{"id":18803,"date":"2011-04-19T01:01:01","date_gmt":"2011-07-20T00:21:02","guid":{"rendered":""},"modified":"2011-07-20T00:21:02","modified_gmt":"2011-07-20T00:21:02","slug":"default_talk_is_a_scare_tactic","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/04\/19\/default_talk_is_a_scare_tactic\/","title":{"rendered":"Default Talk is a Scare Tactic"},"content":{"rendered":"
\n

RUSH: Adam in Anderson, Indiana, as we go back to the phones. Hello, sir. I\u2019m glad you called.<\/p>\n

CALLER: Hey, Rush. Fellow conservative and Rush Baby dittos from Indiana.<\/p>\n

RUSH: Thank you, sir.<\/p>\n

CALLER: I couldn\u2019t disagree with your last caller any more. I mean when I look at Trump, I look at this guy, I mean if this guy gets elected, I mean what are we, the Roman Empire? I mean sure we conquered in our history, you know, in ancient — 1700s or whatnot, but that\u2019s gone and we\u2019re a more noble nation now. And I mean when I look at his policies, I mean he wants a 25% tariff on Chinese imports? I mean what is this, Herbert Hoover again? I mean we already have inflation. <\/p>\n

RUSH: Now, we all know what Trump is doing here. Trump\u2019s engaging in some good old-fashioned populism. When Trump says that we went in there and we saved that country, we spent a trillion and a half dollars, that oil should be ours, he knows that there are going to be a lot of Americans who think that defines fairness. Whether it has to do with conquering or not, he thinks that\u2019s fair. Also he has heard people berate the ChiComs. He knows that people think that we\u2019ve lost the manufacturing base. He knows that people think everything\u2019s made in China, the Chinese are making out like bandits, and our stuff costs too much because of everything else so let\u2019s go get even with them. He knows that there are a lot of people who will support anybody who sounds like their main purpose is to get a fair deal for America. So it\u2019s a foray into populism. This certainly isn\u2019t conservatism.<\/p>\n

CALLER: Oh, no, it\u2019s not. I mean that\u2019s the opposite of the free market as far as I\u2019m concerned. And I mean one other point I wanted to say, this debt ceiling, I mean Republicans, I heard Geithner on this weekend, I mean that just reminded me of Hank Paulson in 2009. That was so similar. I mean how he said the world\u2019s gonna collapse if we don\u2019t bail out all these banks. But here\u2019s the thing. There\u2019s a third option. We do not have to default. What has happened, we just can\u2019t sell any more Treasury bonds. We\u2019ve reached the debt ceiling. They call it debt ceiling for a reason. We still have revenue. We just had a tax day, let\u2019s use that money to pay the interest, pay our current bondholders and get rid of discretionary spending and let\u2019s — <\/p>\n

RUSH: There is — (crosstalk)<\/p>\n

CALLER: — sound budget.<\/p>\n

RUSH: That\u2019s right. There is that option, just leave the debt sitting where it is, start living within our means. It\u2019s what Obama said, we gotta stop spending more than we take in, just leave the debt sitting where it is and don\u2019t raise it. Yeah, that\u2019s an option. It\u2019s far more reasonable, in fact, than the sales pitch we\u2019re getting, and that is if we don\u2019t raise it the financial system of the world collapses. If we don\u2019t raise it the country\u2019s over. How many times are we gonna let \u2019em go back to that well? They have been using that line and that threat since the fall of 2008. We needed TARP. We needed the stimulus. We needed everything. It was a crisis of immediate proportion and if we didn\u2019t deal with it in 24 hours we couldn\u2019t guarantee the solvency of our economy, much less the worlds. They\u2019re back to it again here. (interruption) Well, the baselines might push it over, but at some point you\u2019re gonna have to stop it. We raised the debt ceiling a trillion and a half dollars two years ago and we\u2019re already gonna exceed it, a year and a half ago. There\u2019s no reason that says we just leave the debt ceiling where it is. How much money is unspent from TARP? <\/p>\n

I\u2019ve got a story here, it\u2019s the $20 billion BP fund to handle all these people that got soaked because of the oil spill. None of the money\u2019s been spent. Twenty billion-dollar fund barely tapped, CNN story: “The fund established to compensate Gulf Coast residents in the aftermath of last year\u2019s massive BP oil spill said Monday it has paid out $3.8 billion so far. The Gulf Coast Claims Facility, established last August with $20 billion in seed money from BP (BP), said that most of the money is unspent.” Now, this was a shakedown. No question it was an Obama shakedown of BP. BP happily paid the shakedown money as a sort of a get out of jail free card to stop all the incessant nagging and negative PR and so forth. But obviously it didn\u2019t need to be $20 billion large if only $3.8 billion of it has been used. So maybe, folks, the disaster wasn\u2019t that bad. So what is the likelihood BP ends up giving Obama another slush fund? Another crisis not going to waste. So here\u2019s $16 billion in one program not used. There\u2019s TARP money that hasn\u2019t been spent. In arriving at the budget deal that netted cuts of $352 million, they went and got money from previous budgets that had not been spent. There\u2019s all kind of allocation, there are all kinds of authorizations, but the money hasn\u2019t been spent. <\/p>\n

