{"id":14946,"date":"2012-08-03T16:46:44","date_gmt":"2012-08-03T16:46:44","guid":{"rendered":""},"modified":"2012-08-03T16:46:44","modified_gmt":"2012-08-03T16:46:44","slug":"obama_close_minded_economic_bigot","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2012\/08\/03\/obama_close_minded_economic_bigot\/","title":{"rendered":"Obama: Close-Minded Economic Bigot"},"content":{"rendered":"

RUSH: The media and their cherry-picked economists are doing their best to dumb down the unemployment picture. They predict a hundred thousand jobs will be created in the month, and we get around 160,000, and they run around and say “better than unexpected.” They\u2019re all happy, and they\u2019re looking at this through the prism of Barack Obama\u2019s reelection. 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\u2019m beating my head against a wall. Sometimes I really wonder if spending all this time on economic news makes any sense anymore. <\/p>\n

This economy should be growing by hundreds of thousands of jobs every month. If this economy is to roar back, if we are to have a genuine recovery, if we\u2019re 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\u2019re talking 400, 500,000 jobs a month that must be created just to stay even before we even talk about any growth. They\u2019re out there doing handstands over 160,000 jobs, and that number\u2019s 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. <\/line><\/p>\n

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\u2019re told what to expect when. And it\u2019s 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 600,000 jobs a month, coming out of a recession. That\u2019s what\u2019s standard. That\u2019s what\u2019s normal. This isn\u2019t even a recovery. We\u2019re nowhere near a recovery. There\u2019s no strengthening going on. More and more people are becoming more dependent each day on the government. The welfare rolls — or the dependency rolls — are growing; they\u2019re not shrinking. And that growth is being promoted and advertised and sought by this administration. <\/p>\n

They get all excited about gross domestic product of 1.5, 1.7%. Hey, you know what? It was revised, it was actually 1.7 last month, not 1.5, whatever they\u2019re saying. This is the United States of America that we\u2019re talking about. Our GDP ought to be 5%, 6%, 7%, not one-and-a-half, not 1.7, not 1.9. It wasn\u2019t that long ago that we had five, six, 7% GDP growth. It wasn\u2019t 50 years ago. It was ten 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 when the Bush tax rates expire in January and before the regime\u2019s massive EPA and other regulations, which are being held back until after the election, and instituted if he wins. There\u2019s a whole bunch of damage that\u2019s 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. <\/p>\n

<\/a><\/p>\n

So what\u2019s 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\u2019ve said all this before, I don\u2019t know how many times since this guy was immaculated. I\u2019ve 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. <\/p>\n

What must be done cannot happen under Obama. It will not happen. He doesn\u2019t understand it. He is in an ideological straitjacket. He is obstinate and stubborn, and he\u2019s not all that smart. And we are paying the price. It is Barack Obama standing in the way of blue-collar jobs<\/a>. It\u2019s 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\u2019s a wet blanket. He\u2019s 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. <\/p>\n

There\u2019s a giant blanket smothering this economy. He\u2019s the one smothering our economy, smothering opportunity for young people; smothering hardworking people; smothering one industry after another. I\u2019ve got some sound bites coming up from a manager of 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. We\u2019re talking about real people who are being smothered; real people who can\u2019t find jobs; real people whose ability to create wealth is being impaired. These are not numbers. It isn\u2019t a game.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: I have some audio sound bites from President Obama a half hour ago at the White House, and then I have some facts and figures to illustrate how he\u2019s lying to us. Pure and simple. I don\u2019t know how else to say it. Let\u2019s just get started. Here he is bragging, bragging, folks, about job creation.<\/p>\n

OBAMA: This morning we learned that our businesses created 172,000 new jobs in the month of July.<\/p>\n

RUSH: Didn\u2019t happen.<\/p>\n

OBAMA: That means that we\u2019ve now created 4.5 million new jobs over the last 29 months —<\/p>\n

RUSH: Didn\u2019t happen.<\/p>\n

OBAMA: — and 1.1 million new jobs so far this year.<\/p>\n

RUSH: Didn\u2019t happen.<\/p>\n

OBAMA: Those are our neighbors and family members finding work, and the security that comes with work.<\/p>\n

<\/a><\/p>\n

RUSH: Sadly, folks, there were 195,000 fewer people employed in this country in July than there were in June. It might have been 172,000 new jobs. That\u2019s even debatable. But it was a net wash because — these are numbers from the BLS report. I\u2019m not making it up. Obama\u2019s Department of Labor\u2019s 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%. One-hundred and fifty thousand people simply dropped out of the labor force. Actually that number is 155,000, which means that this 172,000 new jobs that he\u2019s trumpeting are actually a wash, folks. No net new jobs, 195,000 fewer people employed, 150,000 simply dropped out of the labor force. That\u2019s the pattern. <\/p>\n

