{"id":34634,"date":"2011-05-19T01:25:02","date_gmt":"2011-05-19T01:25:02","guid":{"rendered":""},"modified":"2011-05-19T01:25:02","modified_gmt":"2011-05-19T01:25:02","slug":"biden_lies_on_inherited_economy","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/","title":{"rendered":"Biden Lies on “Inherited” Economy"},"content":{"rendered":"
\n

RUSH: Now, listen to this. Joe Biden was on Larry King Alive last night. And Larry King, following right along with the questions they gave him, said (impression), ‘Are you optimistic about the jobs bill?\u2019<\/p>\n

BIDEN: By the spring I think people are gonna begin to have more confidence in the policies we\u2019ve — we\u2019ve put in place. I think you\u2019re going to see net creation of jobs every month. Now, it\u2019s not going to be seven million jobs in the next six months. It\u2019s a depression for millions of Americans. But we took this job knowin\u2019 we were facing a gigantic hole we were going to fall into.<\/p>\n

KING: Inherited it.<\/p>\n

BIDEN: We inherited it.<\/p>\n

RUSH: Yeah, ‘We inherited it.\u2019 You know, why don\u2019t they do something: Take the New Madrid Fault where I live — and Obama, that\u2019s a New Madrid, Missouri, a short little stop at Cape Girardeau. There\u2019s an earthquake fault there. Been predicting the big one there just like the San Andreas for a long time. I think what Obama could do is maybe Obama and Biden have a joint, big, wallapaloozing ceremony in honor of President Bush and name the New Madrid Fault after him so it becomes ‘Bush\u2019s Fault.\u2019 Because this seems to be the only thing these people have to say. Now, what Biden\u2019s talking about here, ‘The United States…\u2019 This is State-Controlled AP. ‘The United States is likely to average 95,000 more jobs each month this year, while personal savings will remain high as credit remains tight, according to a White House report released [today]. <\/p>\n

‘The Council of Economic Advisers also trumpeted the $787 billion economic stimulus package, which it said has saved or created about 2 million jobs. In a message to Congress, President Barack Obama pointed out that the economy he inherited was losing 700,000 jobs each month but now says 95,000 jobs will be produced net every month starting this spring.\u2019 Now, by this time I have a simple question. Who cares what Obama or his people say about the economy and what they predict in the future? They have been grossly wrong time and time again! Who cares what they predict? Here\u2019s the truth: The American left, the liberals, keep attacking the regulatory system that was in place before Obama was elected; when in fact it is mostly their regulatory system. They complain about inheriting deficits when in fact they pushed for even bigger deficits when Bush was president, including Senator Obama. <\/p>\n

Senator Obama voted for every spending bill that came down the pike! He cannot distance himself from all of this. In fact, he and the Democrats were asking Bush to spend more. Look, it\u2019s the Democrats and their buddies that ran Fannie Mae and Freddie Mac and we just did a Morning Update today on the sorry shape they\u2019re in. They are so in debt. They\u2019ve been bailed out. There\u2019s no hope that Fannie Mae and Freddie Mac are ever going to get whole. The people that run Fannie Mae, Freddie Mac, received tens of millions of dollars in bonuses — and, meanwhile, Obama is out there complaining about everybody else getting bonuses. So what exactly…? I need to ask, what exactly did the Republicans do to reduce regulations? Honestly. What specifically did they do to eliminated some key regulation that would have prevented the housing collapse? <\/p>\n

Specifics, please! They can sit around here and they can blame Bush and blame the Republicans all they want, but I want to know what the Republicans did. Because the truth of the matter is: They did it. The Community Reinvestment Act was hatched by Carter, it was expanded by Bill Clinton, it was used by ACORN and their allies to wreck the housing market by wrecking the mortgage market by demanding that mortgages be given to people who could no way pay \u2019em back. Ergo, the subprime mortgage crisis. It was called ‘affordable housing,\u2019 and it was designed to wreck the whole system. AIG and the rest? I mean, I don\u2019t defend AIG, but they were trading loans (derivatives, if you will) that were based fundamentally on loans created by liberal policies. I\u2019m really getting fed up with this notion that everything they inherited was Bush\u2019s fault. <\/p>\n

