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The Coming Liberal Economic Spin

BEGIN TRANSCRIPT

RUSH: Look, ladies and gentlemen, we now know what the tax cuts are going to add up to for those of you who get them.

What is it, $13 a month? Yeah, $13 a week , $13 more. So what, four times thirteen? Fifty-two bucks a month, $52 a month which ought to buy some more cat food or dog food. It's $52 a month starting in June -- and next January, about a year from now, they'll cut back to $32 a month, $8 a week. That's what the tax cut is in the stimulus bill. Now, still they're not going to vote on it in the House until tomorrow because there's this big fight that broke out between Pelosi and Reid. Now, I have to tell you something. I thought something was up yesterday. I just didn't put two and two together, but when Harry Reid -- we were watching this yesterday before the program ended, Dingy Harry walks out there with the Republican turncoats.

And, by the way, folks, I know you're mad at Specter and you're mad at Susan Collins and you're mad at Olympia Snowe, but don't be. There's no sense wasting energy getting mad when people do what you know they're going to do. We predicted to you before they even settled the Franken-Coleman race that this whole notion of, do the Democrats have 58 or 59 is irrelevant because they've got Olympia Snowe, they've got Susan Collins, and they've got Specter and there are a couple of other RINOs in there that might flip-flop and go Democrat. So it's a waste of time to get mad over actions that people take that are not surprising. See, I try to find the good in everything. These people now have been exposed, for once and for all, and there was a huge cleaning of RINO Republicans. One of the reasons that we lost seats in the House was we got rid of bunch of these people like Christopher Shays.

That has led the Republican Party, you know, to wring its hands and whine and moan about, "Remember the Northeast. We must have Republican representatives from the Northeast." No, we don't, not if they're going to be liberals, not if they're going to be moderates, they may as well not even be Republicans. If there aren't any conservatives in the Northeast that can get elected, then fine. We don't need Republicans in name only. So one of the reasons that we're where we are is that the party flushed a bunch of RINOs. There are other reasons, of course, but this is part of the cleansing process that's necessary here in putting things back together when we get our chance. Now, there was a giant surprise today among media economists and other economists.

They were expecting retail sales to drop 0.8%. But shazam! Retail sales went up 1%, and Snerdley came in here, and he was popping his buttons, and he was all excited. He said, "See? The market's taking care of this on its own. The market's rebounding. We may have bottomed out already. We don't need the stimulus plan." I said, "Snerdley, hold on. You're getting caught up in the reality of events, and with the Drive-By Media, we are not allowed to live in the reality. We live in an alternate reality, which is presented for us by the Obama administration and then amplified by the media." So I'm going to make a prediction to you, the way this news is going to be reported: Retail sales up a surprising 1%. How can this be, in a recession when so many people are losing their jobs?

One reason, one real reason is that the plummeting price of gasoline since last summer has probably added at least -- what, a hundred dollars a month or maybe more -- to people's disposable income. That's one reason, but here's what's going to be said. Here's what's going to be said. Well, once they get over the shock. You know, they were hoping for more bad news. Now they're going to have to do a quick 180 here and explain this slight bump up of 1% in retail sales activity. "Well, of course, Mr. Limbaugh! Why, the stimulus bills of all of 2008 -- George Bush's first package; and then the second stimulus package; and then the TARP money, $350 billion -- all of that is starting to play out now, proving that government stimulus works, proving that Keynesian theory works."

Then, after they give credit to things that have had no impact on this, they will then say, "Obviously the public's mood is improving. The public is happier. Obama has been inaugurated. Obama is now in charge. Obama inspiring confidence in the American people once again," even though it's all BS, 'cause every time Obama opens his pie hole, all he does is try to depress people even further by talking about how the catastrophe is right around the corner. It's worse than we even thought. It's gonna get worse than we even know, and even with my stimulus it's going to get worse before it gets better, but they're going to say all these things, just that 1% bump. This is all about crediting Obama. You know this is going to have... Nobody's going to say, "Hey, get out of this! The market, on its own, is fixing this."

It isn't going to happen. You shoulda seen Snerdley hang dog walking out of my office. His head was down depressed and so forth. I don't know if you were depressed over the fact that you didn't come up with this on your own, which you should have, or if you were just depressed at the solid reasoning that I presented to you. Yeah, you can't... Folks, the key to getting along here, the key to maintaining your sanity in this current era is not getting stuck on reality. Because if you persist in living in reality, and then you're going to turn on the Drive-Bys, and you're going to hear an alternate reality, you are going to go nuts. It's best to anticipate how they're going to play this and laugh at it. (interruption) The real estate market is coming back. I'm not denying any of this! I'm not denying the 1% bump. Real estate market's coming back. Of course the real estate market's coming back. Mr. Obama is now in office!

He is serving. He is inspiring people. He has stabilized. The situation was in flux because of that rotten, horrible George W. Bush, and besides that, the housing bubble brought on by the Bush administration finally burst, and there are much lower housing prices out there for people who want to be first-time home buyers. This can be spun any which way you want, Snerdley, but it will be spun so that it's all due to Obama and government. What makes you think anybody else would say anything different, in this climate, and given who populates Washington, DC, today?

END TRANSCRIPT

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