{"id":37039,"date":"2010-12-09T01:01:01","date_gmt":"2011-05-19T00:15:23","guid":{"rendered":""},"modified":"2011-05-19T00:15:23","modified_gmt":"2011-05-19T00:15:23","slug":"meacham_george_h_w_bush_gets_credit_for_the_90s_economy","status":"publish","type":"post","link":"https:\/\/admin.rushlimbaugh.com\/daily\/2010\/12\/09\/meacham_george_h_w_bush_gets_credit_for_the_90s_economy\/","title":{"rendered":"Meacham: George H.W. Bush Gets Credit for the \u201990s Economy"},"content":{"rendered":"
\n

RUSH: Jon Meacham, the guy who left Newsweek and he\u2019s now an op-ed contributor of the New York Times. Who woulda thought that possible? Anyway, he\u2019s got a piece here: ‘No Deficit of Courage.\u2019 Now, this piece is amazing. This is very interesting. Stick with me on this. ‘IS it, in fact, 1994-95 all over again? The atmospherics are certainly familiar. We have a Democratic president who appears to be tacking to the center to work with Republicans after being battered in the midterms. Jilted liberals, meanwhile, are left wondering how they could have been so blind about the man they had fallen for so hard. The Clinton comparison has been much in the air after President Obama\u2019s deal to extend the George W. Bush-era tax cuts. But a more apt analogy for the present lies in 1990, not in 1994, and with George Herbert Walker Bush, not with William Jefferson Clinton.<\/p>\n

‘It was in 1990 that Mr. Bush broke one of the most celebrated promises in modern American politics — ‘Read my lips: no new taxes,\u2019 as he put it in 1988 — in order to control federal spending. In the same way that Mr. Obama struck his deal to secure lower tax rates for the middle-class and win an extension of unemployment benefits, Mr. Bush gave on tax rates to get ‘pay as you go\u2019 rules — meaning that no further spending could be approved without compensating budget cuts or revenue increases. It was the beginning of the fiscal discipline that helped create the budget surpluses of the 1990s.\u2019 Now, I have been alive every year since this, and for every year since this happened, every bit of credit for a booming economy in the nineties went to Slick Willie. Now, all of a sudden, pulling out all the stops to help their little manchild over the hump get the credit, they have to go back, and for the first time in history credit George H.W. Bush? <\/p>\n

Mr. Meacham in the tank for the Democrats whether he\u2019s writing at Newsweek or the New York Times, giving Bush 41 credit for the nineties? Since when have these guys ever given credit to anybody but Clinton for that economy? And if the truth be known it wasn\u2019t even Clinton. It was Newt Gingrich and the Republican House of 1994 who deserve the credit. But the point is suddenly that when it\u2019s convenient for our manchild president to get credit for something that he\u2019s had nothing to do with, go back and cite Bush 41. Mr. Meacham continues: ‘While Mr. Obama\u2019s immediate concern is stimulus and Mr. Bush\u2019s was deficit-reduction, both gave way on issues critical to the true believers within their parties. For Mr. Bush, it was political death. He had never been fully trusted by a Reaganite Republican base. Like Mr. Obama — who is unhappy with his ‘sanctimonious\u2019 left wing — Mr. Bush was no ideologue.\u2019<\/p>\n

Oh, so now Obama is not an ideologue. You see how this works, folks? You see how this is all being tied together? So now all of a sudden Obama in the course of 24 hours, says, ‘You know what, you don\u2019t do this tax deal, we\u2019re gonna have a double-dip recession,\u2019 which he doesn\u2019t believe, and now he\u2019s not an ideologue. Mr. Meacham, Obama is an ideologue, a committed Marxist ideologue. His ideology was just beaten on Election Day. It was just trounced. That\u2019s what\u2019s happened here. Obama wrote in his diary early in his term, ‘I\u2019m not going to be held up by campaign rhetoric. If the facts change, I hope I\u2019m smart enough to change, too.\u2019 <\/p>\n

‘Mr. Bush privately said that he had no intention of being ‘off in some ideological corner falling on my sword and keeping the country from moving forward.” That\u2019s because Bush 41 never really understood supply-side economics. He was elected by people who did though and then he was beaten four years later when it was obvious he didn\u2019t. That\u2019s true. ‘He knew that doing what he believed was in the country\u2019s best interest could cost him his job in 1992.\u2019 <\/p>\n

