{"id":19134,"date":"2011-07-20T00:18:23","date_gmt":"2011-07-20T00:18:23","guid":{"rendered":""},"modified":"2011-07-20T00:18:23","modified_gmt":"2011-07-20T00:18:23","slug":"our_president_is_winning_his_war_against_america_s_private_sector","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/07\/20\/our_president_is_winning_his_war_against_america_s_private_sector\/","title":{"rendered":"Our President is Winning His War Against America\u2019s Private Sector"},"content":{"rendered":"
\n

RUSH: We have the unemployment news that we are now at 9.1% unemployment. We have next to no growth. We have massive unemployment. We\u2019re in the midst of a housing disaster, oppressive regulations. All of this and the regime is demanding massive tax increases. We face a threat of reduction in the nation\u2019s credit rating. We have systemic, historic deficits and still today you can read certain stories or go to certain networks and hear them talk about the recovery! There is no recovery. If this isn\u2019t a depression, then what is? And the sad thing is, what\u2019s even worse, Obama\u2019s entire motivation is to destroy what\u2019s left. <\/p>\n

Now, for two and a half years we\u2019ve been sitting here and we\u2019ve been warning people who Obama is, what he is, what his policies are, what his objectives are, and it may be time to change tack, change the approach a little bit. I think we\u2019ve gotten to the point we\u2019re preaching to the choir. Everybody knows that is a quagmire. Everybody knows it\u2019s either a depression or a recession. They don\u2019t need the proof every day; they live it. The question is, what do we do to get through the next 18 months and preserve what\u2019s left so that there can then be a genuine recovery? Fifty-four thousand jobs and they\u2019re still reporting that it was unexpected. They expected twice that many jobs. Based on what? Fifty-four thousand jobs created, unemployment up to 9.1%, hundreds of thousands of Americans have dropped out of the job market altogether. The housing market is drowning. <\/p>\n

Folks, I have a story that as an American, as a human being with a large, beating heart — ba-boom, ba-boom — this story is heartbreaking. It\u2019s in the Wall Street Journal and all you need is the lead, the first sentence. You don\u2019t even need to read the whole story. It\u2019s about the housing market. We\u2019re talking about our country. “Home prices have sunk to 2002 levels, effectively wiping out almost a decade\u2019s worth of home equity across the U.S. and imperiling the fragile economic recovery as Americans confront the falling value of their biggest investment.” Forget fragile recovery. There is no fragile recovery. How anybody can write that with a straight face or an honest cell in their body is beyond me. But here you have what Americans all over the country who were playing by rules, rules the country had promised them, assured them, a lot of people, the American dream and so forth. <\/p>\n

Now, I know market fluctuations are what they are, don\u2019t misunderstand here, but this is just heartbreaking and so unnecessary. Home prices, 2002 levels effectively wiping out ten years\u2019 worth of home equity, wiping out the value of many Americans\u2019 biggest investment. It\u2019s just unbelievable. I can\u2019t really put this into words. I see a story like this, I see people, genuine human beings. This is not abstract to me. It\u2019s written statistically, but this is real, these are real lives, real circumstances that are being affected here. There is no private sector growth. Obama says this is a recovery. Let\u2019s take him at his word. That for him, this is what a recovery looks like. Let\u2019s just take him at his word, just for the fun of it. This is what a recovery looks like. <\/p>\n

I saw Ichabod Crane on TV this morning, Austan Goolsbee. Most people have a 14-inch part in their hair. This guy\u2019s neck is 14 inches long and probably about four inches around. I don\u2019t know where he goes to buy shirts. Austan Goolsbee, yeah, said to be the funniest man in… well, there\u2019s this guy, this journalist that used to be at TIME Magazine, Matt somebody that used to be the funniest guy. At any rate, Obama looks out across the fruited plain and he sees a recovery. This is what a recovery looks like. He is at war with the private sector and he\u2019s winning, folks. The president of the United States is winning his war against the private sector. He is destroying it. That is his mission. His administration is succeeding. So for Obama this is a recovery. Let\u2019s go to the audio sound bites. February 10th, 2007. Springfield, Illinois. This runs by real quick, five, six seconds. This is Obama explaining to the country his view, his vision for revitalizing America.<\/p>\n

OBAMA: Let\u2019s allow our unions and their organizers to lift up this country\u2019s middle class again. We can do that.<\/p>\n

RUSH: Unions, organizers, let them lift up the middle class. The private sector middle class is his target. The public sector middle class are his beneficiaries. Now, I submit, folks, everybody knows, and I mean everyone, the way you get out of a recession, the way you get out of the economic mess that we are in is to create incentives for private sector growth. You do that by lowering taxes, by reducing regulations. We had a call yesterday, Snerdley put a call up there from a guy, and I wanted to walk him through this. He asked, “Well, what would you do?” I\u2019ve always found it can have much more impact to actually walk people through it, but he was sadly mentally incapable of walking through it on his own so it didn\u2019t work out. So I gotta explain it here myself. <\/p>\n

