{"id":31879,"date":"2009-03-09T01:01:01","date_gmt":"2011-05-19T02:40:16","guid":{"rendered":""},"modified":"2011-05-19T02:40:16","modified_gmt":"2011-05-19T02:40:16","slug":"tired_frustrated_obama_inspires_zero_confidence_scares_millions","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/03\/09\/tired_frustrated_obama_inspires_zero_confidence_scares_millions\/","title":{"rendered":"Tired, Frustrated Obama Inspires Zero Confidence, Scares Millions"},"content":{"rendered":"
\n

RUSH: I got a couple of audio sound bites I want to play here for you from President Obama. Before playing these two sound bites, I want to recognize something that I don\u2019t think the White House seems to understand, or maybe they do. It\u2019s always problematic to characterize these people because you really don\u2019t know what they know, what they understand, because they are so inwardly focused. But I want you to understand that I understand just how much fear there is in this country among people who have seen over half of everything they had saved vanish, and there is no indication that it is going to start building again. The whole notion that the American dream of hard work, ambition, combined with dreams can make things possible, more and more people are losing belief in that, understandably so. Not everybody is, but a lot of people are, more than you know. There is palpable fear. <\/p>\n

Let\u2019s talk about seasoned citizens first. Some of them have only their Social Security, but others have more or had more. They had retirement accounts, various places that their portfolio was diversified. Whenever anybody\u2019s portfolio was, however it was diversified, half of it\u2019s gone in six months with no end in sight, and certainly no rebound in sight. And people are wondering what to do. Should they take their money out of the market? They see everybody else shorting the market. The Dow Jones Industrial Average down 16 points today. It\u2019s been flirting up 25, down 25, but it isn\u2019t moving up, it\u2019s not ticking up. So people are wondering should they actually pull their money out, convert it to cash and put it in a safe somewhere? There is fear of the banks not being solvent. More banks in Georgia were shut down late last week or over the weekend. It\u2019s something that happens now with a predictable frequency. And generally people are talking, ‘Where is the bottom going to be?\u2019 Nobody can tell you where the bottom is going to be. <\/p>\n

The president of the United States is not inspiring any confidence whatsoever. All of this economic tumult is really the result of a banking crisis with no effort to fix it. There is no plan. Geithner doesn\u2019t know what he\u2019s doing. He just got three assistants that were nominated to serve with him, but he doesn\u2019t know what he\u2019s doing. There\u2019s nobody in this administration inspiring confidence that there is an end in sight to this. The only people being inspired are those who simply believe the words of Obama because he\u2019s Obama, the same people that voted for him, because there\u2019s certainly nothing of substance. Let\u2019s listen to a couple of sound bites. This is last Friday. Less than 90 minutes after Air Force One landed on the way back from Columbus, Ohio, President Obama called the New York Times about the interview he gave them earlier. <\/p>\n

One of the things that he was upset about, they\u2019d asked him about whether he was a socialist, and apparently his handlers thought that his answer wasn\u2019t any good, because he says, (paraphrasing) ‘I\u2019ve been thinking about this socialist thing that you guys at the New York Times asked me about, and I thought you were joking, but if you were serious, I want to give you a serious answer to this.\u2019 Clearly the accusation that he\u2019s a socialist is bothering him, and if you call a news agency back to try to set the record straight, in the first place he\u2019s the only guy that can get away with that, calling back, ‘By the way, I want to change what I said to you guys,\u2019 da-da-da-da-da. If I tried something like that, ‘Uh-oh, uh-oh, we caught Limbaugh! Mr. Limbaugh called the New York Times back trying to change the record, but, a-ha, we\u2019ve discovered that we hit a sore spot.\u2019 It\u2019s not how it goes with Mr. Obama yet, but the New York Times reporter says, ‘So who\u2019s watch are we talking about here, sir, when it comes to this socialism business?\u2019<\/p>\n

OBAMA: By the time we got here, there already had been an enormous infusion of taxpayer money into the financial system, and the thing I constantly try to emphasize to people is that if coming in the market was doing fine, nobody would be happier than me to stay out of it.<\/p>\n

