting where we want to go with his policies now.
Live from the Southern Command in sunny South Florida.
It's open line Friday.
You know what else Obama said?
He said, we have too many people out there, too many folks out there who are looking for work.
It's great to know the president's on the case.
Did you know that folks there are too many people out there looking for the president just said so at a at a well it wasn't a press conference, it's a press availability surrounded by all kinds of people.
Maybe 8.3% is where he wants to go because he says his plan worked.
He says his plan worked, he says his plan is working.
Hi folks, open line Friday.
Great to have you here.
You know how this works.
You get to choose what we talk about today when we go to the phones.
Telephone numbers 800 282-2882, the email address L Rushbow at EIB net.com.
I didn't hear all of what Obama said.
I'd say if if if the White House is happy, or if they're satisfied, or if something is if if if they're okay with the jobs report today, maybe maybe Obama could tell us what policies led to this good news today.
The media is so predictable.
The unemployment rate goes up.
Of course, when the rate goes up, you know what they focus on?
The total number of jobs created.
But the total number of jobs created is just a guess.
You know, once a month we go through this, how this all happens, the seasonal adjustment, and I'm going to do it again.
But I'm not going to lead off with this.
I'm not going to lead off with the numbers.
I've because I'm well, I'm not going to lead off with the in-depth explanation of what the numbers mean.
I I want to I want to go at this a little bit of a different way.
As I did maybe three weeks ago, or maybe last month.
As it really irks me how impersonal all this is as it's reported.
As though it's just statistics.
And there are people's lives behind these numbers, destroyed, ruined, harmed lives behind these numbers.
And all the media can do is look through that prism of gosh, how can we s massage this so that it helps Obama?
And it really is maddening.
While people's lives are being destroyed.
I had a 24-year-old young man on the program yesterday.
I was really, you know, he was talking about his career, wanted to have a career in writing.
He talked about how much fun it is.
At H24 with all the stuff, all the material.
Obama and the Democrats are providing him.
He was worried that the material would vanish if Obama happened to get beat, and I assured him that wouldn't be the case.
Because liberals are liberals and they're everywhere, and they're even more uproariously funny when they lose when they're out of power.
It's when they get really, really wacko fringe.
But I wanted to talk to him about the fun aspect of it.
It's a different, it's a generational thing.
Um it's fun.
I mean, I don't want anybody to misunderstand, but it's also very serious.
I mean, the country is you and I know it's hanging in the balance.
I want that young man to be able to have the chance to accomplish what I accomplished.
I don't want to be one of the last people to be able to pull off what I pull off.
I want everybody to be able to.
It's what bothers me about this.
I don't want that guy living with his parents at age 35.
I I don't I don't I don't want him facing a tax rate, making it impossible for him to acquire wealth and to be self-reliant.
I don't want don't want this.
That's I don't want him on food stamps.
I don't want this guy to have to be dependent on government for his needs, much less his wants.
This Obama can't go back to the policies of why can't we?
The policies, I could go through this.
You want to hear Reagan economic recovery numbers?
I have them for you.
That's the way out of this.
The way out of this is ditching this and ditching this guy and going back to free market capitalism.
That's the way out of this.
His way digs us deeper into this with no way out.
If this man gets four more years, the whole the whole concept of digging out is going to take on a whole new meaning.
It's not going to be impossible, but it's going to take a tremendous amount of time.
Dingy Harry doubling down, tripling down on the mint router.
You know what I think?
I think that that Harry Reed is doing for Mitt Romney what Ram Emanuel did for Chick-fil-A.
We're not yet at that degree, but what's happening here, it's obvious.
No, it's not obvious.
It is apparent to some that Romney campaign was on the defensive about this tax return business.
I don't think they ever should have been.
But I know that the Republican establishment, you know the names, over the past three weeks, they've been urging Romney just release the tax returns and get this issue off the table.
You got nothing to hide, get him out there.
We said, no, no, no, don't do it.
They're they all they want is a piece of paper or a whole bunch of pieces of paper that can make things up on and take you out of the race like Obama does to every opponent he's ever had.
Don't release the returns.
And Harry Reed is going so over the top that Romney can now say something to the effect, I'm not reacting to a lunatic.
It is obvious you've got a lunatic leading this effort to get me to release my tax rates.
This is it's allowed Romney to go on the offensive about this.
Is the is the sense I'm beginning to get about.
Dingy Harry doesn't have a whole lot of defenders.
