RUSH: It's the Summer of Recovery. How's that working out for you? Thirteen thousand, 13,000 private sector jobs added in June. If you divide 13,000 by 50, just for illustration purposes, you get 260 jobs created in the private sector per state. Two hundred sixty jobs per state. This is Herbert Hoover type stuff. Obama is Herbert Hoover, except Hoover wasn't trying to do it. Obama is. Great to have you, folks, Rush Limbaugh, fastest week in media, already Wednesday. Damn. 800-282-2882 if you want to be on the program. The e-mail address, ElRushbo@eibnet.com.
Obama is Herbert Hoover. You know they used to call those unemployment camps Hoovervilles. Well, now we're going to see Obamavilles springing up all across the nation. Thirteen thousand private sector jobs created last month. That means we only have 7,987,000 jobs to go until we reach where we were before, and that would total eight million except Vice President Bite Me said that we're never going to get those jobs back. And at this rate, this may be the first accurate thing that Vice President Bite Me has said in quite a while. That's why I say, Snerdley, Hoover was trying to fix things. Obama's not. The only difference is Obama is doing this on purpose. Hoover wasn't. The whole country is Obamaville. The whole country, Obamaville. Obama's America. The way to look at this is we have destroyed our economy to create 13,000 jobs in one month, 260 jobs per state. This is day nine of the Summer of Recovery. On day nine of the Summer of Recovery we get this news. Thirteen thousand jobs in June, 260 per state. And it's even less than that, if you divide it by 57, which is the number of states Obama said he visited during the campaign.
As I point out, this is being done on purpose. Now, according to Obama, this is progress, because we're not losing 700,000 jobs a month. Now, consider how stupid that is. We were never going to lose 700,000 jobs per month for years and years, because we don't have enough people working age to lose 700,000 jobs every month for years and years. So here we have the first president in history, to my knowledge, anyway, who actually wants his nation to fail. And, by the way, Wall Street Journal today, "Why Obamanomics Has Failed." Do you realize how cutting edge your host and this program was back on January 16th of 2009? "I hope he fails." "Why Obamanomics Has Failed." This is Allan Meltzer in the Wall Street Journal today. "Uncertainty about future taxes and regulations is enemy No. 1 of economic growth." Amen, right on, right on, right on. We're going to have massive tax increases hitting next January. People are still not sure how much it's going to cost them, particularly businesses. That's why there's no hiring. Thirteen thousand jobs in June. I took heat, and in some sectors, ladies and gentlemen, I'm still taking heat for saying I wanted Obama to fail. But I wanted him to fail because I want the nation to succeed. We now see that Obama succeeding does not equal the nation succeeding, and that is a major, major thing for people to have to come to grips with.
Remember when I said I hope he fails people said, "Oh, Limbaugh voting against the country; Limbaugh wants the country to fail." It was just the exact opposite. Obama succeeds, gets what he wants, what happens to you? What happens to your job, what happens to your taxes, what happens to your private sector? Obama is praised for wanting the nation to fail in order for him to succeed. Listen to this headline. This is a brilliant headline from Reuters: "Hiring By Private Companies Up Slightly In June." Up slightly, 13,000 jobs, 260 per state. The country is Obamaville and they say hiring by private countries is up slightly in June. Headline ought to be: "Obama Spent Us Into Bankruptcy For This? Thirteen Thousand Jobs A Month?" Now, you couple this with the consumer confidence number, I told you yesterday, the Drive-Bys, they're depressed as they can be, because it was supposed to be panacea, this was supposed to be utopia. Everything, 18 months in, liberalism unchecked, it wasn't going to be Detroit nationwide, it was going to be the Garden of Eden, it was going to be everybody who can't afford a house is in a house anyway so that it's fair. Everybody who wants a job is going to have a job, digging ditches or what have you. It isn't happening.