You create incentives for private sector growth by lowering taxes, by reducing regulations, getting obstacles out of people\u2019s way, you strengthen the dollar, you reduce the size of government. But, you see, if you\u2019re a committed socialist and an authoritarian, you\u2019re simply not gonna do these things. You are not going to take the obvious and necessary steps to create prosperity because what I just described to you as the definition of an economic recovery is not how Obama sees recovery. What\u2019s happening is how he sees recovery, taking him at his word. In fact, if you\u2019re like Obama, if you are a socialist, authoritarian, you\u2019re gonna do the exact opposite of lower taxes, reduce regulations, strengthen the dollar, reduce government, you\u2019re gonna do the exact opposite. You\u2019re going to insist that the problems require more government. You are going to insist the problems require more regulations, higher taxes. You are going to continue to attack success and profits and businesses. <\/p>\n

Alan Greenspan, the puppet of Andrea Mitchell, NBC News, Washington, came out today and joined the chorus for raising the debt limit. I see how this is gonna go now. Republicans are going to be blamed for this recession. Republicans are going to be blamed for a lack of recovery. Republicans are going to be blamed because they are going to stand in the way of more spending to fix this. It\u2019s exactly as I warned you a couple of weeks ago. This economy was in much worse shape than Obama even knew. Their policies are working. We are in a recovery. You hear them say so. But it\u2019s going to take much longer than we thought, and we do not dare change horses in the middle of the stream. We simply don\u2019t turn over the reins to the people who drove us into this ditch in the first place. We don\u2019t turn over the reins to people who will not agree to more spending and the solvency of our country, blah, blah, blah. That\u2019s exactly what\u2019s coming here, folks. Just get ready for it. More government, more regulation, higher taxes, continue to attack success and profits and businesses. <\/p>\n

I\u2019m taking him at his word. He says we\u2019re in a recovery. This, to him, is a recovery. He wants more of it, he says. So he\u2019s going to keep saying the same things. He\u2019s going to give never-ending life to the bogeymen he\u2019s already created, the rich, the millionaires, the billionaires, while leading a war against the middle class. The middle class, that\u2019s whose home values are plummeting. The middle class, that\u2019s who doesn\u2019t have any jobs. The middle class, that\u2019s whose savings are evaporating. That\u2019s the target. Obama attacks the millionaires and billionaires, they remain millionaires and billionaires. The middle class is losing it all in the private sector. The public sector middle class are making out like bandits. Just look at what Obama is doing and what he will continue to do and just listen to what he says and will continue to say. While this economy is causing great suffering and while Obama will pretend he actually cares about you, he will continue full speed ahead with his war on the private sector, his war on the middle class, and his promotion of socialism and authoritarianism. This is what Obama wants. This is his recovery. We take him at his word. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: According to Mark Hemingway at a blog, the Weekly Standard: “Half of Last Month\u2019s New Jobs Came from…McDonald\u2019s — According to the unemployment data released this morning, the economy added only 54,000 jobs, pushing the unemployment rate up to 9.1 percent.” By the way, speaking of which I guess I ought to share with you the way the AP is reporting this. Here\u2019s their headline (excitedly) “Employers Add 54,000 Jobs, Rate Ticks up to 9.1 Pct.” The AP\u2019s reporting this as though jobs are being created here. Wow! The casual reader will think that the number of employed has gone up, when it hasn\u2019t — the number of employed has gone down — and they did the same exact thing last month. <\/p>\n

“Employers hired only 54,000 new workers in May, the fewest in eight months. The employment rate rose to 9.1%. The Labor Department report offered startling evidence the US economy is slowing.” What is “startling” about any of this? I\u2019m getting blue in the face asking this question: What recovery? So, anyway, 54,000 jobs. Here\u2019s a report from MarketWatch. As you remember, “McDonald&rsquo;s ran a big hiring day on April 19 — after the Labor Department&rsquo;s April survey for the payrolls report was conducted — in which 62,000 jobs” were created at Mickey D\u2019s. “That&rsquo;s not a net number, of course,” because they added some jobs and people quit. <\/p>\n

There\u2019s always fluctuation, there\u2019s seasonal adjustment, and so the number is fluid. So Morgan Stanley is estimating that McDonald\u2019s hiring the 62,000 jobs nets out to an increase of actually 25 to 30,000 jobs, by the time you tabulate people quit and retired, what have you. The Labor Department will not detail an exact McDonald\u2019s figure. (They won\u2019t identify any company in the survey; it\u2019s not they\u2019re avoiding it, just they don\u2019t do it.) But here\u2019s the point: If Morgan Stanley\u2019s right, we got 54,000 jobs created, and McDonald\u2019s may account for 25 to 30,000 of them, that would be over half of them, and we remember.<\/p>\n

