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It's Payback Time: The Obama Economy is Purposeful Disaster

BEGIN TRANSCRIPT

RUSH: At Andrews Air Force Base today, President Obama cast his state of the economy in upbeat terms and we're working right now on an audio sound bite from last November of me reacting to Obama, basically saying identically word-for-word what he said today about the economy. It's pretty illustrative. "To every American who's looking for work, I promise you we're going to keep on doing everything we can. I'll do everything in my power to help our economy create jobs and opportunities for all people."

So he's talking to you personally, whatever you are, wherever you are. Then Pelosi's out there saying the best job creation job we've got is unemployment benefits. It doesn't make sense. It doesn't make sense in any way, shape, manner, or form but that's what she's out there saying. You know, we got the jobs number today. Unemployment fell from 9.7% to 9.5%, but the reason is that 652,000 people dropped out of the workforce. So there's a smaller universe of people who are counted; 652,000 people dropped out. They're not even looking for work anymore. It is a disaster. It is an unmitigated disaster, the employment circumstances and the economy overall. The numbers are all bent. They're rigged and spun.

The keystone, I think, is to look at this year to year, from last June to this June. U3 is the official unemployment rate. U6 is where they count those 652,000 (heh, heh) who have given up work as unemployed. That's what takes the real unemployment rate up to around 18%. But the reported unemployment rate June of 2010 is 9.5%. The official unemployment rate in June of 2009 was 9.5%. U6, the real unemployment rate, in June 2010 is 16.5%. In June 2009 it was 16.5%. You will hear more spinners telling you how good or bad the figures are but the essential reality is that from last June to this June, a one-year arc of the almost trillion-dollar spending, there hasn't been any change. The bottom line is zero change. Probably it's gotten worse because of all the people who have dropped out no longer working are even looking for work.

You know, I think we need to change the terms. They call this "U3" and "U6" for unemployment three, unemployment six. The government needs to change the titles. "FU3" and "FU6" because this is essentially what they have done to us. The FU3 unemployment rate. And the worst unemployment news is not even in the report. You know what the worst unemployment news is? Obama is still employed! Geithner is still employed. Bite Me is still employed. That's what's wrong with the unemployment numbers. Obama is not among them. Vice President Bite Me is not among them. Pelosi is not among them. Dingy Harry is not among the unemployed (but that will happen soon). Geithner is not among them.

Everybody's talking about what a surprise it was to see these numbers go down like this. No. In fact, the Drive-Bys are not even trying to spin this in a positive way. They know they can't. They're not trying to say, "This is a fizzling recovery. We're putting a little dent in it here." The fastest way to create jobs, as I just said, is to get rid of Democrats in November. It's to add their names to the unemployment rolls.

BREAK TRANSCRIPT

RUSH: I made a mental note to myself last night to come in here and reiterate something that was on the program yesterday: Megyn Kelly's interview with J. Christian Adams, the Department of Justice whistleblower. One of the things that this guy... By the way, Snerdley, everybody talking about Pelosi and she's stupid or not, you have to understand: What the Democrats are trying to do is create a permanent underclass. Now, we've mentioned this I don't know how many times -- and they've done it. They're creating a perpetual underclass. Not middle class, but a perpetual underclass enslaved to the Democrat Party, and you have to do that with permanent unemployment benefits, just like the Europeans did. So she may be stupid in how she's selling it, but she fully intends what is happening to happen.

It's no different than why do they want all these illegal aliens, "undocumented Democrats," to become documented. It's all about elections, all about votes, all about power. It's not about empowering people. It's not about compassion and helping people. Many people ask me -- and John Podhoretz raises the question today in a piece in the New York Post -- Who is Obama? Why is he doing this? Why? Why is he doing it? Is he stupid? Is it an accident? Is he doing it on purpose or what have you? Podhoretz says it doesn't matter really, because we're a resilient people. We come back. That was his point. Things have been worse and we've rebounded. I do think that's true, but I think we face something we've never faced before in the country -- and that is, we're now governed by people who do not like the country, who do not have the same reverence for it that we do. Our greatest threat (and this is saying something) is internal.

We have plenty of external threats, enemies across oceans, but we have a threat inside as well. This is something that I've never felt. I never feel that we had a president actually governing against the country, against the will of the people. I know we've had liberals. Clinton and Hillary were, and are. They're pedal-to-the-metal liberals. But they didn't want to destroy things. This bunch does, and they make no bones about it -- and when destruction does happen, they don't lift a finger to fix it. So in this interview with J. Christian Adams yesterday talking about (he's a whistleblower who said the charges were demanded to be dropped, that he and his line attorneys were told to just drop the case against the New Black Panthers for voter intimidation in Philadelphia) he said that there were people in the office, DOJ, who said, "Well, you know, those people suffered the indignity of slavery, discrimination, segregation and so forth."

