{"id":11365,"date":"2013-09-16T16:45:22","date_gmt":"2013-09-16T16:45:22","guid":{"rendered":""},"modified":"2013-09-16T16:45:22","modified_gmt":"2013-09-16T16:45:22","slug":"obama_claims_credit_for_robust_recovery","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2013\/09\/16\/obama_claims_credit_for_robust_recovery\/","title":{"rendered":"Obama Claims Credit for Robust Recovery"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: Now, today, ladies and gentlemen, “President Barack Obama is seeking credit for an economic turnaround, using the fifth anniversary of the collapse of the Lehman Brothers investment bank to highlight signs of recovery and to warn against potentially market-rattling fights over the federal budget and the nation\u2019s debt ceiling.” That\u2019s right, you heard me. “Obama was scheduled to address the state of the economy Monday in a Rose Garden speech…”<\/p>\n

Now, I don\u2019t know if this is still on, what with the naval yard shooting<\/a>. But the original plan (and it may still be in place) was a state of the economy speech in the Rose Garden to talk about how great it is, how wonderful it is, this massive recovery. Folks, in five years, we\u2019re gonna talk about how great Obama has recovered this economy. He will be “accompanied by a selection of Americans who the White House says have benefited from the administration\u2019s policies.<\/p>\n

<\/p>\n

“The event marks the start of a week-long focus on the economy after a month of preoccupation with the crisis in Syria.” So they\u2019re just making stuff up now. What in the world are they taking credit for? The only place where there\u2019s anything to crow about economically is Washington, DC, and the areas of the country where there is fracking for oil going on — and a couple of other pockets. But there are 90 million Americans not working. The labor force participation rate has plummeted. <\/p>\n

Unemployment? If the same number of jobs existed today as when Obama took office five years ago, the unemployment rate would be near 11%. There is no economic recovery. Try this. “Over 65,000 US Bridges in Need of Repair.” Again, the AP reporting. <\/p>\n

“An Associated Press analysis of 607,380 bridges … showed that 65,605 were classified as ‘structurally deficient\u2019 and 20,808 as ‘fracture critical.'” Of the 65,000 structurally deficient and 20,000 fracture critical, almost 8,000 were both. Now, I read that, and I said, “Well, now that\u2019s impossible, because we did a stimulus. We had the now-famous stimulus bill in March of 2009, two months after Obama was inaugurated, that dealt with this. We rebuilt all the roads and bridges.” <\/p>\n

While we were at it, we rebuilt all the crumbling schools — and while we were at it, we rebuilt some roads. And then rebuilding the roads, we rebuilt the bridges. What is this, 20,000 bridges are fracture critical? After how many stimuli? And the president\u2019s gonna run out there in the Rose Garden today, that\u2019s the plan, with a bunch of Americans that supposedly have benefited from his policies, claiming credit for a robust economic recovery. This is all to set the stage (with the media helping, of course) to alarm anybody over the fact the Republicans might shut down the government.<\/p>\n

(Gasp!) No, not the Republicans again! Oh, no! <\/p>\n

This is how it happens. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Well, that Rose Garden event that I was talking about is happening anyway. They moved it indoors because of the rain and the president right now giving some remarks on what they don\u2019t know about the Washington Naval Yard shooting. So the speech on the robust economic recovery, or the event on the robust economic recovery, is still on, and he\u2019s giving a speech, and he\u2019s got the props up there. This is a guy said he didn\u2019t care about “style points.” <\/line><\/p>\n

He was asked about Putin\u2019s op-ed in the New York Times<\/a>. “I don\u2019t care about style points. I\u2019m not into style points and imagery and all that,” as he\u2019s surrounded by supposed success cases in this massive economic recovery. The White House report on the economy just came out. Adjusted for inflation and population, only 45% of wealth lost during the recession has been recovered. That\u2019s from the White House own report. It\u2019s in a Daily Caller piece<\/a>. <\/p>\n