We remember what the left said about McDonald\u2019s jobs. “They\u2019re worthless! No health care! They\u2019re hamburger-flipper jobs. No future, can\u2019t feed a family of four on one of those jobs!” They were always deriding those jobs, putting them down.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Eric in Wilmington, Delaware. Thank you for waiting, sir. Appreciate your patience. Hi.<\/p>\n

CALLER: Thank you for taking my call. I\u2019m a 1995 Mac user back in the bad days. (chucklds)<\/p>\n

RUSH: Yep.<\/p>\n

CALLER: But I\u2019m still… Mac\u2019s a great machine. But, anyway, another thing: A president pick is J. C. Watts, but I\u2019ll get to my point now. I was calling about a lady name Brooksley Born, she was the Commodity Futures Trading Commission person during the Clinton administration, and she warned against the derivatives.<\/p>\n

RUSH: Oh, yeah.<\/p>\n

CALLER: And she was shut down by Greenspan, Summers, and Rubin so they couldn\u2019t regulate \u2019em which caused the financial — helped cause the financial — crisis that we have now. And these same people today are telling us things are getting better. It\u2019s nothing but crony capitalism.<\/p>\n

RUSH: Yeah. Well, there are, as is the case in every economic cycle, good and bad. There are people who do well while others aren\u2019t and vice-versa, but you\u2019re right: A lot of corporate entities that are doing well are doing well because of crony capitalism. They\u2019re in bed with Obama. He\u2019s helping them out. They\u2019re getting health care waivers or what have you, any number of things to help shield them from other market forces and so forth. But the entire financial services industry you could say, at one time or another in the past three to four years, has been part of this crony capitalism. What is QE3? What is QE2? What is Quantitative Easing? <\/p>\n

It\u2019s just the printing of money funneled in such a way that a lot of it was used to buy stock, ergo the stock market looks healthy, stays good; people that are invested in it back out like bandits. QE2, the printing of money, either has expired or is about to soon. You saw Wall Street on Tuesday: A 240-point drop and abject panic set in, and they started calling for a new round of Quantitative Easing. This is artificially being propped up, and if you\u2019re in the market that\u2019s good for you. You\u2019ll take it. That\u2019s how crony capitalism works. That\u2019s how you get people to throw away their ideological beliefs. It\u2019s how you get people to throw away their principles. You promise to take care of \u2019em financially, corporately take care of them financially and you own \u2019em. <\/p>\n

That\u2019s how Obama got a lot of his health care bill passed. The insurance companies involved in it and some of the medical associations and so forth. Derivatives, same thing. It\u2019s the kind of stuff when people learn about it that they throw their hands up and say, “I can\u2019t stop any of this. You know, this is the kind of stuff, Rush, you can say, ‘Liberalism, conservatism, principles,\u2019 none of that matters in this stuff. When you have a president who\u2019s gonna allow certain people literally reach into the federal Treasury and grab whatever they want from it, then, you know, don\u2019t tell me about big government, Tea Parties and all that. It doesn\u2019t matter, \u2019cause it\u2019s still money that everybody wants and everybody focused on, especially those that tell you that it isn\u2019t the money.”<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Here\u2019s James in Harrisburg, Pennsylvania. Welcome to the EIB Network. Hello.<\/p>\n

CALLER: Hello. Thank you for taking my call, Rush. I\u2019m a lifelong listener, and I\u2019d just like to say that before Obama\u2019s election I got a phone call about a possible job opportunity and then they said, “We have to see who wins the election,” and then Obama won and they said the wrong person won. (cell garbled) They\u2019re not hiring now, and I\u2019m one of those chronically unemployed persons who weren\u2019t counted in the current unemployment numbers, but I\u2019m making progress. There are no stimulus jobs. I can tell you that factually.<\/p>\n

RUSH: No, not unless you\u2019re in a union, not unless you\u2019re in a public sector union — and there never were gonna be any private sector jobs with the stimulus. Let me ask you a question, James, because you\u2019re on a cell phone and I have a devil of a time comprehending what people say on a cell phone. Did you say that you get a phone call about a possible job opportunity and they said that the opportunity won\u2019t really exist until after they see who wins the election?<\/p>\n

CALLER: Yes, that\u2019s correct.<\/p>\n

RUSH: That\u2019s a year and a half away, James.<\/p>\n

CALLER: No, that was 2008 election.<\/p>\n

RUSH: Oh, 2008. Oh. Okay.<\/p>\n

CALLER: Yes.<\/p>\n

RUSH: Well, that\u2019s still the case. It\u2019s still the case. People are not hiring.<\/p>\n

END TRANSCRIPT<\/p>\n

*Note: Links to content outside RushLimbaugh.com usually become inactive over time.<\/p>\n","protected":false},"excerpt":{"rendered":"

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