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Obama to Stock Market: Drop Dead

BEGIN TRANSCRIPT

RUSH: I said yesterday there was a CNN commentator out there who said over the weekend that he knows somebody that said Obama's speeches, they're like sex. They're better than sex. I can see how that's true. When Obama speaks, the American people get screwed. This morning in the Oval Office, Obama talking with Gordon Brown. Here is a portion of the conversation.

OBAMA: What I'm looking at is not the day-to-day gyrations of the stock market but the long-term, uh, ability for the United States and the entire world economy, uh, to regain its footing. Uh, and, y-y-you know, the stock market is sort of like a tracking poll in politics. It bobs up and down day to day, uh, and if you spend all your time worrying about that, you're probably going to get long-term strategy wrong.

RUSH: Did you hear that? He said it's a tracking poll! It's like a tracking poll in politics. It's going to bubble up and down; you can't pay attention to tracking polls. If it's a tracking poll, if that's what it is, you're in the tank, Mr. President. He's not concerned! Three trillion dollars of wealth has vanished since he was elected. The Dow Jones Industrial Average down around 3,000 points. He doesn't care! He just said we're not looking at it. Day-to-day gyrations? How-about-month-to-month declines. There are no day-to-day gyrations to speak of here. There is just a steady decline. Besides he's gotta worry about the long-term ability, the US and the world economy to regain its footing. The stock market happens to be where people who have skin in the game are located, and they're getting out. Here's another exchange Obama had with Gordon Brown.

OBAMA: What you're now seeing is profit and -- and earning ratios are -- are starting to to get to the point where buying stocks is a potentially good deal if you've got a long-term perspective on it. Uhhh, I think that consumer confidence, as they see the American, uh, Recovery and Reinvestment Act taking root, uh, businesses are starting to see opportunities for investment, uh, and potential hiring.

RUSH: Really?

OBAMA: It's not going to happen overnight.

RUSH: No.

OBAMA: And my main message to the American people --

RUSH: Yes?

OBAMA: -- is to just recognize that, um, we dug a very deep hole for ourselves. There were a lot of bad decisions that were made. We are cleaning up that mess. Uh, It's going to be, sort of, uh, full of fits and starts in terms of getting the mess cleaned up, but it's going to get cleaned up.

RUSH: This is Obama distancing himself from his own economy, distancing himself from the failure of his own recovery plan, and dumping it on the Bush administration. We inherited everything! He's going to get away with this for a while, with a lot of Americans. Let's go back, listen to David Axelrod February 12th, 2009, in an interview with the Washington Post.

AXELROD: Well, it can drive a White House.

WOMAN: (giggling) Not yours, huh? (giggling)

AXELROD: I'm not... It may not drive ours. We've tried to keep our heads about us, and, uhhh, pursue what we think is the appropriate strategy, and that's what we're going to do here.

RUSH: He was asked about the stock market and the daily drop, and he said, "Well, it can drive a White House. It may not drive ours. We don't care what's going in the stock market. That's not our plan."

END TRANSCRIPT

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