So we\u2019re out here getting ready for the 2014 midterms, and we\u2019re trying to head off what might be an effort to defund Obamacare in Congress via the next continuing resolution, so we\u2019re throwing a party. We\u2019re gonna throw a party about economic recovery and how great this recovery\u2019s been. “Why, we finished that recession in 2009, and we\u2019ve been going bang busters ever since! Why, ever since the recession happened, we\u2019ve recovered 45% of the wealth that was lost. That\u2019s how great this recovery\u2019s been.” <\/p>\n

That\u2019s right. <\/p>\n

Not even half the wealth that was lost in the market plunge and job losses, you name it, however you can tabulate the loss of wealth. And, by the way, that\u2019s an aggregate number. Not everybody\u2019s wealthy, but when you add up the amount of money that everybody lost, the category is called “wealth,” and this recovery\u2019s been so robust — Ha! — that even the White House own report claims that we have recovered roughly 45% of the wealth lost during then recession.<\/p>\n

Now, this report does say that over the past 3.5 years, our businesses have created 7.5 million new jobs. Our businesses have created 7.5 million new jobs. Well, the population\u2019s grown seven million, roughly through the arrival of five million immigrants. The report does not mention wages or salaries, even though they have dropped for another all Americans since 2009. It doesn\u2019t mention inequality, which has risen since 2009 — which I just, again, mentioned. <\/p>\n

They\u2019re just making it up, and they\u2019re making it up at the White House because they know they can. Low-information voters are gonna believe it. The media is gonna amplify it. If anybody stands up and tries to speak truth to power, they\u2019ll be shouted down as an extremist member of the Tea Party who\u2019s a racist and doesn\u2019t like the president because of his race. So they just get to make it up. (interruption)<\/p>\n

Yeah, I think the low-information voter people believe it. Snerdley just asked, “Do you think the low-information voter people believe it, \u2019cause they\u2019re the ones suffering?” We\u2019ll have to wait and see. You know, the presidential approval poll numbers are all falling. But, again, nobody knows that. It isn\u2019t being reported. So I don\u2019t know that the low-information voter people who are suffering make of it. What\u2019s likely to happen, Snerdley, since you asked is…<\/p>\n

Look at what\u2019s being reported. “We\u2019re going gangbusters! The economy coming back! Whoa, seven million new jobs!” If you\u2019re a low-information person, you\u2019re saying, “My time is near, my ship\u2019s about to come in, and I\u2019m gonna make sure I\u2019m not at the airport.” You\u2019re gonna think positive. You\u2019re gonna think it\u2019s starting to happen for everybody. It hasn\u2019t happened for you yet, but your time is coming. That\u2019s exactly what they\u2019re gonna count on. Everything is imagery. <\/p>\n

Nothing\u2019s real here in this country, the only geographical area where there is no sign of any economic trouble whatsoever is Washington. I kid you not — and even there, if you go to inner city Washington, there are signs of economic problems, but nobody talks about that. But where the ruling class lives and works, there isn\u2019t any economic problem — and there wasn\u2019t, even with the collapse. Everybody got bailed out. <\/p>\n

<\/a>I keep hearkening back to that great piece that we quoted at the time it came out, Angelo Codevilla, whose piece I quoted extensively from<\/a>: The ruling class versus the country class. That would be us. And, you know, thanks to the Drive-Bys, things are the reverse of what everybody thinks is the case. Remember in the Bush years, things were doing absolutely great. There was a legitimate and real economic recovery coming out of 9\/11 and a recession.<\/p>\n

And the news media for five years spent every day telling people that a recession was coming. It was right around the corner, the beginnings of it, and they made people believe it. They made people believe there was a recession, and they made people start behaving as though there was one. So now things are the reverse of when we were told that we were suffering under Bush, and everybody thought it must be somebody else. You\u2019d go into a neighborhood and say, “How are you doing?”<\/p>\n