And now there's a disconnect between the American people and the president, and the Drive-Bys don't like that. Investor's Business Daily headline: "A Drop In Confidence? No Wonder! -- As the White House proclaims its 'recovery summer,' --" this is day nine, by the way "-- Americans are suddenly feeling pretty bad about things. Maybe it's because their can-do spirit has come face-to-face with a 'can't-do' government. Given the many serious problems faced by the U.S., the last thing we need is a government that runs up spending to unprecedented levels and then says, sorry, we can't fix anything. But that's exactly where we find ourselves today." After all of the spending, $1 trillion to destroy the private sector for 13,000 jobs, and there have been a couple of other stimulus package since then. For 13,000 jobs. We got Obama and Geithner saying, "No, no, no, no, the days of America being the engine of economic growth, no, no, no, those days are over." Vice President Bite Me, "Those eight million jobs, no, we're never going to be able to replace them." There's not one person in any position of leadership anywhere in this regime or the Democrat Party that speaks positively about this country, its past, or its future. Certainly not its present. We have a party happily, apparently, to be presiding over the nation's decline, which in fact may be one of the purposes.
"The 'can't dos' from our elected and appointed officials, both at the federal and state level, are piling up. Consider the following: 'I can't suck the oil up with a straw,' said President Obama when asked what he was doing about the BP spill that began April 20. Nor could he approve the building of sand berms, or the suspension of the Jones Act, which would have let foreign skimmers into U.S. waters to help with the oil cleanup. 'You're never going to totally seal that border,' said Janet Napolitano, making excuses for why Homeland Security has essentially ceded entire parts of Arizona to violent Mexican smuggling rings while still seeking 'comprehensive immigration reform,'" and suing the state of Arizona and joining boycotts, the federal government. That's really confidence inspiring.
"'I think the world understands now that growth in the future around the world cannot depend as much on the United States as it did in the past,' opined Treasury Secretary Tim Geithner in a defeatist interview with the BBC before the G-20 summit. 'There's no possibility to restore 8 million jobs lost in the Great Recession' was how Vice President Joe Biden put it at a fundraiser for Democratic Sen. Russ Feingold. But wasn't that the reason for the $862 billion stimulus package, the $700 billion in bailouts and the takeover of the auto industry and Wall Street?" Wasn't it to get back the eight million jobs that were lost? And now this inspiring regime says, "Ah, sorry, can't happen, can't close the border, not gonna lead the world, not sure we want to win in Afghanistan, screw the oil leak, and not going to get those eight million jobs back."
Steny Hoyer, House Majority Leader: "It isn't possible to debate and pass a realistic, long-term budget until we've considered the bipartisan commission's deficit-reduction plan." This is the can't-do administration. This is the won't-do administration. This is unparalleled. Never in my lifetime has there been an administration that is so filled daily with depression, negativism, can't-doism. There is nothing that is reflective of American exceptionalism, of the great American spirit represented anywhere in this regime. It's all malaise. And, meanwhile, Obama golfs and goes out and has burgers with Dmitry Medvedev, who probably has a little earpiece in, spies over in New Jersey reporting to him while he's chowing down on the burger. Even after Obama takes him to the burger joint, Medvedev comes back to the joint press conference and rips the burger joint. "Yeah, traditional American place, probably not very healthy, but very tasty." Mental midget, Dmitry Medvedev.
"On Tuesday, the Conference Board announced that the Consumer Confidence Index 'declined sharply' in June, erasing three months of gains. Its Expectations Index, which gauges how consumers view prospects, plunged 16%. All this confirmed our own IBD/TIPP Poll released earlier in the month. ... We can only guess, but consumers and investors are looking six months to a year off and see massive debt growth, higher taxes (the Bush tax cuts expire this year) and tepid economic and job growth. They are, to put it mildly, greatly disappointed." And there's not one word coming outta Washington from anybody in a leadership position which tells them it's going to be any different than how bad they are imagining it.