Um and the question is, did somebody assign this role to Dingy Harry, or did he decide to do it on his own?
Did he draw the short straw?
Or did they ask him if he would do it and he eagerly accepted?
It's not out of the realm of his character to do this kind of thing.
This is the kind of stuff actually Dingy Harry loves doing, throwing out baseless, ridiculous, slanderous accusations, and then hiding behind the fact that he's a member of the Senate and can't be sued or any number of other protections.
But I If Democrats thought they had something with this, Dingy Harry is destroying it for them in the process of doing so.
So we got audio sound bites on that and and uh further in-depth analysis and the Olympics.
Ladies and gentlemen, the Olympics, I don't know if you heard this, but the Dream Team Three, or whatever they're calling the men's U.S. basketball team.
We creamed Nigeria by 83 points.
156 to 73.
The U.S. obliterated the African nation of Nigeria.
And Coach K is very upset at the accusation that he ran up the score.
Coach K is very upset That he would be accused of running up the screen.
So I was trying to hold my guys back.
We were not trying to pound them into the ground.
We couldn't help it.
They're just not very good.
156 to 7.
It's an 83 point win.
Coach Shievsky, Kazeski, Kazuski, however you wish to say, I'm trying to cover everything for the people in Rio Linda.
We didn't play LeBron J. We didn't play Kobe Bryant in the second half.
Carmelo shouldn't like that.
I mean, we benched him.
We didn't take any fast breaks in the fourth quarter.
We played all zone.
You have to take a shot every 24 seconds in this in this game, and the shots that we took happened to hit.
Accusing him of running up the score against the Nigerians.
That would have really irked Bob Costus if that had been happening.
But it is what it is.
Then over the did you see?
Did you are you watching any of this yet?
It was synchronized diving.
It was men's synchronized diving, and I didn't, I haven't seen any more men's synchronized diving.
Mr. Snerdley, I I haven't seen, I did not sit there and watch men's synchronized diving.
I was fast forwarding.
I saw it, I said I can, but what is this?
I stopped and looked at it for 10 seconds and I said, whoa, didn't know this was even an Olympic.
I've never heard of men's synchronized diving.
And then I moved on to what I was trying to find.
Anyway, Gabby Douglas won the uh all-around women's gold medal for the Americans last night in the uh in the gymnastics competition.
It was an amazing series of uh routines.
Okay, it's open line Friday, which means we also try to squeeze a lot of your phone calls in uh since it is Friday, try to start taking calls in the first hour when we usually don't.
So a lot is on tap here for my friends.
I want you to sit tight, be patient, we'll come back and get started with all the rest of it before you know it.
Don't go away.
Yet not groov on Rush Limbaugh and the EIB network open line of Friday, and we are now into our 25th year of service to all who live.
Okay, the media and their cherry picked economists are doing their best to dumb down the unemployment picture.
They go they predict uh 100,000 jobs will be uh created in the month, and we get around 160,000, and they run around and say better than expected.
And they're all happy, and they're looking at this through the prism of Barack Obama's re-election, anything they can do to cover up the bad news or lie about it and make it appear to be good news.
The United States economy, this economy, sometimes I feel like I'm I'm beating my head against the wall.
Sometimes I I really wonder if spending all this time on economic news makes any sense anymore.
This economy should be growing by hundreds of thousands of jobs every month.
This if if this economy is to roar back, if we are to have a genuine recovery, if we're to get back to some semblance of where this nation is in terms of the rest of the world and the economic engine that drives it.
We're talking 400,000, 500,000 jobs a month that must be created just to stay even before we even talk about any growth.
And they're out there doing handstands over 160,000 jobs, and that number's likely made up out of whole cloth because of a computer algorithm.
This is the worst so-called recovery after a recession in modern American history.
We are talking about the American economy here.
This economy is the engine of the wealth of the entire world.
We sit here.
We analyze a couple thousand jobs here, a couple thousand jobs there, a tenth of a percent increase or decrease in the unemployment rate, and we're told what uh to expect when.
And it's it's all just a game.
Everything is just a game to the elites that report this stuff, that calculate it, that disseminate it.
We need to be growing by 400,000 or 500, even six hundred thousand jobs a month coming out of a recession.
That's what's standard.
That's what's normal.
This isn't even a recovery.
We're nowhere near a recovery.
There's no strengthening going on.
More and more people are becoming more dependent each day on the government.
The welfare roles are the dependency roles are growing.
They're not shrinking.
And that growth is being promoted and advertised and sought by this administration.