“I\u2019m doing fine, I\u2019m doing great, but I look in the news and I see a lot of people unemployed and losing their business. Yeah, I feel bad about it, but I\u2019m doing fine.” Now, they go in the neighborhood. “How you doing?” “Gosh, I can\u2019t find a job, I\u2019m doing horribly out there, but I look at the news, and seven million people found a job, so my time\u2019s coming. I\u2019m feeling good. Country\u2019s coming back.”<\/p>\n

That\u2019s how the low-information people are gonna hear it, Snerdley. They\u2019re gonna hear positive news, they\u2019re gonna assume it\u2019s positive for everybody else except them, but their time is coming we\u2019ll see. (interruption) Well, if you disagree with that, I want you to show me the evidence of where there is any national clamor for there to be a change of what\u2019s happening in Washington, outside of the Tea Party. I want you to show me: Where is the low-information uprising?<\/p>\n

Where is the low-information voter nationally clamoring for change? There is not any. It\u2019s just the exact opposite — and again, the numbers are what they are. The income gap between rich and poor is the widest ever, the employment and wealth gap. Two things. The employment gap between rich and poor, widest on record. The wealth gap between rich and poor, widest on record. Again, under a Democrat regime. <\/p>\n

These people spend their time talking about reducing income gap and that wealth gap, how unfair it is. But the truth of any liberal, quasi-socialist regime is being borne out here. They always do well for themselves. They do extravagantly well for themselves, and they get away with making everybody think that they care about them as well. So it\u2019s gonna be a tough week, folks, attitudinally. It\u2019s gonna be a tough week psychologically.<\/p>\n

Because the pressure is being brought to bear on anybody who opposes this myth that there is an economic recovery, the myth that Obama\u2019s policies have brought us to a new economic reawakening, a burgeoning reawakening. “Why, we on the verge here of economic progress the likes of which we\u2019ve never seen!” That\u2019s what this week is gonna tell us. “We beat back the Syrian bad guys. We stopped the spread of chemical weapons.<\/p>\n

“We\u2019re ready to take it to the Iranians. It\u2019s a miracle, all of the wonderful, great things we\u2019re doing,” and anybody who opposes it and anybody who says it isn\u2019t happening — anybody who disagrees with it — is going to be targeted for some kind of attack that is designed to discredit them, impugn them, or worse. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Here\u2019s Obama in Washington, at the White House, speaking about the five-year anniversary of the financial crisis.<\/p>\n

OBAMA: By the time I took office, the economy was shrinking by an annual rate of more than 8%. Our businesses were shedding 800,000 jobs each month. It was a perfect storm that would rob millions of jobs and homes and savings that they had worked a lifetime to build.<\/p>\n

RUSH: So this is the setup, see? This is how it all happens. They set the table for how bad it was — so bad, that nothing was gonna work very soon. It was worse than we even knew! Now, I don\u2019t know about the economy shrinking by an annual rate of more than 8%. Folks, we wouldn\u2019t be talking recession if that were happening. If that had been happening, there\u2019s no way. An annual rate of more than 8%?<\/p>\n

<\/p>\n

My gosh, we\u2019da had soup lines. There\u2019s just no way. I mean, we\u2019re celebrating economic growth of 1.5% a year now. They\u2019re out there celebrating it! There\u2019s no way. Those 800,000 jobs every month? No. Try six to 700,000, and you know when it began? Those numbers began in November of 2008, after the confluence of financial crisis bailout and Obama\u2019s election. It was 700,000 jobs a month. People were being let go. <\/p>\n

This financial crisis, remember what that was. That was the subprime mortgage crisis final come home to roost. It was the idea of giving people mortgages who couldn\u2019t pay it back and weren\u2019t paying it back, not being foreclosed on, keeping their homes. The mortgages were sold and sold and sold to unsuspecting buyers who had no idea they were worthless, until there was nobody left to buy \u2019em — and then that\u2019s when the collapse happened. <\/p>\n