REPORTER: Right.<\/p>\n

OBAMA: You know, I have more than enough to do without having to worry about the financial system.<\/p>\n

RUSH: Now, that\u2019s an inspiring thing to say. I have more than enough to do without having to worry about the financial system. This does not inspire confidence among people who listen to what this man says. This frightens them. This whole answer that he gave, ‘I constantly try to emphasize to people that, if coming in, the market was doing fine, nobody would be happier than me to stay out of it.\u2019 The dirty little secret is, Mr. President, we had stimulated the banks. We stimulated Wall Street, and it didn\u2019t work. This is a question that I asked last Friday. Aren\u2019t we about out of time now? Don\u2019t we have enough evidence that these political solutions don\u2019t work? We bailed out General Motors. Their auditors are talking about bankruptcy. We bailed out Chrysler, ditto. We bailed out banks, they continue to go south, they continue to lose their share price. The New York Times has had to sell and buy back or done some maneuver with its own building today. Anything that we have touched, anything the US government\u2019s bailed out is not working: AIG, Citibank, Citigroup, whatever, any of these banks, the vast majority of them, not all, continue to have trouble. <\/p>\n

All of this stimulus, quote, unquote, is not stimulating, it\u2019s not causing confidence. It\u2019s not creating confidence, it\u2019s not causing a rebound, it\u2019s not causing an uptick in any market indicator. And the president says, ‘You know, I have more than enough to do without having to worry about the financial system.\u2019 Mr. President, the financial system is all there is right now to people. The financial system undergirds every other failure that\u2019s going on here, from the housing to the car industry to wherever you want to look. And then we hear that the president was too tired to give a proper welcome to Gordon Brown. Yeah, he didn\u2019t know that you have to have a joint press conference and maybe a state dinner the first time the leader comes to see you from your number-one ally. He was just overwhelmed, just too tired, so much going on, he had no idea. Well, what is that supposed to mean? Did we elect a kid here that has no executive experience at all, is that what we\u2019re now being told, that we elected a good-intentioned, a well-intentioned kid, a community agitator, he had no executive experience, and he\u2019s going to figure it out at some point, but don\u2019t hold it against him. He didn\u2019t know that these kinds of things are important. What do you mean, he didn\u2019t know? There\u2019s all kinds of protocol people in the White House. <\/p>\n

Have you ever stopped to think how it is the White House functions from one day when Bush leaves \u2019til the next day Obama goes in? Do you think everybody gets swept out? I tell you, it defies logic for me sometimes to try to understand how people are being told to appreciate or understand Obama. To say that there\u2019s nobody in this White House that understands the importance of the allied relationship with Great Britain, that\u2019s not the way to put it. The way to put it is this bunch doesn\u2019t care about that relationship. That\u2019s the way to look at it \u2019cause that\u2019s the way it is. This bunch doesn\u2019t care nearly as much as past administrations have about our allied relationship with the United Kingdom. Who do you think it is that tells the new arrivals how things operate when the old arrivals leave? There\u2019s orientation. They can\u2019t play this game of ignorance and inexperience, ‘Oh, I\u2019m too tired, we didn\u2019t know.\u2019 That\u2019s a cover-up. Whatever they decided to do with Gordon Brown was purposeful and I would come up with something better as an excuse than to say our young, energetic, in-shape, very disciplined young president was tired. That just doesn\u2019t wash. Not with me. Here\u2019s the next sound bite, Friday aboard Air Force One, a portion of the interview where President Obama is talking about the economy.<\/p>\n

OBAMA: What I — I don\u2019t think people should do is to suddenly stuff money in their mattresses and pull back, you know, completely from spending. I don\u2019t think that people should be fearful about our future.<\/p>\n