So you could pay the interest on the debt, you could pay 10% of the revenues and let the other spending go to hell. Snerdley, at what point are we going to put into action our theory that the spending has to stop? (interruption) Yeah, but if there\u2019s no limitation on it, we\u2019re at $14 trillion now, $14.3 trillion, so we got a new budget, it\u2019s a one year document that has a ten-year outlook, but at some point we\u2019re gonna have to get serious here and realize that lifting the debt limit is an invitation to spending that amount of money. They\u2019re throwing around this word “default,” and we\u2019re not going to default. Let me take that back. There\u2019s something else I want to say before that. Even if in the practically impossible event that we would default, that would take six to eight months. It\u2019s not something that\u2019s gonna happen Monday or the day after the debt ceiling is not raised. There is revenue still pouring in at the rate of $2 trillion a year. We can\u2019t go into default. The United States is still collecting $2 trillion a year. Going into default is impossible. It\u2019s a scare tactic. <\/p>\n

Now, the White House is scared to death over what Standard & Poor\u2019s did because that puts a crimp in the PR, in the spinning that they want to accompany all of their new spending. Now, look at Obama as an illustration. Obama keeps talking about wanting to go back to the Clinton tax rates. Follow me on this, now. Obama keeps talking about go back to the highest Clinton tax rates. Okay. Let\u2019s go back to the Clinton spending levels, then. Let\u2019s go back to the Clinton deficits back then. How about we go back to the health care of Clinton. How about we go back to the number of federal employees we had during Clinton. Was this country in trouble in the nineties? Everybody tells me that the nineties were a huge boom. All the Democrats tell me it never was bigger fat city in this country than those eight years of Clinton. Well, let\u2019s go right back to \u2019em, not only his tax rates but his level of spending, his annual deficits, the national debt, whatever the health care spending was, let\u2019s go back. How about the number of federal employees, how about the number of departments in the federal government so-called bureaucracies, number regulations. <\/p>\n

He keeps talking about wanting to go back. He also claims he wants to go forward. Let\u2019s go back to Clinton. Let\u2019s just not stop at tax rates, though. You remember this, folks. How many Democrats and how many spokesmen did they send out on the cable shows? I\u2019m thinking guys like Bob Shrum and Robert B. Reichhhh, all these clowns, they kept telling us how wonderful the nineties were. Well, let\u2019s go back to that spending level. I\u2019ll tell you what, let\u2019s go back to what spending was, take the average, \u201996, that\u2019s halfway, we\u2019ll go back to whatever we were spending in \u201996, take the same health care policy in \u201996, same number of bureaucracies and then account for inflation only to get us to 2011 and let\u2019s live on that. The idea that we cannot get by without raising the debt ceiling is another one of these scare tactics that\u2019s designed to get everybody who knows better to capitulate to crisis. Just like it was with TARP. There\u2019s money coming in to service the debt. There may not be much money coming in to service all the new programs the Bamster wants, fine and dandy. We don\u2019t pay for \u2019em. At some point we gotta get serious. You and I, I mean. If we\u2019re talking about, if our party, if our budget makers keep talking about reducing the deficit, stopping the spending, at some point we got to. Kick the can down the road every time you raise the deficit ceiling, debt limit, whatever it is.<\/p>\n

END TRANSCRIPT<\/p>\n

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RUSH: Adam in Anderson, Indiana, as we go back to the phones. Hello, sir. I\u2019m glad you called. CALLER: Hey, Rush. Fellow conservative and Rush Baby dittos from Indiana. RUSH: Thank you, sir. CALLER: I couldn\u2019t disagree with your last caller any more. I mean when I look at Trump, I look at this guy, […]<\/p>\n","protected":false},"author":25,"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":"\nDefault Talk is a Scare Tactic - 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\/2011\/04\/19\/default_talk_is_a_scare_tactic\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Default Talk is a Scare Tactic - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Adam in Anderson, Indiana, as we go back to the phones. Hello, sir. I\u2019m glad you called. CALLER: Hey, Rush. 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