All these created products were to convince people they were buying something with value when it wasn\u2019t of any value. Finally they ran out of saps to sell it to. Hello, financial crisis. But people didn\u2019t start losing their homes and their savings and all that until this guy took office. Robustly. That\u2019s the thing that continues to amaze all of us, is how any accountability for that has been escaped, although it\u2019s now been explained, the Limbaugh Theorem. Here is the next bite. <\/p>\n

This where Obama says he\u2019s fixed all that.<\/p>\n

OBAMA: Over the last 3-1\/2 years, our businesses have added 7-1\/2 million new jobs. The unemployment rate has come down, our housing market is healing, our financial system is safer. Health care costs are growing at the slowest rate in 50 years, and just two weeks from now, millions of Americans who\u2019ve been locked out of buying health insurance just because they had a preexisting condition, just because they\u2019ve been sick or they couldn\u2019t afford it, they\u2019re finally gonna have a chance to buy quality, affordable health care on the private marketplace. What all this means is we\u2019ve cleared away the rubble from the financial crisis and we\u2019ve begun to lay a new foundation for economic growth and prosperity.<\/p>\n

RUSH: See how easy this is? <\/p>\n

You just go out and say it. <\/p>\n

They\u2019re just make this stuff up. People are losing their jobs today because of Obamacare! The high-risk pools, that\u2019s the preexisting-condition insurance. They\u2019re called high-risk pools that people sign up for. Nobody signed up for \u2019em! Everybody in the regime is still stunned and amazed that people haven\u2019t signed up for the high-risk pool. That\u2019s what preexisting-condition insurance is being called in the vernacular of Obamacare. <\/p>\n

So now, folks, see? We\u2019re starting to rebound now, and the financial system is safer, and people are getting jobs, and the unemployment rate\u2019s coming down. You know what a myth that is? But he\u2019s out saying it. So now if you\u2019re not part of this, if you\u2019re left out of this, you think, “Well, everybody else is doing okay. That\u2019s cool. My time is coming. It\u2019s only a matter of time for me now — and if I\u2019m time isn\u2019t coming, I\u2019ve got all kinds of government help.” <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Okay, so it started out really bad when Obama took office: 800,000 jobs a month were being lost, the economy was shrinking by 8%, homes were being lost, jobs were being lost, savings were being lost. But now it\u2019s fixed, and the only problem we have left is the Republican Congress.<\/p>\n

OBAMA: The top 1% of Americans took home 20% of the nation\u2019s income last year while the average worker isn\u2019t seeing a raise at all. In fact, that understates the problem. Most of the gains have gone to the top one-tenth of 1%. So in many ways the trends that have taken hold over the past few decades of a winner-take-all economy where a few do better and better and better while everybody else just treads water or loses ground, that\u2019s what we should be focused on. That\u2019s what I\u2019m focused on.<\/p>\n

<\/p>\n

RUSH: All right. Now, this is really… For me, this is really troubling, the level of deceit here, and what he is signaling that is our future. The top 1% of Americans took home 20% of the nation\u2019s income last year, and they\u2019ve been doing it on his watch. By the way, he\u2019s been president. We\u2019re coming up on five years now, and his policies all of these five years have been designed to reduce this gap, all this talk that he\u2019s engaged in about “growing the middle class.”<\/p>\n

Of course none of it\u2019s hands. <\/p>\n

None of it was going to happen. Because of his policies, it can\u2019t happen. What has happened is that his rich donors on Wall Street and Hollywood, they are getting the QE3 money. That\u2019s why the top 1% is getting wealthier. There are six counties where the median income, family income is over a hundred grand a year. The median income throughout the country is $51,000, median family income. <\/p>\n

There are six counties where the median family income is twice that, and four of those counties are suburban Washington. One\u2019s in New Mexico and one\u2019s in New Jersey. This income gap between the rich and poor is widening. If the Federal Reserve is printing $85 billion a month and it\u2019s going to buy stocks, who\u2019s on getting the money? This is after a bunch of income tax increases, too! I mean, Barack Obama is seeing to it that the rich are the ones getting rich.<\/p>\n