The percentage of people working continues to shrink. The number of jobs available in the country continues to shrink. Well, here\u2019s how they got there. In June, according to the BLS, there had been 142.4 million people employed. In July, it\u2019s 142.2. Two-hundred thousand fewer people employed. He goes out, “We created 172,000 jobs.” It\u2019s a lie when plugged in with all the other relevant data. And that\u2019s why the real unemployment rate, what\u2019s called U-6, when you include the people who\u2019ve given up looking, it\u2019s now 15%, and our buddy Jim Pethokoukis has his analysis of the numbers out.<\/a> We do this every month. We\u2019ve been doing this every month for three years. We\u2019ve been trying to hammer the truth home for three years. <\/p>\n

Every month for three years, it\u2019s the same old thing. The regime comes out, lies big time, and everybody\u2019s trying to tell us, essentially, we\u2019ve got a burgeoning, growing economy. We got the worst, there is no recovery. It\u2019s the worst recovery ever since the Great Depression. I would like for the president to have told us what\u2019s working, what it is that he\u2019s doing that\u2019s causing all this wonderful news to be reported today. He didn\u2019t take any questions. Fifteen percent is the U-6 unemployment number. Fifteen percent. 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. <\/p>\n

This man\u2019s economy has been so bad that there are over two million fewer jobs to have in this country. That\u2019s why everybody talks about job growth. It\u2019s not as though there are jobs unfilled out there. It\u2019s that there aren\u2019t any jobs besides those that we have. And we keep shrinking, that number keeps shrinking every month. Oh, 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\u2019s why job creation, new businesses, entrepreneurial growth, that\u2019s why the recipe that\u2019s called for that is what\u2019s not being done. That\u2019s why we are talking about job growth. We need to create jobs so that people have jobs to apply for. There aren\u2019t a bunch of jobs unfilled out there. <\/p>\n

<\/a><\/p>\n

In July, the number of people in the civilian labor force, 155 million. That\u2019s down by 150,000 from June. Every hard number is down. Every seasonally adjusted number is down. In fact, it\u2019s gotten so bad that even last night, the New York Times committed a random act of journalism. On a blog post, one of their economics writers, threw cold water before he even know what the numbers were, and he mighta known what the numbers were gonna be for all I know, threw cold water on whatever was announced today because it\u2019s really, really bad out there. The point was, it\u2019s gonna 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, random act of journalism. Here\u2019s the next Obama sound bite. This is where he says, “We\u2019re not gonna get where we need to be by going back.”<\/p>\n

OBAMA: Let\u2019s acknowledge, we\u2019ve still got too many folks out there who are looking for work. We\u2019ve got more work to do on their behalf. Here\u2019s the thing: We are not gonna get there, we\u2019re not gonna get to where we need to be if we go back to the policies that helped to create this mess in the first place.<\/p>\n

RUSH: You, sir, are the one creating the mess. The days of who created the mess are long gone. You inherited the mess, and you\u2019ve doubled down on it. You have made the mess even worse. It\u2019s amazing, these guys love Reagan, now and then. They hate Reagan most of the time, but sometimes they want to invoke Reagan\u2019s name. It\u2019s amazing, really, except when it comes to comparing economic recoveries, then they don\u2019t want to talk about Ronald Reagan. During this time in Reagan\u2019s 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\u2019s what Obama says we can\u2019t go back to. <\/p>\n

He doesn\u2019t know what he\u2019s talking about. Ideological straitjacket. A closed-minded economic bigot, is what Barack Obama is. Yeah, folks. I\u2019m 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\u2019t have the slightest clue what he\u2019s talking about while sounding condescending and arrogant as though he\u2019s got all the answers. In the meantime, you go through these numbers, 150,000 jobs, people leaving the labor force. Those are real people! Those are real lives that are being destroyed. <\/p>\n

And I\u2019m sorry, food stamps doesn\u2019t make up for it. Welfare benefits don\u2019t make up for it. Disability payments don\u2019t make up for it. Real people are being affected by this, and it\u2019s just disheartening to see. The greatest nation on earth, economic engine of the world. The economy that has created the wealth of the record is 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\u2019s one more. This is Obama. Yep, couldn\u2019t finish this off without telling us that patriotic Americans realize they\u2019re not paying enough taxes.<\/p>\n