Get all excited about gross domestic product of 1.5, 1.7%.
Hey, you know what it was revised is actually 1.7 last month, not 1.5.
Whatever they're saying.
Our GDP.
This is the United States of America that we're talking about.
Our GDP ought to be 5%, 6%, 7%, not 1.5%, not 1.7, not 1.9.
It wasn't that long ago that we had 5, 6, 7% GDP growth.
It wasn't 50 years ago.
It was 10 or less.
8.3% unemployment.
That means that under Barack Obama, unemployment has never been under 8%.
And this is even before all of the massive tax increases that are associated with Obamacare kick in.
Before the massive tax increases kick in with a Bush tax rates expire in January.
And before the regime's massive EPA and other regulations, which are being held back until after the election, you wait and instituted if he wins, there's a whole bunch of damage that's on hold, folks.
There are a whole bunch of regulations.
And a bunch of hidden fee increases, user fees, tax increases that are not scheduled to implement until after this election.
So what's the role of the media?
You know as well as I know.
The role of the media is to find good news for Obama wherever they can, even if they have to make it up.
Now I've said all this before.
I don't know how many times since this guy was immaculated.
I've said all this before.
The only way that we can grow this economy and create opportunities, create wealth, create jobs, see real GDP growth over 4%, see real job growth of hundreds of thousands a month.
The only way to do that is to get rid of this economically illiterate president who is driven by an ideological straitjacket that makes it impossible for him to do what must be done.
What must be done cannot happen under Obama.
It will not happen.
He doesn't understand it.
He is in an ideological strait jacket.
He is obstinate and stubborn, and he's not all that smart.
And we are paying the price.
It is Barack Obama standing in the way of blue-collar jobs.
It's Barack Obama standing in the way of small business job creation, big business job creation.
It is Barack Obama standing in the way of a healthy and vigorous economy.
He's a wet blanket.
He's a wet blanket that is holding this nation back while sitting there telling us that his policies have worked and that the only way out of this mess is to not go back to the failed policies of the past.
The policies of the past that worked are precisely what needs to be done and cannot be done as long as he is in the White House.
There's a giant blanket smothering this economy.
He's the one smothering our economy, smothering opportunity for young people, smothering hard-working people, smothering one industry after another.
I've got some sound bites coming up.
And From a manager at a coal plant asking, begging the American people to wake up.
His business has just been thrown out of business because of Barack Obama.
And his sheer hatred for coal.
The energy source, by the way, for his electric car from Obama Motors, the Chevrolet Volt, all of this.
We're talking about real people who are being smothered.
Real people who can't find jobs.
Real people whose ability to create wealth is being impaired.
Is it not numbers?
It isn't a game.
Have some audio sound bites from President Obama half hour ago at the White House.
And then I have some facts and figures to illustrate how he's lying to us.
Pure and simple.
Don't know how else to say it.
Let's just get started.
Here he is bragging.
Bragging, folks, about job creation.
This morning we learned that our business has created 172,000 new jobs in the month of July.
Didn't happen.
That means that we've now created 4.5 million new jobs over the last 29 months.
Didn't happen.
And 1.1 million new jobs so far this year.
Didn't happen.
Those are our neighbors and family members finding work and the security that comes with work.
Sadly, folks, there were 195,000 fewer people employed in this country in July than there were in June.
There were not 172,000.
It might have been 10272,000 new jobs.
That's even debatable.
But it was a net wash because there are 195.
These are numbers from the BLS report.
I'm not making it up.
Obama's Department of Labor's own numbers.
195,000 fewer people employed in the United States in July than there were in June.
We lost jobs.
We also lost more people from the labor force.
The national unemployment rate went up 8.2 to 8.3%.
150,000 people simply dropped out of the labor force.
Actually, that number's 155,000, which means that this what number is he using?
172,000 new jobs that he's trumpeting are actually it's a wash, folks.
No net new jobs, 195,000 fewer people employed, 150,000 simply dropped out of the labor force.
That's the pattern.
The percentage or the number of jobs available in the country continues to shrink.
Well, here's how they got there.
In June, according to the BLS, there had been 142.4 million people employed.
In July, it's 142.2.
200,000 fewer people employed.
He goes out, we created 172,000 jobs.
It's a it's a lie.
When plugged in with all the other relevant data.
And that's why the real unemployment rate, what's called U6, when you when you include the people who've given up looking.
It's now 15%.
And our buddy Jim Pethacukis has his analysis of the numbers out.