He said somebody else said, "This is payback," meaning, "All right, look. We don't care if it's the New Black Panthers or whoever it is. Black people in this country have never, ever had a fair shake. This is payback. O.J. Simpson was payback. How does it feel?" That word "payback" is not mine. It was J. Christian Adams quoting some people in the Department of Justice. It is exactly how I think Obama looks at the country: It's payback time. I think that he's been raised, educated, and believes on his own that this country has been (as you know) immoral and unjust. It has stolen. It's unfairly large; it's an unjustifiable superpower. We have become as large as we are not because of any uniqueness or exceptionalism or greatness but because we've simply discriminated against the real people that made the country work, all the minorities. People around the world, we've stolen their resources, and now it's payback time. That's what we're getting. J. Christian Adams had somebody in Obama's DOJ who said that regarding the dropping of charges against the New Black Panther Party in the voter intimidation case in Philadelphia. So don't doubt me. There's no question that payback is what this administration is all about, presiding over the decline of the United States of America, and doing so happily. Let's go to the audio sound bites. November 2nd, 2009, a segment from this program.

OBAMA NOVEMBER 2, 2009: (camera shutters clicking throughout) [H]ow do we get what I call a post-bubble growth model, uh, one that is sustainable. That's what we're going to be discussing here today. Uh, as I said, we've got experts from, uh, a wide range of business sectors, and what we're going to talk about is, are there mechanisms that we can, uh, start putting in place, uh, where we -- we see the kind of growth that used to characterize the U.S. economy --

RUSH: This is unbelievable.

OBAMA NOVEMBER 2, 2009: -- export-driven growth, manufacturing growth, a growth that pays high wages and provides, uhh, high living standards for a broad-based middle class. [snip] But we're also in an era of fiscal constraint, which means that we've got to start finding more creative, new approaches to financing these projects.

RUSH: Ugh.

OBAMA NOVEMBER 2, 2009: So those are the discussions we're going to be having. Uh, not just today but, uh, in the weeks and months to come. This is my administration's overriding focus. Having, uh, brought the economy back from the brink, the question is: How are we going to make sure that people are getting back to work, uh, and able to support their families. It's not going to happen overnight, but we will not rest until, uh, we are succeeding in generating the jobs that this economy needs.

RUSH: Barack Obama, November 2, 2009, nine months ago, roughly. Eight or nine months ago. These were the day meetings, these little seminars in the East Room. He was gonna send all these various experts to their work groups and they were gonna report back to him later in the day, and he said, "What we're gonna talk about is, are there mechanisms that we can, uh, start putting in place where, uh, we see the kind of growth that used to characterize the US economy?" I guess when the work groups came back, they reported that there's no way, because just last week Tim Geithner in the G-Whiz meetings, said, the days of the US leading and being the engine of economic growth, those days are behind us. And Obama said the same thing. The kind of growth that we've had leading the world? No, no, we're not going to have that. Biden: We've lost eight million jobs; we're not going to be able to replace all those. Eight months ago, Obama said: "We need to see the kind of growth that used to characterize the US economy." So they are acknowledging a decline and telling us to be prepared for it. There's more of this, too.

BREAK TRANSCRIPT

RUSH: All right, here's what I want to do. I'm gonna go back. I'm going to play audio sound bite number 26 again. It's Obama, November 2nd, 2009. He's in the East Room, and he's about to send the seminar people into their various study groups to report back to him later on on creating jobs to get the economy going. This is long after the stimulus bill has been passed and implemented, and after we do that we're going to let you hear a little bit of Obama from this morning at Andrews Air Force Base as he was heading to Robert Byrd's funeral. So that means he was going to West Virginia. Okay. Fine. Well, here's Obama, November 2nd, 2009 again. It's about a minute and 20 seconds.

OBAMA NOVEMBER 2, 2009: (camera shutters clicking throughout) [H]ow do we get what I call a post-bubble growth model, uh, one that is sustainable. That's what we're going to be discussing here today. Uh, as I said, we've got experts from, uh, a wide range of business sectors, and what we're going to talk about is, are there mechanisms that we can, uh, start putting in place, uh, where we -- we see the kind of growth that used to characterize the U.S. economy --

RUSH: This is unbelievable.

OBAMA NOVEMBER 2, 2009: -- export-driven growth, manufacturing growth, a growth that pays high wages and provides, uhh, high living standards for a broad-based middle class. [snip] But we're also in an era of fiscal constraint, which means that we've got to start finding more creative, new approaches to financing these projects.

RUSH: Ugh.

OBAMA NOVEMBER 2, 2009: So those are the discussions we're going to be having. Uh, not just today but, uh, in the weeks and months to come. This is my administration's overriding focus. Having, uh, brought the economy back from the brink, the question is: How are we going to make sure that people are getting back to work, uh, and able to support their families. It's not going to happen overnight, but we will not rest until, uh, we are succeeding in generating the jobs that this economy needs.

