{"id":32393,"date":"2009-05-11T01:01:01","date_gmt":"2011-05-19T02:25:22","guid":{"rendered":""},"modified":"2011-05-19T02:25:22","modified_gmt":"2011-05-19T02:25:22","slug":"the_real_obama_budget_is_out","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2009\/05\/11\/the_real_obama_budget_is_out\/","title":{"rendered":"The Real Obama Budget is Out"},"content":{"rendered":"
\n

RUSH: Well, the real Obama budget is out, not the blueprint, and it\u2019s even worse. The Obama budget deficit is to top $1.8 trillion. All of this was predicted! All of this was predictable. Every element of this budget story — and there are three primary elements to it — ‘With the economy performing worse than hoped…\u2019 That was predicted. That was predictable. We\u2019ve ‘stimulated\u2019 the economy with gazillions of dollars since last fall. It has not brought any sign of recovery whatsoever. It never was intended to, if truth be known. ‘With the economy performing worse than hoped, revised White House figures point to deepening budget deficits with the government borrowing almost 50 cents for every dollar it spends.\u2019 We need to substitute a word for ‘borrowing,\u2019 and that word is ‘printing.\u2019 <\/p>\n

The government is printing almost 50 cents for every dollar it spends this year. That is a double wowza! The deficit for the current budget year will rise by $89 billion to above $1.8 trillion — $1.8 trillion! — the budget itself is going to be $3.6 trillion or $3.8 trillion. They say we\u2019re out of money, states say they\u2019re out of money, cities say they\u2019re out of money, local communities say they\u2019re out of money, feds say they\u2019re out of money. They\u2019re not out of money; they are simply spending it and taking over a larger percentage of the gross domestic product or the nation\u2019s economy. ‘A budget deficit of $1.8 is about four times the budget deficit record set just last year. The unprecedented red ink flows from the deep recession, the Wall Street bailout, the cost of Obama\u2019s economic stimulus bill, as well as structural imbalances between what the government expenses and what it takes in.\u2019<\/p>\n

Do you need me to translate this for you? The unprec… (interruption) You do? I need to translate? ‘The unprecedented red ink flows from the deep recession…\u2019 Why? What is it about a recession that causes red ink to expand in Washington? The best way to teach sometimes is to ask. What is it about a recession that creates red ink? Well, the answer is very simple. Lost jobs. Lost jobs mean lost income tax revenue, a total loss of Social Security payroll taxes and everything else. You add to that that a record number of Americans are receiving unemployment compensation. Red ink? Loss of jobs equals loss of tax revenue? Okay. The Wall Street bailout? What about that? What about the Wall Street bailout is causing the deficit to balloon? Well, we had to print money for it, for one thing, we didn\u2019t have it. We were already in budget deficit. Have the Wall Street firms rebounded? <\/p>\n

Have they rebounded, or have many of them shut down and purchased one another and is Barack Obama now not in charge of them? What did the Wall Street bailout accomplish other than getting more and more Americans to hate Wall Street (other than getting more and more Americans to hate the wealthy and to hate business)? The new enemy, the new enemy in Barack Obama\u2019s ‘class warriors America\u2019 is the wealthy and big business. So of course we bail \u2019em out; it doesn\u2019t work; then we hear about their bonuses and then we hate \u2019em. The cost of President Obama\u2019s economic stimulus bill. Hmm! Why would that lead to red ink? Well, because we don\u2019t have the money. We\u2019re ‘stimulating\u2019 a bankrupt economy — or a bankrupt government is stimulating an economy with money it doesn\u2019t have. You figure it out. <\/p>\n

It\u2019s gotta print it, it\u2019s gotta borrow it, but it doesn\u2019t have it. You have an economy in recession being ‘bailed out\u2019 by a bankrupt government that doesn\u2019t have any money! It would be one thing if the government was flush with cash and was offering bailouts, but the government doesn\u2019t have any money. And when the government doesn\u2019t have any money, they panic, and then they\u2019re gonna raise everybody\u2019s taxes and they\u2019re going to go out there and do whatever they have to do, if they have to print it, whatever. They\u2019re hiring new people left and right while every other job sector is losing jobs — and ‘the structural imbalance between what the government spending and what it takes in.\u2019 Structural balance is a bunch of gobbledygook that can best be defined as surefire greed. If there is greed in the United States of America today, it is found in the Oval Office of the White House in Washington, DC. <\/p>\n

‘Greed\u2019 is to be found in the offices of Nancy Pelosi, Steny Hoyer, Harry Reid, Chris Dodd, Barney Frank, and every other Democrat in Washington. That\u2019s where the greed is. That\u2019s where the ‘structural imbalance between what the government spends and…\u2019 What do you mean, structural? There\u2019s nothing structural. It\u2019s criminal! Not structural. This is not the way the government was designed. The government was not designed to spend more than it takes in. This is purposeful! ‘As the economy performs worse than expected…\u2019 Worse than expected? Anybody with half a brain knew this was going to be the case with all of this government spending. This government is usurping much of the private sector. The private sector can\u2019t possibly recover when the government\u2019s taking over more and more of it. <\/p>\n

The two don\u2019t go together. ‘As the economy performs worse than expected, the deficit for the 2010 budget year beginning in October will worsen by $87 billion to $1.3 trillion. The deterioration reflects lower tax revenues and higher costs for bank failures, unemployment benefits, and food stamps.\u2019 But in the Oval Office of the White House, none of this is a problem. This is the objective! The objective is unemployment. The objective is more food stamp benefits. The objective is more unemployment benefits. The objective is an expanding welfare state. The objective is to take the nation\u2019s wealth and return it to the nation\u2019s, quote, ‘rightful owners.\u2019 Think reparations. Think forced reparations here, if you want to understand what actually is going on. <\/p>\n