We do this every month.
We've been doing this every month for three months, been trying to hammer the truth home for three three years.
Every every month for three years, it's the same old thing.
The regime comes out, lies big time.
And everybody's trying to tell us essentially we got a burgeoning growing economy.
We got the worst.
There is no recovery.
It's the worst recovery ever since the Great Depression.
I would like for the president to have told us what's working, what it is that he's doing that's causing all this wonderful news to be reported today.
He didn't take any questions.
Fifteen percent is the U6 unemployment number.
15%.
And if this 8.3% number, if the labor force participation rate were today what it was when Obama was inaugurated, that number would be 11%.
In fact, probably could go ahead and call it 11% in order to try to make the point because the labor force has shrunk.
This man's economy has been so bad that there are over two million fewer jobs to have in this country.
That's why everybody talks about job growth.
It's not as though there are jobs unfilled out there.
It's that there aren't any jobs besides those that we have, and we keep shrinking.
That number keeps shrinking every month.
Yeah, yeah, in pockets you can find companies with openings, people looking for work.
But nationwide, overall, the universe of jobs able to be filled, is down by over two million.
That's why job creation, new businesses, entrepreneurial growth.
That's why the recipe that's called for for that is what's not being done.
That's why we are talking about job growth.
We need to create jobs so that people have jobs to apply for.
There aren't a bunch of jobs unfilled out there.
In July, the number of people in the civilian labor force, 155 million.
That's down by 150,000 from June.
Every hard number is down.
Every seasonally adjusted number is down.
In fact, it's gotten so bad that even last night the New York Times committed a random act of journalism.
And on a blog post, one of their economics writers through cold water before he even knew what the numbers were, and he might have known what the numbers were going to be for all I know, threw cold water on whatever was announced today because it's really, really bad out there.
And it's he's the point was it's going to be really, really easy to misunderstand some misleading numbers that might make it look good or better than it is.
The New York Times last night, admittedly on a blog post.
Here's the next Obama soundbite.
This is where he says we're not gonna get where we need to be by going back.
Let's acknowledge.
We've still got too many folks out there who are looking for work.
We've got more work to do on their behalf.
Here's the thing.
We are not going to get there.
We're not going to get to where we need to be.
If we go back to the policies that helped to create this mess in the first place.
You, sir, are the one creating the mess.
The days of who created the mess are long gone.
You inherited the mess and you've doubled down on it.
You have made the mess even worse.
You want to go back and compare.
We've done this too.
You want to go back and compare?
It's amazing these guys love Reagan now and then.
They hate Reagan most of the time, but sometimes they want to invoke Reagan's name.
It's amazing, really.
Except when it comes to comparing economic recoveries.
Then they don't want to talk about Ronald Reagan.
During this time in Reagan's first term, our economy was growing at 6%, the GDP.
Unemployment was dropping like a rock from double digits under Carter.
We were creating 600,000 jobs a month.
And when Reagan was done, we had created over 20 million new jobs.
Economic growth for 25 years like the nation had not seen in a century.
So yeah, that's what Obama says we can't go back to.
He doesn't know what he's talking about.
Ideological straitjacket.
A closed-minded economic bigot is what Barack Obama is.
Yeah, folks, I'm sorry.
I am mad.
I am mad at what is being done to this country, and I get infuriated listening to an arrogant know-it-all tell the world essentially that he doesn't have the slightest clue what he's talking about, while sounding condescending and arrogant as though he's got all the answers.
In the meantime, you go through these numbers of 150,000 jobs of people leave the labor.
Those are real people.
Those are real lives.
That are being destroyed.
And I'm sorry food stamps doesn't make up for it.
Welfare benefits don't make up for it.
Disability payments don't make up for it.
Real people are being affected by this.
And it's just, it's it's it's disheartening to see it.
Greatest nation on earth, economic engine of the world.
The economy that has created the wealth of the world, essentially under assault here by a bunch of arrogant economic bigots, know-it-alls, elites, nothing but a bunch of theoreticians whose only experience with any of this is talking about it in the faculty lounge or in class.
And here's one more.
This Obama.
Yep, couldn't finish this off without telling us that patriotic Americans realize they're not paying enough taxes.
Keep in mind, we're talking about folks like me going back to the tax rates that existed under Bill Clinton.
If you remember, that was when we created 23 million new jobs.
We went from deficits to surplus.
And folks at the top did well too, because when middle class families have money in their pockets, they go out and buy that new car or that new appliance or the new computer for their kids, or they go out to a restaurant.