I should say could cost him his job. He might have known that. But, Mr. Meacham, that was 20 years ago and have you or anybody else in the Drive-By Media ever written that what Bush 41 did was in the country\u2019s best interests? Did you ever say that in 1992? Have you ever credited Bush 41 for anything? No. No. All that credit went to Clinton, except now, when they have to draw some — They don\u2019t want to draw an analogy to Clinton, just don\u2019t, so they gotta go to Bush 41. <\/p>\n

Mr. Meacham writes: ‘But in real time, aware of the consequences, he made the best of the world as he found it. After his election loss to Mr. Clinton, Mr. Bush wrote to Nicholas Brady, his Treasury secretary, that the budget deal would have helped him if the economy had strongly recovered. ‘It didn\u2019t,\u2019 Mr. Bush added, ‘and I was the ‘read my lips\u2019 liar — over and over and over again. I heard it — it killed us.” So Meacham says, ‘If you play out the 1990 analogy, Mr. Obama, like Mr. Bush, may be a one-term president. Mr. Clinton won re-election because of his political gifts and the improving economy and because he was fortunate in his Congressional foes. Mr. Bush did not have these advantages.\u2019 Want me to translate this for you? Clinton\u2019s congressional foes were right, Gingrich and the boys, and that\u2019s what made the economy boom. Bush 41\u2019s congressional foes were wrong, Tom Foley, and that\u2019s what hurt the economy. And let\u2019s not forget about Ross Perot in here in terms of the presidential race in 1992. So the analogy falls apart, but man, it\u2019s amazing that they\u2019re trying to make it. <\/p>\n

‘It is too soon to tell what will confront Mr. Obama. If his bill, with its middle-class tax benefits, stimulates the economy –‘ see, there aren\u2019t any new middle-class tax benefits except a one-year, 2% reduction in the payroll tax. That\u2019s it. One year! See, now they\u2019re calling this a stimulus. ‘If his bill, with its middle-class tax benefits, stimulates the economy, then his compromise on a liberal article of faith may one day rank with Mr. Bush\u2019s courage under conservative fire.\u2019 So here you have Drive-By stenographer Jon Meacham suddenly in love with Bush 41. What do you bet he\u2019s working on a book? What do you bet he\u2019s working on a book? Oh, looky here, at the end: ‘Jon Meacham, the author, most recently, of ‘American Lion: Andrew Jackson in the White House,\u2019 is at work on a biography of George H. W. Bush.\u2019 He is writing a book on George H. W. Bush! I had not read all the way to the end. Snerdley, I\u2019m telling you, I said, ‘Maybe he\u2019s writing a book.\u2019 I was reading this for the first time as I read it to you. I\u2019d read the headline and the first paragraph as part of show prep, and I put it somewhere in the stack, and I\u2019m reading this, and I\u2019m reading this, and suddenly in love with Bush 41 — he is, he\u2019s at work on a biography of George H. W. Bush. He just got access. Ho-ho-ho-ho-ho-ho-ho-ho. <\/p>\n

Well, let\u2019s go to the audio sound bites. Man, folks, not to pat myself on the back, I\u2019m telling you this to guide you in the future and to reassure you. I know these people. I know how they think. I know what they\u2019re gonna do before they know they\u2019re gonna do it. I know what they do before they do it. I know these people. Now I\u2019m being told that the Bush family is said to be cooperating with Meacham for his biography. So he needs to keep \u2019em happy. He-he-he-he-he-he-he. Bush 41, I\u2019ll bet the whole family is tickled pink. All of a sudden finally George H. W. Bush is getting credit for something, and look who\u2019s doing it, mainstream media. ‘See, Mr. Limbaugh, it just confirms our instincts, be nice to these people, and eventually –‘ I guarantee you. Man. I really did not know while reading this that he was writing a book on H. W. Bush. I saw that at the end of this piece in the slug line. Whew. Man, it\u2019s fun. It\u2019s fun being right like this. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Jon Meacham, the guy who left Newsweek and he\u2019s now an op-ed contributor of the New York Times. Who woulda thought that possible? Anyway, he\u2019s got a piece here: ‘No Deficit of Courage.\u2019 Now, this piece is amazing. This is very interesting. Stick with me on this. ‘IS it, in fact, 1994-95 all over […]<\/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,"footnotes":""},"categories":[],"tags":[],"class_list":["post-37039","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nMeacham: George H.W. 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