So I don\u2019t see any concern from Washington about any of this budget deficit stuff. In fact, not only do I not see any concern, there is this little ditty to add to the news: ‘High US budget deficits are being driven by an economic crisis that President Barack Obama inherited, White House Budget Director Peter Orszag said on Monday. Orszag, writing in a blog posting, also said that the administration\u2019s latest budget deficit estimates … reflect the latest data on tax receipts, federal bailouts and other government costs.\u2019 So George Bush was so bad and so rotten, that the only way for Barack Obama to repair and resurrect the country from eight years of the disaster of Bush was to create budget deficits four times larger than Bush\u2019s. <\/p>\n

Bush made him do it! This will be the excuse that is used every time bad news is reported or bad news is known : ‘We have no choice. Bush made us do it!\u2019 Eight years of vilifying Bush, trashing Bush will pay off, because the dunderheads that are devoted as a cult-like group to Barack Obama will simply believe what is offered. ‘[G]loomier deficit picture reflected weaker tax receipts…\u2019 What could they have done to perhaps increase tax receipts? What could they have done? I proposed it myself! I proposed it in my legitimate bipartisan budget proposal in the Wall Street Journal: cut the corporate income tax rates; stop all this notion of raising taxes on business, businesses overseas; and eliminate capital gains for a year or so, just holiday it to reincentivize investment. <\/p>\n

If you want more revenue flowing into Washington, you\u2019re going to have to get people working again, and to do that you\u2019re going to have to cut people\u2019s taxes somewhere along the line to give them revenue to hire workers, hire employees. You\u2019re going to have to cut taxes somewhere so that there is private sector economic growth. But the private sector economic growth, that would put a monkey wrench in the plans of Barack Obama, who uses all of these crises as excuses and\/or reasons to involve the federal government as the Robin Hood, as the white knight, as the savior that\u2019s going to fix all of this. Of course, even their own news releases admit that nothing\u2019s getting fixed. But that\u2019s because of Bush. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Well, President Obama has just finished talking about the unsustainable cost of health care and how his administration is gonna fix it, gonna lower the cost of health care. He\u2019s got an idea for cutting costs. He\u2019s going to nationalize health care. Now, this is from the guy who is proposing a single-year budget deficit of $1.8 trillion, and he\u2019s going to save health care. It\u2019s absurd! Just today, he announces a budget deficit of $1.8 trillion, which is a record times four, and he goes out on the same day and says he\u2019s going to do magic and reduce health care costs by nationalizing it? How will President Obama and the government cut health care costs if they can\u2019t cut any other costs that they\u2019re responsible for? Well, the only answer would be to ration health care, to limit access, to create long lines and delays. But Obama doesn\u2019t care because his goal is to force everyone into the same kind of health care, regardless how hard they work, how much they earn, how responsible they are with their money, or how poor that health care is. Because what Obama\u2019s doing is redistributing wealth, including health care. And if that means less health care for those who can afford it, then so be it. <\/p>\n

<\/a>We all have to sacrifice, as Obama likes to say, even though he never sacrifices. He said that 46 million people are without health care. It\u2019s a lie. It can be torn apart. Levin, in fact, breaks it down in his book, Liberty and Tyranny. But the Census Bureau has the numbers to put this lie to the myth. But again, if a liberal lies on television and the media doesn\u2019t report it, is it a lie? If the nation is in $1.8 trillion of debt, in debt by that amount, $1.8 trillion just from his budget, and another nine trillion down the road as all of his budgets get added up, how can the government, as an entity, afford to take over the health care system? This was my question a moment ago. How can a government that has no money bail out failing businesses? How can a government that is $9 trillion in debt take over anything, including health care? How can they do it? Nine trillion dollars in debt. They can\u2019t afford to take over a kid\u2019s lemonade stand on Main Street USA. They are out of money. <\/p>\n

When Obama says, as he\u2019s saying now in his remarks, that he wants to get costs under control, what does he mean? Well, he means he\u2019s going to squeeze the doctors, he\u2019s gonna squeeze drug companies. Costs under control? Are we going to have fewer doctors, fewer nurses, less hospitals, less medicines, fewer procedures, fewer technologies? We have a right to know how he\u2019s going to control costs. Are you going to control costs by making sure doctors don\u2019t make as much, fine, where are you going to get the doctors then? Are you going to control costs by saying drugs are not going to be as expensive? Good, where are you gonna get the companies to make the drugs? ‘Oh, Mr. Limbaugh, we\u2019ll import them from Canada like we should be doing now.\u2019 Oh, I got you. Barack Obama has yet to show in any way how he will control the cost of anything, including his ego. This is why we have a runaway budget, and this is why we\u2019re heading toward a cliff and eventually over and off of it with our debt. And after his speech, he leaves the podium, no questions. There are no questions suitable to be asked of The One. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Well, the real Obama budget is out, not the blueprint, and it\u2019s even worse. The Obama budget deficit is to top $1.8 trillion. All of this was predicted! All of this was predictable. Every element of this budget story — and there are three primary elements to it — ‘With the economy performing worse […]<\/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":"\nThe Real Obama Budget is Out - 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:\/\/admin.rushlimbaugh.com\/daily\/2009\/05\/11\/the_real_obama_budget_is_out\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"The Real Obama Budget is Out - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Well, the real Obama budget is out, not the blueprint, and it\u2019s even worse. 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