{"id":30973,"date":"2011-05-19T03:05:19","date_gmt":"2011-05-19T03:05:19","guid":{"rendered":""},"modified":"2011-05-19T03:05:19","modified_gmt":"2011-05-19T03:05:19","slug":"obama_advisors_plan_to_startle_the_economy_into_submission","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/obama_advisors_plan_to_startle_the_economy_into_submission\/","title":{"rendered":"Obama Advisors Plan to “Startle” the Economy “into Submission”"},"content":{"rendered":"
\n

RUSH: Austan Goolsbee was the economic advisor for Barack Obama during the campaign. He was on Slay <\/emphasize>the Nation with Bob Schieffer and we\u2019ve got two bites of this. Bob Schieffer said, ‘Obama\u2019s talking about tax cuts, building roads and bridges. Some people are saying that it may have to be something in the neighborhood. Schumer this morning said it may be the neighborhood of five, six, $700 billion. Is that the sort of thing, the scope that we\u2019re talking here?\u2019<\/p>\n

GOOLSBEE: This is as big of an economic crisis that we\u2019ve faced in 75 years and we gotta do something that\u2019s up to the task of confronting that. I don\u2019t know what the exact number is, but it\u2019s going to be a big number. It has to be. The point is to kind of get people back on track and startle the thing into submission. <\/p>\n

RUSH: Stop the tape here. Stop the tape. Now, did you hear what Austan Goolsbee just said? ‘I don\u2019t know what the exact number is, but it\u2019s going to be a big number. The point is to kind of get people back on track and startle the thing into submission.\u2019 Do these people think they can startle the United States economy into submission? I\u2019m trying hard not to attach specific meaning to this \u2019cause if I do, I\u2019m going to be really scared \u2019cause this is stupid! To look at the economy as something that has to be tamed, to look at the economy that has to be ‘startled into submission,\u2019 as though the problem here is the economy\u2019s running wild and we can\u2019t control it, and we need a stimulus package that\u2019s going to startle the economy into submission? We have to make the economy give up? Please tell me that they don\u2019t look at it this way. (laughing) I fear that they do. We have to startle the economy into submission. They really think that they can do that, that that perspective is even valid. Here\u2019s the rest of what he had to say.<\/p>\n

GOOLSBEE: This era of dithering is gonna end. Starting January 20, Obama\u2019s coming in. We\u2019re out with the dithering. We\u2019re in with a bang! That\u2019s what it\u2019s — <\/p>\n

SCHIEFFER: But you\u2019re talking about something in this neighborhood, in this ballpark? <\/p>\n

GOOLSBEE: It has to be big. In the campaign, he was looking at a stimulus that was in the $175 billion range, and the economy\u2019s gotten substantially worse since then. So, I mean, as I say, it\u2019s going to be a number big enough that when they spell it out it looks like, ‘Oooo!\u2019 you know, with that many zeros on it.<\/p>\n

RUSH: Folks, grab on to something and hold tight. This is just… $175 billion now up to $700 billion. The annual budget deficit, the annual budget deficit this current fiscal year, which started October 1st, is going to be 1.3 to $1.4 trillion. We\u2019ve never operated under that kind of deficit. All this money, all this bailout money, where\u2019s it coming from? We are borrowing it. We are going further into debt. Does it not strike anybody as strange? Every day we wake up and there\u2019s another $700 billion going over there, another $20 billion for that bank or for that company, another $50 billion or whatever for that auto business. Where does this stop? Does anybody ask where is this money coming from? Any of you who have been paying attention to presidential or electoral politics since the Reagan years, since the eighties, that\u2019s when the liberals first started going nuts about the deficit. The deficit was a monster and it was going to eat us up and it was going to kill us, and that was when it was 200, 300, 400 billion dollars. We\u2019re going to have a deficit, next year — this current year, fiscal year — of $1.4 trillion. Do you wake up and say, ‘Oh, wow, Democrat stimulus may reach $700 billion, $20 billion for Citibank.\u2019 <\/p>\n

And have you noticed something about all this? I don\u2019t want to be a downer here, folks, but let me mention something. We bailed out AIG and went, ‘Yay!\u2019 (clapping) And then there was the next day. We found AIG was going to spas, having meetings. We found out they needed another $80 billion. Not so good. And then we bailed out $700 billion for the toxic asset, ‘Yay!\u2019 (clapping) And then there was the next day where it didn\u2019t help and people said we may need even more. ‘Yaaaay!\u2019 (clapping) And then there was the next day when the secretary of the Treasury came out and said, ‘By the way, we\u2019re not going to buy up the toxic assets and we\u2019re not going to use this as we originally planned, and I can do it here because I have sole power here. We\u2019re going to help try the liquidity markets and get the banks to start lending. ‘Yay!\u2019 (clapping) Then the next day came and the banks hoarded the money and didn\u2019t lend it. Then automobile companies: $25 billion, and the feds said, ‘Maybe,\u2019 and there was no yay. Then the next day came, and the auto execs flew in on their jets. Boooooo! Hissssss! Then they went up and they got grilled and they said what they wanted. And the markets waited with eager bated breath. ‘Yay!\u2019 (clapping) <\/p>\n

Then there was the next day. Harry Reid and Pelosi went out there and said, (paraphrasing) ‘Screw you! We don\u2019t have the votes. You\u2019re going to make us look bad. We can\u2019t continually have losing votes up here. So you guys, you got a term paper to do over the Thanksgiving holiday. You gotta get back to us on December 2nd, and you gotta come back with a plan that we can support for the money you want.\u2019 People went, ‘Yay!\u2019 (clapping) Then there was the next day. What\u2019s the plan going to be? Nobody knew. Then the GM execs and the Ford execs announced that they\u2019re not going to fly their corporate jets anymore. ‘Yay!\u2019 (clapping) And then there was the next day. Then they announced they\u2019re going to carpool from Detroit to Washington when they present their term paper, and some liberals are going, ‘Good, good,\u2019 because liberals don\u2019t like CEOs. They don\u2019t like corporations. Then Obama has his big meeting today. ‘Yay!\u2019 (clapping) He announced it yesterday. ‘Yay!\u2019 (clapping) Then a meeting came today. There were no specifics on tax cuts or economic plans, just the announcement of some people. ‘Yay!\u2019 (clapping) Then there was the next day. <\/p>\n

My point is that after every one of these bailouts is announced — ‘Yay!\u2019 (clapping) — then the next day comes and the next day and the day after that, we find out it didn\u2019t work. After the first $700 bailout we find out that Fannie Mae and Freddie Mac are overdrawn, if you will, be to the tune of $30 billion each. ‘Yay&hellip; Oh, no! Booo. Hiss.\u2019 Then the next day, bail \u2019em out, ‘Yay!\u2019 (clapping) Then the next day came and we\u2019re still foreclosing on people. How can this be? So every day they announce all this new money that we do not have, people go, ‘Yay!\u2019 (clapping) and then the next day happens when all these monies and dollars don\u2019t change anything, long faces set in.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Austan Goolsbee was the economic advisor for Barack Obama during the campaign. He was on Slay the Nation with Bob Schieffer and we\u2019ve got two bites of this. Bob Schieffer said, ‘Obama\u2019s talking about tax cuts, building roads and bridges. Some people are saying that it may have to be something in the neighborhood. […]<\/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":"\nObama Advisors Plan to "Startle" the Economy "into Submission" - 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\/05\/19\/obama_advisors_plan_to_startle_the_economy_into_submission\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Obama Advisors Plan to "Startle" the Economy "into Submission" - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Austan Goolsbee was the economic advisor for Barack Obama during the campaign. 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