RUSH: You don\u2019t think people should be fearful about the future? Well, they are. They are because they\u2019re losing it. They are losing their future each and every day, Mr. President. They see their future dwindling away and they\u2019re wondering how to save what\u2019s left. There\u2019s no inspiration coming from the White House on this. There\u2019s no motivation, there\u2019s no uplifting whatsoever. And, by the way, the last time a president said, ‘Go out there and spend, engage in commerce,\u2019 it was George W. Bush, and the Democrat Party raked him over the coals for being insensitive. There\u2019s supposed to be shared sacrifice because of the war in Iraq, it was supposed to be shared sacrifice. Well, hello. You\u2019re getting shared sacrifice. This is what they meant all along, everybody gets poorer. That\u2019s shared sacrifice. <\/p>\n

Then the San Francisco Chronicle today with an AP story: ”Wall Street\u2019s Pessimism Expected to Trump the Data\u2019 — The weekly calendar holds little meaning on Wall Street these days. Traders and investors who normally plot their course around expected economic figures and corporate announcements are trying to hang on in a market that isn\u2019t being corralled by the usual forces. These days, fear does the driving. … Analysts don\u2019t expect the coming week to be an exception. Investors are focused on trying to detect whether there\u2019s any shift away from the market\u2019s overriding pessimism.\u2019 Pessimism? Pessimism is ruling the day on the market, not the data. What this story is saying is, even if there\u2019s some good data that pops up, the pessimism is going to overwhelm the data, the pessimism\u2019s going to survive, and people are going to invest and use investment strategeries based on pessimism. <\/p>\n

On page two of the story: ‘Investors are still looking to the government for insight into what will happen with the nation\u2019s biggest financial companies and its bloated home inventory.\u2019 Can we go back and play audio sound bite number seven, have it standing by in just a moment. ‘Investors are still looking to the government for insight into what will happen with the nation\u2019s biggest financial companies and its bloated home inventory.\u2019 So investors, they\u2019re waiting for a plan, they\u2019re waiting for new rules, they\u2019re not going to throw money back in the market \u2019til there are some rules that the government sets, bad or good rules, there are no rules \u2019cause Obama has got more important things to do.<\/p>\n

OBAMA: By the time we got here, there already had been an enormous infusion of taxpayer money into the financial system, and the thing I constantly try to emphasize to people is that, if coming in, the market was doing fine, nobody would be happier than me to stay out of it.<\/p>\n

REPORTER: Right.<\/p>\n

OBAMA: You know, I have more than enough to do without having to worry about the financial system.<\/p>\n

RUSH: Aw, damn it. Now I gotta worry about the financial system, too. I had such grandiose plans. Now I gotta worry about the financial system. The market\u2019s waiting for somebody to do something, set some rules, come out with whatever the bank bailout plan, the next one is going to be, or what have you. So pessimism is ruling the day in the investment markets. If you\u2019re scared, you\u2019re not the only one. You are joined by millions that are scared who don\u2019t know what to do and are looking now at cash in a safe in their homes as a safer thing to do than to leave money in a bank or in an investment account, a portfolio of various investment instruments or what have you. And he expresses frustration that he has to deal with that. He\u2019s got all these other plans he wants to do. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Let\u2019s shed a little light here, ladies and gentlemen, on the White House policy with the United Kingdom. He was just tired. He was just tired. From the UK Telegraph, he was just ‘too tired\u2019 to give a proper welcome. However, if you read further in the UK Telegraph story, you come across this: ‘The real views of many in Obama administration were laid bare by a State Department official involved in planning the Brown visit, who reacted with fury when questioned by The Sunday Telegraph about why the event was so low-key. The [State Department] official [working for Obama] dismissed any notion of the special relationship, saying: ‘There\u2019s nothing special about Britain. You\u2019re just the same as the other 190 countries in the world. You shouldn\u2019t expect special treatment.” That from a State Department official quoted in the UK Telegraph to explain why Obama disrespected Gordon Brown and the UK. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: I got a couple of audio sound bites I want to play here for you from President Obama. Before playing these two sound bites, I want to recognize something that I don\u2019t think the White House seems to understand, or maybe they do. 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