OBAMA: Keep in mind, we\u2019re 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 —<\/p>\n

RUSH: Whoa, whoa, whoa.<\/p>\n

OBAMA: — heaven forbid they take a vacation once in a while —<\/p>\n

RUSH: What?<\/p>\n

OBAMA: — and that money goes back into the economy and businesses do well because they\u2019ve got more customers. And, you know, here\u2019s the thing. There are a lot of well-to-do Americans, patriotic Americans who understand this and are willing to do the right thing.<\/p>\n

RUSH: You hear that? He just redefined trickle up. Did you catch that? The money starts with the middle class, and as long as the middle class has money, then they go out and spend it, and that\u2019s 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, or that new computer for their kids when they\u2019ve got money in their pocket. So we gotta get money into the hands of the middle class. How we gonna do that? We\u2019re gonna do food stamps. Trickle up. So we got a brand-new economic definition here from Mr. Wizard of Smart. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Oh, my friends, it gets so tiresome. It really does. It\u2019s exhausting. 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 agree they\u2019re not paying enough taxes. We don\u2019t have economic classes in this society. That\u2019s the whole point. It is the whole point of free markets. We don\u2019t divvy people up this way. In a free market economy, people are moving in and out of every category their whole lives. <\/line><\/p>\n

You\u2019re not born into a caste in this country. You\u2019re not born into a class that you\u2019re forever — they look at this like they look at the economy as a zero-sum game: You\u2019re born middle class and that\u2019s it, you\u2019re forever screwed unless some angel like Obama comes along. We are our own angels in a free market economy. You talk about individual human beings in this country. We don\u2019t talk about people as members of a caste or class, as though they\u2019re slaves to some economic group, as defined by Obama or the IRS. I don\u2019t think this man has ever understood what the American dream means. Mr. President, I don\u2019t think you have the slightest idea. You wouldn\u2019t talk like you do. You wouldn\u2019t act like you do, if you understood the whole concept of the American dream.<\/p>\n

People in this country can come from nothing and be whatever they want to be, or they could. I try not to get too personal with this stuff. And I will admit, it gets frustrating. Three years talking about this stuff, and it doesn\u2019t seem to matter, three years and this rotten economic news doesn\u2019t seem to matter. It doesn\u2019t seem to move anybody. It\u2019s because there\u2019s so much welfare. I don\u2019t know why. So many food stamps. But it just doesn\u2019t seem to bother people. But people say to me, after hearing a show like this, “Why are you so concerned? You\u2019re doing okay, you could retire if you wanted to. What\u2019s it matter to you?” Well, they don\u2019t say that. They say, “You can\u2019t fix it for everybody.” <\/p>\n

You know, one of the things that\u2019s always driven me, one of the things that that I get the most joy out of my life is sharing what has happened to me. And having the knowledge that it can happen to anybody, for anybody. That\u2019s what\u2019s eroding. That\u2019s what\u2019s being destroyed. It used to be, the American dream, you come from nothing, it didn\u2019t matter where you were born, and didn\u2019t matter where you grew up. What mattered was you, how much did you have. And I\u2019m talking about desire, ambition, guts, commitment. You had all that, you could write your ticket. If you didn\u2019t have any of that, you weren\u2019t gonna be writing a big ticket. It was up to you. It was up to every American. And there used to be people who inspired others. There used to be heroes that people wanted to emulate. There 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. <\/p>\n

Those people are now under assault in this country. They\u2019re the suspects. They are the targets. The people that show the way, the people that provide the inspiration, whether they know they\u2019re 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\u2019s what\u2019s being destroyed. That\u2019s why I was talking to the 24-year-old guy yesterday <\/a>who was talking about how much fun it is. I worry that he\u2019s not gonna have the opportunity to create the kind of wealth that\u2019s possible or that used to be. Or don\u2019t even look at it that way if it bothers you. To be successful as he defines it. Whatever that would be. There\u2019s gonna be too many shackles, too many regulations, too many taxes, too many penalties for doing well, that\u2019s gonna take away what people earn. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: The media and their cherry-picked economists are doing their best to dumb down the unemployment picture. They predict a hundred thousand jobs will be created in the month, and we get around 160,000, and they run around and say “better than unexpected.” They\u2019re all happy, and they\u2019re looking at this through the prism of […]<\/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: Close-Minded Economic Bigot - 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:\/\/www.rushlimbaugh.com\/daily\/2012\/08\/03\/obama_close_minded_economic_bigot\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Obama: Close-Minded Economic Bigot - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: The media and their cherry-picked economists are doing their best to dumb down the unemployment picture. 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