RUSH: Now, what happened to small businesses in the month of June? Small businesses, of course, Obama claims to be helping so much with all of his "tax cuts." Small businesses actually lost jobs. This is in May, according to ADP, from the report: "'Large businesses, defined as those with 500 or more [people], saw employment increase by 3,000 and employment among medium-size businesses, defined as those with between 50 and 499 workers increased by 11,000. Employment among small-size businesses, defined as those with fewer than 50 workers, decreased by 1,000 in June.'" But to be fair, Obama did prevent the swine flu from becoming a pandemic. We know that because Axelrod said it on The Daily Show the other night.
Of course... (interruption) Snerdley, I'm being facetious. That's the only thing he could say when asked, "What have you done right?"
"Well, we stopped the swine flu epidemic."
Los Angeles Times Business Section has an unbelievable headline: "With Federal Stimulus Funds Running Out, Economic Worries Grow." The subheadline is even more unbelievable: "Much of the $787-billion stimulus has been spent, creating jobs and extending jobless benefits. But with lawmakers reluctant to approve more funding, concerns are rising about staving off another recession." LA Times, there aren't any jobs. Two hundred and sixty jobs a month have been created in June, 260 per state. The $787 billion "stimulus" led to the loss of three million jobs, and there has not been "an end to this recession," and already they're talking about another one, "double-dip" or what have you. The Los Angeles Times is joining the chorus pushing for yet another stimulus.
When I was growing up, there was a song that captivated me. My mother listened to radio all the time in the summer, and that song was Sixteen Tons by Tennessee Ernie Ford. I suspect many of you have not heard this song. Listen to it...
TENNESSEE ERNIE FORD: Some people say a man is made outta mud. A poor man's made outta muscle and blood. Muscle and blood and skin and bones, A mind that's a-weak and a back that's strong. You load sixteen tons, what do you get? Another day older and deeper in debt. Saint Peter don't you call me 'cause I can't go. I owe my soul to the company stoooore.
RUSH: Exactly what happens when stimulus runs out.
TENNESSEE ERNIE FORD: I was born one mornin' when the sun didn't shine. I picked up my shovel and I walked to the mine. I loaded sixteen tons of number nine coal, and the straw boss said, "Well, a-bless my soul." You load sixteen tons, what do you get? Another day older and deeper in debt. Saint Peter don't you call me 'cause I can't go. I owe my soul to the company stoooore.
RUSH: That's where we are. The stimulus has run out, folks.
TENNESSEE ERNIE FORD: I was born one mornin', it was drizzlin' rain. Fightin' and Trouble are my middle name. I was raised in the canebrake by an ol' mama lion. Can't no-a high-toned woman make me walk the line. You load sixteen tons, what do you get? Another day older and deeper in debt. Saint Peter don't you call me 'cause I can't go. I owe my soul to the company stoooore.
RUSH: Right back to square one, but we're deeper in debt.
TENNESSEE ERNIE FORD: If you see me comin', better step aside. A lotta men didn't, a lotta men died. One fist of iron, the other of steel. If the right one don't a-get you, then the left one will. You load sixteen tons, what do you get? Another day older and deeper in debt. Saint Peter don't you call me 'cause I can't goooo. I oooooowe my soooooul ... to the company stoooore.
RUSH: "I owe my soul to the company store" refers to debt bondage, and that's what we have in spades. The stimulus funds are running out; economic worries grow. That's Tennessee Ernie Ford. I was seven or eight years old listening to that song on the radio. If you like to put a face to a name (just off the top of my head), if you know what the owner of the Atlanta Falcons looks like, Arthur Blank, there's a similar resemblance to Tennessee Ernie Ford. "I owe my soul to the company store." "With home sales sliding, employers reluctant to hire, world stock markets gyrating wildly, the US economy is in danger of stalling." Stalling? Continuing its...? We're plummeting, for crying out loud!
"Now one of its own reliable sources of fuel is running out: federal stimulus money." Here we go. The LA Times is begging for another stimulus. That's the point this story. "Funds flowing from the [Porkulus] bill passed last year have helped create hundreds of thousands of jobs..." Who wrote this? Alana Semuels of the Los Angeles Times. "[C]reate thousands of job and propped up social programs, such as unemployment benefits. But with much of that money spent, and lawmakers reluctant to approve another big round of spending, concerns are rising about what will replace it in the short-term to keep the economy going." Not one word here about the private sector.