They\u2019re his donors, his buddies, and he\u2019s gonna be one of them when he leaves office. This is all about making more and more people more and more dependent on Washington every day. That\u2019s what amnesty\u2019s about. It\u2019s what his policies are all about. But this: “The top 1% of Americans took home 20% of the nation\u2019s income last year while the average worker isn\u2019t seeing a raise at all.” How come what you\u2019re doing isn\u2019t working? <\/p>\n

Nobody\u2019s gonna ask him that. So when he says the rich are doing better and better, and everybody else just treads water and loses ground, that\u2019s where we should be focused on. So what he\u2019s going to do is, he\u2019s going to come back and demand even more taxes on the rich. Not “the wealthy,” the rich. They\u2019re small business owners. There\u2019s a big difference. The people getting this QE3, QE4, whatever it is, the money being printed, that\u2019s not who we\u2019re talking about with rich. <\/p>\n

We\u2019re not talking about Bill Gates and Warren Buffett and these people getting a tax increase. People at $250,000 a year are getting a tax increase. That\u2019s what the rich are in Obamaville. The income disparity, this lack of fairness is going to be the impetus behind higher and higher taxes on the rich. That\u2019s what this is all setting up. Because the rest of the country is working now. We\u2019ve got it fixed. Everything is good now! <\/line><\/p>\n

Health care\u2019s cheaper, jobs are being created, and economy\u2019s growing, and financial markets are safe now. The only problem is those damn rich people are too rich, and the Republicans in Congress that represent \u2019em. So that\u2019s all we gotta do — and when we do that, then we\u2019ve fixed everything fundamentally wrong with this country. “A new NBC\/Wall Street Journal poll reveals Americans are unconvinced that Obamacare will improve the country\u2019s health care system,” and check this number:<\/p>\n

“Only 12% say the law will have a positive effect on their family and even the uninsured are skeptical Obamacare will do them any good. … Even worse, only 23% of all respondents say the law will benefit the healthcare system and paltry 12% believe the law will have a positive impact on their family.” So while Obama\u2019s up there celebrating his great economic recovery policies, in the real world, only 12% of the people of this country think Obamacare\u2019s gonna do them any good. <\/p>\n

We already know this. We know exactly what Obamacare is going to do to people, and the regime can engage in all the PR and all the presidential speeches they want; it isn\u2019t going to change what people really think. The remaining mystery is where is the Republican Party on this. By simple math you could concluded here that (let\u2019s just round it up) 75% of the American people oppose Obamacare. <\/p>\n

Why doesn\u2019t the Republican Party in Washington want to try to connect with those people and establish a relationship, a political relationship with them as a party that represents their interests and their desires? Why does that not happen? We may have a partial answer when we learn that Republican congressional staffers don\u2019t want any changes in Obamacare because theirs is going to be subsidized, like all the Democrat congressional staffers\u2019 health care will be subsidized. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Now, today, ladies and gentlemen, “President Barack Obama is seeking credit for an economic turnaround, using the fifth anniversary of the collapse of the Lehman Brothers investment bank to highlight signs of recovery and to warn against potentially market-rattling fights over the federal budget and the nation\u2019s debt ceiling.” That\u2019s right, you heard me. […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nObama Claims Credit for Robust Recovery - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/admin.rushlimbaugh.com\/daily\/2013\/09\/16\/obama_claims_credit_for_robust_recovery\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Obama Claims Credit for Robust Recovery - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Now, today, ladies and gentlemen, “President Barack Obama is seeking credit for an economic turnaround, using the fifth anniversary of the collapse of the Lehman Brothers investment bank to highlight signs of recovery and to warn against potentially market-rattling fights over the federal budget and the nation\u2019s debt ceiling.” That\u2019s right, you heard me. 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