{"id":29838,"date":"2008-07-14T01:01:01","date_gmt":"2011-05-19T03:35:31","guid":{"rendered":""},"modified":"2011-05-19T03:35:31","modified_gmt":"2011-05-19T03:35:31","slug":"bailouts_wants_and_needs","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2008\/07\/14\/bailouts_wants_and_needs\/","title":{"rendered":"Bailouts, Wants and Needs"},"content":{"rendered":"
\n

RUSH: All right, back to Steve in Richmond, Virginia. Thank you, sir, for continuing to hold on. You have an eight-year-old son. You\u2019re worried about the future with all these bailouts.<\/p>\n

CALLER: I\u2019m worried about his freedoms, too, not just that. It comes down to Big Oil, right? Government is attacking Big Oil. What about us attacking government for a big bailout, and the bailout being just another vehicle to encroach upon our freedoms? I mean, that\u2019s the endgame: punish and control society. Wouldn\u2019t you think?<\/p>\n

RUSH: This troubles me greatly. As I say, I spent a large part of the first hour discussing this. All of these bailouts, it\u2019s getting to the point now that there isn\u2019t any risk, that whoever takes a risk doesn\u2019t really view it as such because it\u2019s going to be bailed out. The bottom line: Fannie Mae and Freddie Mac are classic to me. Fannie Mae and Freddie Mac, they exist in an impossible universe. They are government-owned private businesses. They pay no taxes; the SEC can\u2019t look at them. They are immune from any regulatory structure, examination. They have, theoretically, a limitless supply of money — and they\u2019re going broke! What in the government isn\u2019t going broke? And what was the purpose of Freddie Mac and Fannie Mae? Why do we need two? Why wasn\u2019t Fannie Mae good enough? Why, then, did we need Freddie Mac? Was it because of political correctness and gender equity? Why did we need two of these? Why did we ever need more than the FHA? <\/p>\n

The FHA used to make no-down-payment loans or low-interest loans to people that couldn\u2019t afford a 20% down payment. They still do. Okay, so the VA and the FHA, then we got Freddie Mac and Fannie Mae. Freddie Mac and Fannie Mae, how in the world can you have a government-owned private business? But that\u2019s the best way to explain it — and they\u2019re in deep doo-doo. So we gotta bail \u2019em out. Too many people have borrowed money to buy their houses from the government. This is not by accident. The people who set these agencies up… We\u2019ve been trying to tell people for years and years and years the whole purpose of a lot of people in government is to get as many people dependent on it as possible. That\u2019s why the whole notion of self-reliance, people sneer when you discuss it. ‘Oh, yeah! Easy for you to say! Why, you walk a mile in my shoes and find out about self-esteem reliance.\u2019 A lot of people have.<\/p>\n

When you become, when you become dependent on the government, not just for your needs — that\u2019s bad enough, but when you start depending on the government for your wants, folks! And when the government\u2019s always there, even when you botch it, even when you make a lousy decision with government money, they\u2019re going to bail you out. That\u2019s what this is. They can\u2019t afford to let this go south. (No offense, Alabama, Mississippi, Georgia, Tennessee.) They can\u2019t allow this to happen. So as I\u2019ve been brilliantly pointing out all day, these renegade conservatives who want a big, active government interested in people\u2019s lives ought to be celebrating today \u2019cause we\u2019ve got it. And the problem is the people that do not end up investing in government or taking government money or having the government support them, are going to end up paying for it for everybody else. So it encircles and entwines virtually everyone.<\/p>\n

Kevin in Bozeman, Montana, it\u2019s great to have you with us on the EIB Network, sir. Hello.<\/p>\n

CALLER: Hey, Rush, Mega Big Sky dittos.<\/p>\n

RUSH: Thanks very much, sir.<\/p>\n

CALLER: It\u2019s an absolute pleasure to talk to you. Hey, I wanted to touch on something and give a comment on something you said earlier about an AP article where they\u2019re valuing human life and they put it at, what, six and a half million or something like that?<\/p>\n

RUSH: $6.9 million. The government has now valued each American life as $6.9 million, down a million from two years ago. <\/p>\n

CALLER: Well, what do you think of this? I think they\u2019re starting to put that out to tie it to the socialized medicine that we\u2019re probably going to be getting down the road.<\/p>\n

RUSH: Oh, yeah! That\u2019s exactly it. That\u2019s how you can compute the value of medical treatment. It\u2019s the whole reason the EPA is doing it —<\/p>\n