And the New York Times! This is why the New York Times is nothing more than overpriced bird cage liner now. A1, New York Times: "Bet on Private Sector for Recovery Could Prove Risky." That's the headline. It's the June 30th edition of New York Times front page. This sums up the thinking in the story: Keynesian government spending should be encouraged until the country becomes Greece, then it should stop. Tax hikes raise revenue. Spending cuts prevent economic growth. Tax cuts are not an option. The guy who writes this story never mentions them in his front page economic think piece in the New York Times. David Leonhardt (or Li-enhart, I'm not sure how he pronounces his name), but there you have it. "Bet on Private Sector for Recovery Could Prove Risky." Mr. Leonhardt, Leonhardt, however you spell or pronounce your name, the only hope we've got, the only salvation we've got is to revive the private sector. (sigh) That's the only place there has ever been genuine economic growth!
RUSH: Doing the work that at least 15 mainstream media newsrooms -- the work they used to do, anyway -- I am Rush Limbaugh, your guiding light.
You want to know the dirty little secret about the stimulus? Only 43% of it has been spent. According to the website Stimulus Speed Chart, it's Projects Propublica, as of June 18th they've only spent 43% of the stimulus -- and this was known going in. All these stories about we're outta stimulus money? No, no, no. We're out of stimulus money for YOU. We are not out of stimulus money for Democrats and their reelection campaigns because the stimulus bill was nothing but a giant slush fund. It was always the plan, that much of the Porkulus bill would not be spent until 2011. Some of it this year. But 2011, closer to Obama's reelection campaign -- and we were told a lot of contradictory things. We were also told that last year, "Ah, you gotta wait. You gotta wait 'til midsummer 2010. That's when the stimulus is gonna really kick in."
From Bloomberg back in January 2009, "A Congressional Budget Office analysis of President Barack Obama's plan found that most of the approximately $355 billion in proposed discretionary spending on highways, renewable energy and other initiatives wouldn't be spent before 2011. The government would spend about $26 billion of the money this year and $110 billion more [in 2010], the report said." CBO says, Bloomberg again, "Much of Stimulus Won't Be Spent Before 2011." Only 43% of it has been spent. That makes it even worse, folks! None of it has been spent on jobs. There haven't been any jobs created with this. We've got 260 jobs per state in June. By the way, Pro Publica, the source for "43% of the stimulus has been spent" is a left-wing site.
Now, the best thing Obama could do to help the economy is to not spend the rest of the stimulus. Let that money stay in the private sector where it would grow real jobs. But they won't even think of that. He has to protect the unions and the rest of his foot soldiers. He has to save his job. So this is a slush fund. It's going to be spent for him, for his supporters, for Democrats in campaigns this year, and in 2011, for Mr. Obama. And this New York Times story today... I kid you not. Here's a quick excerpt. "Bet on Private Sector for Recovery Could Prove Risky ... So it's easy to confuse its condition (bad) with its direction (better) and to lose sight of how much worse it could be. The unyielding criticism from those who opposed stimulus from the get-go -- laissez-faire economists, Congressional Republicans, German leaders -- plays a role, too. They're able to shout louder than the data."
This is the problem. It's not just economic illiteracy, it isn't just a total lack of critical thinking. This reporter is reporting liberal propaganda. He is incapable of looking at the results of failed liberal policies and drawing logical conclusions 'cause he's a partisan tool. According to the author, Mr. Leonhardt, or "Lien-hart," (I don't know how he pronounces it) out-of-control spending and debt accumulation resuscitate dying economies that failed due to out-of-control spending and debt accumulation. This story is senseless. It is deranged. It is delusional. "Bet on Private Sector for Recovery Could Prove Risky"? What that means is: You're too stupid, you can't be counted on. The government has to make these decisions. The government has to spend this money because you're too idiotic to know what to do.