{"id":28684,"date":"2008-03-14T01:01:01","date_gmt":"2011-05-19T04:10:03","guid":{"rendered":""},"modified":"2011-05-19T04:10:03","modified_gmt":"2011-05-19T04:10:03","slug":"bush_s_great_economic_speech","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2008\/03\/14\/bush_s_great_economic_speech\/","title":{"rendered":"Bush\u2019s Great Economic Speech"},"content":{"rendered":"
\n

RUSH: President Bush just finished a speech, and he just finished the Q&amp;A right at 12 noon Eastern, just in time to make way for this program. He spoke to the Economic Club of New York on the economy. It was a great speech. It was a home run. I have one excerpt from it to just share with you, sort of an overall example of the president\u2019s tone and remarks today. In these seesaw economic times, it\u2019s really nice to have a president who\u2019s dumb enough to understand the real world up against all of these smartest people in the room, the really, really smart crowd that don\u2019t understand the real world. He said something that I guess I had missed in watching the news this week, but he said, you know, all these foreclosed homes out there. He says, ‘Somebody in Congress has proposed a bill for state and local governments to buy up those houses that are sitting empty.\u2019 He said, ‘I can\u2019t think of anything stupider. Those are golden opportunities for first-time home buyers. Get the government involved in all of this, and it\u2019s only going to make a problem. One of the problems, if you\u2019re driving around and you got bad road conditions and you start spinning out, the biggest mistake you make is starting to overcorrect, and when you overcorrect, you end up in the ditch.\u2019 <\/p>\n

Now, I\u2019m sure most of the people in the audience haven\u2019t driven a car in, I don\u2019t know how many years and probably have never ended up in a ditch, but average Americans — and you average Americans know who you are, watching this — it was an excellent point. Don\u2019t overcorrect. The market is correcting itself. Don\u2019t become protectionist; don\u2019t block trade agreement; the trade agreement that\u2019s in Congress with Colombia. Here\u2019s a little bit, just to get the flavor of the president\u2019s attitude and tone today.<\/p>\n

THE PRESIDENT: In a free market, there\u2019s going to be good times and bad times. That\u2019s how markets work. There will be ups and downs. And after 52 consecutive months of job growth, which is a record, our economy obviously is going through a tough time. I want to remind you, this is not the first time since I\u2019ve been the president that we\u2019ve faced economic challenges. We inherited a recession, and then there were the attacks of September the 11th, 2001, which many of you saw firsthand, and I made the difficult decisions to confront the terrorists and extremists on two major fronts: Afghanistan and Iraq. And then we had devastating natural disasters. And the interesting thing, every time this economy has bounced back better and stronger than before. So I\u2019m coming to you as an optimistic fellow.<\/p>\n

RUSH: He went on from there, and he got mild applause at various points in the speech. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: The president was asked about prices at his press conference. I don\u2019t have that transcript in front of me, but I think what those two bites are. The price of gasoline, the price of food. Prices, prices, prices. Damn well I know what the price of food is. Do you think I don\u2019t eat? Of course I know what the price of food is! Do you know what the price of jet fuel is? Okay! Don\u2019t give me $4.85 a gallon stuff. If you can find a contract buy, you can maybe do better than… (sigh) Don\u2019t even get me started. Nobody listens to my complaining, anyway. Look, we have these two sound bites of the president from the Economic Club of New York today, when he gave a speech. Here\u2019s the first of two.<\/p>\n

THE PRESIDENT: One bill in Congress would provide $4 billion for state and local governments to buy up abandoned and foreclosed homes. You know, I guess this sounds like a good idea to some, but if your goal is to help Americans keep their homes, it doesn\u2019t make any sense to spend billions of dollars buying up homes that are already empty. As a matter of fact, when you buy up empty homes you\u2019re only helping the lenders, or the speculators. The purpose of government ought to be to help the individuals, not those who speculated in homes. This bill sends the wrong signal to the market.<\/p>\n

RUSH: That is exactly right. Do you know how many of these foreclosures happened to guys that never lived in these houses they were buying? They were buying them to flip \u2019em, and they got caught, and it went south, and they start (crying), ‘Oh, we need a bailout!\u2019 Bear Stearns needs a bailout? Let Bear Stearns go under! Well, no, I guess you can\u2019t do that, but, for crying out loud, did you hear what the president said? The American people make the economy work. Don\u2019t put more obstacles in their way. Don\u2019t put more shackles on them. The American people… If you start thinking that the economy is nothing but the Dow Jones Industrial Average and you gotta stop the bleeding there… Yeah, it affects more and more Americans than it ever has, but still there\u2019s a lot more to the economy than that. Here\u2019s the second excerpt from the president\u2019s speech today.<\/p>\n

THE PRESIDENT: [A] lot of folks are worried about their neighbors losing work. … [S]ometimes, if you\u2019re going to lead this country, you have to stand in the face of what appears to be a political headwind. … I\u2019m troubled by isolationism and protectionism. … [W]hat concerns me is, is that the United States of America will become fatigued when it comes to fighting off tyrants, or say it\u2019s too hard to spread liberty, or use the excuse that just because freedom hadn\u2019t flourished in parts of the world, therefore it\u2019s not worth trying, and that, as a result, we kind of retrench and lose confidence in our — the values that have made us a great nation in the first place. But these aren\u2019t American values; they\u2019re universal values. And the danger of getting tired during this world [sic] is any retreat by the America — by America was going to be to the benefit of those who want to do us harm. Now, I understand that since September the 11th, the great tendency is to say, we\u2019re no longer in danger. Well, that\u2019s false. That\u2019s false hope. It\u2019s either disingenuous or naive, and either one of those attitudes is unrealistic. And the biggest job we\u2019ve got is to protect the American people from harm. I don\u2019t want to get in another issue, but that\u2019s why we better figure out what the enemy is saying on their telephones, if you want to protect you.<\/p>\n

RUSH: Now, the question actually had to do with immigration, and whoever asked the question said, ‘Mr. President, it\u2019s been said that a nation that is afraid of immigration has lost its confidence. What did you think about it?\u2019 That\u2019s where he delved off into the answer that he gave. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: President Bush just finished a speech, and he just finished the Q&amp;A right at 12 noon Eastern, just in time to make way for this program. He spoke to the Economic Club of New York on the economy. It was a great speech. It was a home run. 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