Or heaven forbid they take a vacation once in a while, and what?
That money goes back into the economy and businesses do well because they've got more customers.
And you know, here's the thing.
There are a lot of well-to-do Americans, patriotic Americans, who understand this and are willing to do the right thing.
You hear that?
He just redefined trickle up.
Did you catch that?
The money starts for the middle class, and as long as the middle class have money, then they go out and spend it, and that's how the rich get rich.
Wow.
Wow.
Folks at the top did well too, because when middle class families have money in their pockets, they go out and buy that new car, that new appliance, and that new computer for their kids when they've got money in their pocket.
And boy, that's that's when the rich really so we got to get money into the hands of the middle class.
How are we going to do that?
We're going to do it with food stamps.
Trickle up.
So we got a brand new economic definition here for Mr. Wizard of Smart.
And we will be right back.
Open Line Friday resumes after this.
Ah, my friends, it gets so tiresome.
It really does.
It's exhausting.
Let me let me try to explain something to our absolutely uneducated, delinquent, economic bigot of a president.
He talks about this class and that class, trickle down and trickle up and trickle sideways and rich folks and middle class folks and vacations and toasters and cars and rich people doing well and poor people doing well and rich people agreeing they're not paying enough tax.
We don't have economic classes in this society.
That's the whole it's the whole point.
It is the whole point of free markets.
We don't divvy people up this way.
In a free market economy, people are moving in and out of every category their whole lives.
You're not born into a caste in this country.
You're not born into a class that you're forever.
They look at this like they look at the economy as a zero-sum game.
You're born middle class and that's it.
You're forever screwed unless some angel like Obama comes along.
We are our own angels in a free market economy.
He talk about individual human beings in this country.
We don't talk about people as members of a caste or class, as though they're slaves to some economic group, as defined by Obama or the IRS.
I don't think this man has ever understood what the American dream means.
Mr. President, I don't think you have any slightest idea.
You wouldn't talk like you do.
You wouldn't act like you do.
If you understood the whole concept of the American dream, people in this country can come from nothing and be whatever they want to be, or they could.
This is what you know, I try not to get too personal with this stuff.
And I will admit it gets frustrated.
Three years talking about this stuff, and it doesn't seem to matter.
Three years, and this rotten economic news doesn't seem to matter.
It doesn't seem to move anybody.
It's because there's so much welfare, I don't know why, so many food stamps, but it just doesn't.
It doesn't seem to bother people.
But people say to me, after hearing a show like this, though, why are you so concerned?
You you're doing okay.
You could retire if you wanted to.
What's it matter to you?
Now they don't say that.
They say, Why what what you you can't fix it for everybody.
Um, one of the things that's always driven me, uh one of the things that I get the most joy out of my life is sharing what has happened to me.
And being able, having having the the knowledge that it can happen to anybody, for anybody.
That's what's eroding it.
That that's that's what's being destroyed.
It used to be the American tree, you come from nothing.
It was it didn't matter where you were born, and didn't matter where you grew.
What mattered was you.
How much did you have?
And I'm talking about desire, ambition, guts, commitment.
You had all that, you could write your ticket.
If you didn't have any of that, you weren't going to be writing a big ticket.
Was up to you.
Was up to every American.
And there used to be people who inspired others.
There used to be heroes that people wanted to emulate.
They used to be role models that people wanted to be like.
And those people generally achieved things.
They were accomplished people.
In whatever field.
They served as role models.
Those people are now under assault in this country.
Those people are the they're the suspects.
They are the targets.
The people that show the way, the people that provide the inspiration, whether they know they're doing it or not, the people that light the path, those are the people that are the enemy to Barack Obama.
I want everybody to have the chance I had.
I want everybody to be able to pull off what I pulled off in whatever field of endeavor they want.
Whatever success is to you, I want you to be able to reach it, however, you define it.
That's what's being destroyed.
That's why talking to the 24-year-old guy yesterday who was talking about how much funny is I I worry that he's not gonna have the opportunity to create the kind of wealth that's possible or that used to be.
Or don't even look at it that way if that if it bothers you to to to be successful as he defines it.
Whatever that would be there's gonna be too many shackles, too many regulations, too many taxes, too many penalties for doing well that's gonna take away what people earn.
I gotta take a break.
Okay, I didn't get the phone calls in this hour, which means I obviously will in the hour coming up.
So be patient.
If you are on hold it means that we probably want to talk to you.
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