CALLER: Right.<\/p>\n

RUSH: — so you can compute the value of benefits and the amount of benefits and how they can shortchange people on it: ‘Well, your life is not worth as much as it used to be. You don\u2019t need as many benefits.\u2019 Of course. Absolutely right.<\/p>\n

CALLER: And then they\u2019ll start breaking it down to the first 25 years, the second 25 years, the third 25 years, and the fourth, and then what they\u2019ll say is, ‘Well, by the fourth 25 years, if you\u2019re 80, your life is really only worth a hundred thousand dollars —<\/p>\n

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

CALLER: — and if you need a procedure that\u2019s $250,000, well, you\u2019re outta luck.<\/p>\n

RUSH: Right. Yeah. Because you\u2019ve long since outlived your value and usefulness to your government, and now that you need surgery here that will sustain your life another two years, we have decided we don\u2019t need you another two years. You\u2019ve already been useful. We\u2019ve used you up. So we\u2019re not going to pay for you. You\u2019re dead.<\/p>\n

CALLER: Yeah, and they\u2019re introducing it to us slowly the way they do. <\/p>\n

RUSH: Yep.<\/p>\n

CALLER: They incrementally give us the stuff; we digest it, and people go, ‘You\u2019re crazy. That\u2019s not what they\u2019re doing,\u2019 but they slowly dribs and drabs, give it to us.<\/p>\n

RUSH: Right.<\/p>\n

CALLER: Then it\u2019s like, ‘Oh, okay. An 80-year-old is only worth a hundred thousand dollars, apparently.\u2019<\/p>\n

RUSH: A lot of people listen to this out there, Kevin, think that we\u2019re taking this a little far, that we are exaggerating, that our government would never say to a seasoned citizen, ‘You need a $200,000 procedure but our charts only show you\u2019re worth a hundred grand to us. Sorry.\u2019 It could happen. Folks, if we are broke now, if we are having to bail out mortgage lenders… We haven\u2019t even gotten to health care yet! We haven\u2019t even gotten to national health care. Can you imagine single-payer, socialized medicine? Can you imagine getting to that on top of this? And you think you\u2019re going to get decent care just because you don\u2019t have to pay for it? You are going to be paying for it, in more ways than one, but can you imagine piling another entitlement or anything on top of the mess that we have now? What are we going to call the new national health care program, Health Mac? We got Fannie Mae, Freddie Mac, and Health Mac? What are we going to call these things? We haven\u2019t even gotten there yet. <\/p>\n

Seriously, Fannie Mae and Freddie Mac, they don\u2019t even promise to give everybody a house. They just commit to make it available to some people who otherwise couldn\u2019t get a loan, but, you know, national health care, single-payer is going to guarantee everybody health care and… (interruption) We can\u2019t even afford…? We can\u2019t…? Mmm-hmm. No, I didn\u2019t see that. Snerdley is telling me something. That\u2019s the reason why there was some dead air. Dead air never hurt anybody, folks, so don\u2019t worry about it. Snerdley was telling me a story. Some woman fell over in a hospital in New York City. People just kept walking by for 40 minutes. It was a city hospital, and people kept walking by her. Kind of like that video out of Connecticut where the guy gets hit by the car, and everybody just watches him unconscious in the middle of the street. Or how about that woman got caught in the elevator for three hours and died? Nurses, doctors, 40 minutes, just walking around the woman in a New York Hospital. No, I missed that video. I did not see it. <\/p>\n

Let\u2019s see. Hemet, California. Vern, thank you, sir, for calling. You\u2019re up next on the Rush Limbaugh program. Hi.<\/p>\n

CALLER: Oh, Rush Limbaugh, Rush Limbaugh! God bless you, Rush Limbaugh.<\/p>\n

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

CALLER: You changed my life, sir.<\/p>\n

RUSH: I appreciate that.<\/p>\n

CALLER: And you\u2019ve also made me laugh a lot, and I just wanted, in that vein, you were talking about the bailouts this morning, and there\u2019s a number of institutions that failed. You know, if we\u2019re going to bail out Freddie Mac and Fannie Mae, why don\u2019t we bail out liberal talk radio? <\/p>\n

RUSH: Hey, hey, wait, wait. They\u2019ve been trying!<\/p>\n

CALLER: (laughing)<\/p>\n

RUSH: Do you know how many idiot investors have infused money into that bottomless pit over the years? And every time they do it, the Drive-By Media salivates (panting), and they report every new investment. That\u2019s been tried, two or three times.<\/p>\n