They have doubled down on whatever was wrong! I want them to name whatever these regulations are the Republicans did that created this mess. Because my memory is that George Bush, a number of times, tried to stop some of this stuff going on with the subprime crisis. His poor regulator got up there and got beat up by Barney Frank and whoever, Chris Dodd, and the regulators just lost their teeth and kind of slinked away. I mean, the problem here, folks — as it\u2019s always been, and I\u2019m sure those of you who own and operate small businesses will agree with me — is there are too many regulations. There are too many laws. You can\u2019t keep up with them, now. There\u2019s too much government interference. So here we have the left, Obama and his buddies with Biden out there on Larry King last night creating yet another lie that persists for decades: That deregulation caused this recession. <\/p>\n

It was liberalism! It was socialism! It was big government and their liberal groups that caused all this. Deregulation? There wasn\u2019t any deregulation! That\u2019s their favorite ploy, though: ‘If you let the capitalist, free market system go wild, everything falls apart and only a precious few end up doing well and everybody else gets creamed because the precious few doing well are stealing from everybody else.\u2019 It\u2019s absurd, it\u2019s nonsense, but this is their constant refrain. ‘Regulation,\u2019 ‘reform\u2019 is always growing government, more regulations, more obstacles, more putting people behind an eight ball with more obstacles in their way so they can\u2019t possibly overcome them to be successful. We have inherited… If you want to talk about inheritance, we have inherited what Obama and his party and his friends have created, and even if we win these elections in November it is going to two or three… I don\u2019t know long. It\u2019s going to take a generation to fix all it is, the damage they have done in — well, not just one year, because the Democrats took over the House in 2007. <\/p>\n

You can track — you can track — when unemployment started track up. You can track when the GDP started to go down. You can track any number of things to the Democrats acquiring more and more power and finally President Obama in November of 2008. Take a look unemployment then. Take a look at unemployment in November 2008 and forward and you\u2019ll find that people in charge of knowing how to run a business, ‘Uh-oh. We in heap big doo-doo.\u2019 So we have inherited, folks, what Obama and his party and his friends have created. Joe Biden…. Joe Biden was in the Senate for over 30 years. He was a big spending, free spending liberal. You will find no record at all of Biden demanding the government stop pushing banks make loans to people who couldn\u2019t afford them. Biden dares go on Larry King last night and say he inherited all this? He helped create it!<\/p>\n

And any other Democrat in office for 10 years, 20 years, 30 years, joins Biden as an architect of this disaster. Meanwhile, in case you don\u2019t know it, Obama still has not killed the Community Reinvestment Act. Obama still supports it. Obama still supports the very thing that caused the subprime mortgage crisis in the first place. ACORN still supports it. Barney Frank and Chris Dodd, both of whom should be sharing a cell with Bernie Madoff, still support it. So let me challenge. They\u2019re not going to come on this program and debate me. I know they\u2019re not going to do that on health care. Let me challenge them again: Obama and the Democrats, eliminate the Community Reinvestment Act and all laws that compel banks to make loans to poor people who can\u2019t afford \u2019em. Let\u2019s get rid of some of these regulations, requirements that have led to this snafu and this big problem. But they\u2019re not going to do that because they want the snafu, they want the big problem, they want radical redistribution of wealth. They have targeted the US private sector, and they continue to do so each and every day, and now Obama\u2019s gone ‘agnostic\u2019 on middle-class tax cut.<\/p>\n