CALLER: I got another one. How about organized crime? They took a big hit in the eighties and nineties from investigations and prosecutions. Why don\u2019t we help them? There\u2019s another American institution.<\/p>\n

RUSH: (laughter)<\/p>\n

CALLER: And then while we\u2019re at it, how about us? How about me? You just talked about how my own personal stock dropped a million in just one year. How about me?<\/p>\n

RUSH: Well, you\u2019ve lost some significant equity in the stock market?<\/p>\n

CALLER: No, no. I lost my own personal value. You said the value of a life dropped one million from $7.9 to $6.9.<\/p>\n

RUSH: Oh, oh, bail you out! Make up the difference since it\u2019s the government claiming your value has shrunk. (laughing)<\/p>\n

CALLER: (laughing) Anyways, that was my contribution to today — and, you know, I\u2019m a trucker here in LA. I\u2019ve got one thing that I write on the back of my trailer.<\/p>\n

RUSH: Yeah?<\/p>\n

CALLER: Instead of ‘save the planet,\u2019 I\u2019ve got ‘use the planet.\u2019 So I want to pass that on.<\/p>\n

RUSH: Good for you! Why, that\u2019s what the hell it\u2019s for, here!<\/p>\n

CALLER: That\u2019s right. It\u2019s our birthright.<\/p>\n

RUSH: All right, good buddy.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Kathy in Williamsville, New York, great to have you.<\/p>\n

CALLER: Hi, Rush. How you doing? It\u2019s going to be hard to make a serious point after that soccer commercial. That\u2019s very funny.<\/p>\n

RUSH: Thank you very much.<\/p>\n

CALLER: You know, we have ended up with a society where all the people that work in government, all the politicians, the teachers, the firemen, the policemen, all of our state governments, municipalities, and we are in a very heavily governed area here in western New York, all of them are living inside the castle walls, and all of us, everybody else is living outside of the castle walls. And all of the rules they make protect them, where our people, the public employee, they can retire at 55 here and they live to 85.<\/line> <\/line> RUSH: Yeah, but you know, even that — I know what you\u2019re saying, and conceptually, theoretically, you\u2019re right on the money. What was it, Vallejo, California, I had the story about a month ago, they can\u2019t pay their pension promises to the cops and some of the other city employees, and they\u2019re off-loading the program, and these politicians made these promises to these city employees, and that\u2019s what got them elected and reelected, and they can\u2019t afford it. I\u2019m telling you, they can make all these promises, but paying people money when they\u2019re no longer working, when they\u2019re no longer productive — and of course that\u2019s an arguable concept with a government employee anyway, it isn\u2019t going to be there.<\/line> <\/line> CALLER: Well, New York is slated to go bankrupt first, and we are a state that\u2019s shrunk in population and grew in government workers, again. And I don\u2019t understand why they don\u2019t get that this model is not gonna work.<\/line> <\/line> RUSH: Well, there\u2019s a simple human nature answer for that, and that is until it happens to them, it\u2019s not happening.<\/line> <\/line> CALLER: Well, they\u2019re just saying, ‘Well it\u2019s not going to happen in my lifetime, so it doesn\u2019t matter.\u2019 That\u2019s what it is. <\/line> <\/line> RUSH: That\u2019s true, too, because the things that this generation, couple of generations before us have caused, they\u2019re trying to insulate themselves from dealing with.<\/line> <\/line> CALLER: Well, I\u2019ll tell you, I know the car companies, we have GM and Ford here, and my dad used to sell to them, and I said, ‘What were they thinking?\u2019 He said, ‘They were thinking that by the time that it all crumbles, I\u2019ll be retired,\u2019 and that\u2019s it. These people that are in office right now —<\/line> <\/line> RUSH: I know, I know. <\/line> <\/line> CALLER: — in our state capital, just don\u2019t think it\u2019s going to happen in their lifetime, so who cares.<\/line> <\/line> RUSH: I know. A lot of people outside government think that, too. They really do. Look, that\u2019s great, Kathy, I appreciate the call.<\/line><\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: All right, back to Steve in Richmond, Virginia. Thank you, sir, for continuing to hold on. You have an eight-year-old son. You\u2019re worried about the future with all these bailouts. CALLER: I\u2019m worried about his freedoms, too, not just that. It comes down to Big Oil, right? Government is attacking Big Oil. 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