(paraphrased) ‘Well, you can\u2019t say I\u2019m for \u2019em now because they\u2019ll kill me for flip-flopping so I gotta act like I\u2019m open to anything at this point,\u2019 which is what he\u2019s doing, and he hopes to get away with that because of your perception of his superior intelligence. Corpse-man, 57 states, and then any time the guy speaks without a teleprompter, it\u2019s a roll of the dice. Job growth? This business of 95,000 jobs every month, net, starting this spring. Do you know why job growth is not lowering unemployment? There are a whole lot of people unemployed, not looking for jobs anymore. They\u2019re totally dispirited. A reduction in jobless claims doesn\u2019t mean these people are getting new jobs. It means they\u2019ve dropped out of the system altogether. That\u2019s why you gotta look at the U6 unemployment figure, which puts it up 17, 18%. Not this 9.7%. So now they\u2019re on welfare, food stamps, what have you — and, of course, I have a stack here with two different stories on how the food stamp stigma is gone. The welfare stigma is gone. It\u2019s just absolutely wonderful that all these programs exist for people who are unemployed. This is the purpose. They want all of us on food stamps. I\u2019m not exaggerating. They want all of us depending primarily on government for whatever it is we have. That\u2019s who these people are. Make no mistake about it.<\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Now, listen to this. Joe Biden was on Larry King Alive last night. And Larry King, following right along with the questions they gave him, said (impression), ‘Are you optimistic about the jobs bill?\u2019 BIDEN: By the spring I think people are gonna begin to have more confidence in the policies we\u2019ve — we\u2019ve […]<\/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":"\nBiden Lies on "Inherited" Economy - 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\/2011\/05\/19\/biden_lies_on_inherited_economy\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Biden Lies on "Inherited" Economy - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Now, listen to this. Joe Biden was on Larry King Alive last night. And Larry King, following right along with the questions they gave him, said (impression), ‘Are you optimistic about the jobs bill?\u2019 BIDEN: By the spring I think people are gonna begin to have more confidence in the policies we\u2019ve — we\u2019ve […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/www.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#webpage\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/\",\"name\":\"Biden Lies on \\\"Inherited\\\" Economy - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#primaryimage\"},\"datePublished\":\"2011-05-19T01:25:02+00:00\",\"dateModified\":\"2011-05-19T01:25:02+00:00\",\"author\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\"},\"breadcrumb\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Biden Lies on “Inherited” Economy\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g\",\"caption\":\"admin\"},\"url\":\"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Biden Lies on \"Inherited\" Economy - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/","twitter_card":"summary","twitter_title":"Biden Lies on \"Inherited\" Economy - The Rush Limbaugh Show","twitter_description":"RUSH: Now, listen to this. Joe Biden was on Larry King Alive last night. And Larry King, following right along with the questions they gave him, said (impression), ‘Are you optimistic about the jobs bill?\u2019 BIDEN: By the spring I think people are gonna begin to have more confidence in the policies we\u2019ve — we\u2019ve […]","twitter_image":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg","twitter_misc":{"Written by":"admin","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebSite","@id":"https:\/\/www.rushlimbaugh.com\/#website","url":"https:\/\/www.rushlimbaugh.com\/","name":"The Rush Limbaugh Show","description":"Excellence In Broadcasting","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rushlimbaugh.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#primaryimage","inLanguage":"en-US","url":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg","contentUrl":"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/01125107.Par.89380.ImageFile.jpg"},{"@type":"WebPage","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#webpage","url":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/","name":"Biden Lies on \"Inherited\" Economy - The Rush Limbaugh Show","isPartOf":{"@id":"https:\/\/www.rushlimbaugh.com\/#website"},"primaryImageOfPage":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#primaryimage"},"datePublished":"2011-05-19T01:25:02+00:00","dateModified":"2011-05-19T01:25:02+00:00","author":{"@id":"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b"},"breadcrumb":{"@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/admin.rushlimbaugh.com\/daily\/2011\/05\/19\/biden_lies_on_inherited_economy\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.rushlimbaugh.com\/"},{"@type":"ListItem","position":2,"name":"Biden Lies on “Inherited” Economy"}]},{"@type":"Person","@id":"https:\/\/www.rushlimbaugh.com\/#\/schema\/person\/911066e449df26406b107ca78cbbde0b","name":"admin","image":{"@type":"ImageObject","@id":"https:\/\/www.rushlimbaugh.com\/#personlogo","inLanguage":"en-US","url":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/f18195e0073013fa0e16b040686c2924?s=96&d=mm&r=g","caption":"admin"},"url":"https:\/\/admin.rushlimbaugh.com\/daily\/author\/admin\/"}]}},"_links":{"self":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/34634"}],"collection":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/users\/25"}],"replies":[{"embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/comments?post=34634"}],"version-history":[{"count":0,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/posts\/34634\/revisions"}],"wp:attachment":[{"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/media?parent=34634"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/categories?post=34634"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/admin.rushlimbaugh.com\/api\/wp\/v2\/tags?post=34634"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}