RUSH: Okay, that's November 2nd, 2009. This morning, Andrews Air Force Base, speaking about the June unemployment numbers...

OBAMA TODAY: Now, make no mistake. We are headed in the right direction! But as I was reminded on a trip to Racine, Wisconsin, earlier this week: We're not headed there fast enough for a lot of Americans. We're not headed there fast enough for me, either. The recession dug us a hole of about eight million jobs deep and we continue to fight headwinds from volatile global markets. That's why we're continuing a relentless effort across multiple fronts to keep this recovery moving.

RUSH: Same stuff. Same thing. We're coming back from the brink, get "this recovery" moving. November 2, 2009 to this morning, second sound bite from today...

OBAMA TODAY: The Department(s) of Commerce and Agriculture will invest in 66 new projects across America that will finally believe reliable broadband Internet service to communities that currently have little or no access. In the short term, we expect these projects to create about 5,000 construction and installation jobs around the country.

RUSH: Well, good. How many jobs was the stimulus package supposed to create by now, and it hasn't created any. So high speed broadband. Big whoop! This is like taking rural telephone service out to the country in the 1920s and thirties. How have "global markets" changed to produce "headwinds" that stop us from creating jobs? What the hell does one have to do with the other? So it's either blame Bush or blame the global markets. Here's another sound bite of Obama from this morning.

OBAMA TODAY: T'every American who is looking for work, I promise you we are gonna keep on doing everything that we can, I will do everything in my power to help our economy create jobs and opportunity for all people.

RUSH: He's been saying this since he was immaculated. It's the same speech, it's the same promise, and it's never, ever resulted in anything. We are declining. We have a president presiding over that decline. He's going to do everything in his power to help our economy create jobs? You mean like shutting down offshore drilling in the Gulf of Mexico and Alaska that's going to wipe out a hundred thousand jobs? Is that what you mean? You mean all the other regulations that you are placing on other areas of business that are going to result in a loss of jobs? You mean all the tax increases that are coming in January that are causing businesses to not hire now because they don't really know what the impact is going to be until those taxes hit? It's just the exact opposite. This man has not lifted a finger to create any private sector jobs, and the dirty little secret is he doesn't intend to.

Why aren't we growing jobs in this country like we used to? Why aren't we? It's not hard to do. There's all kinds of textbook evidence, real-life historical evidence of how to do it. We're not doing it; we're not doing it on purpose. It's payback time. All the people who are unemployed? It's time for you to find out what it's like to be an American all these 200 years. "Yeah, greatest country on earth, superpower? Right. Well, might have been for some people, but you're going to find out what it's been like for 200 years for some of us to be an American. It's payback time." That's what's going on here.

BREAK TRANSCRIPT

RUSH: This is from the Huffing and Puffington Post. They actually posted it yesterday, 'cause this is July 2nd. So it was yesterday afternoon. It's by Laura Bassett. "Expired Unemployment Benefits Causing Panic, Desperation: 'I'm Drowning Fast' -- Debra Rousey of Gainesville, Georgia, says that she received an unemployment check of $194 last week, half the usual amount she receives, along with a letter announcing that this check would be her last. She is now in a complete panic over what to do next. 'I'm desperate and devastated,' she told HuffPost. 'I didn't get any warning. I was barely making ends meet on $330 a week, trying to diaper my grandchild and put food on the table for the four people I support.'" Do any of them work, Debra? I'm just asking.

"'What do I do now? How am I going to make rent next month? I keep thinking, "If I end up in a cardboard box, can I find one big enough for everybody, or do I have to send my son to live with someone else?" ... I don't want a handout. But right now I'm at the breaking point. If I don't come up with cash quick, everything will be cut off within two weeks -- gas, electric, water. Five people will be displaced. How am I supposed to come up with the money?'" Look at this. Look. This is what Obama's doing to people. This is what Obama's doing to people. This is what Pelosi is doing to people. This woman does not sound to me like she wants to be on the receiving end of a welfare check or an unemployment check forever, but it sounds to me like she's been maneuvered into a circumstance where she thinks she's got no choice.

There are no new jobs being created. What is she supposed to do when her checks run out? I'm not making the case to extend unemployment benefits. I'm using this as an illustration. Even though she called the Huffing and Puffington Post or they called her. They're using this as an indictment of the Republicans and the Democrats for not extending unemployment benefits. This needs to be looked at in a different light. This is what the United States federal government has reduced people to. This woman doesn't apparently have any hope or consideration of going out finding a job -- and she's a grandmother. She's diapering her granddaughter and supporting four other people. Payback time. Payback time. This woman's going to find out what it was like, in Obama's view, for other Americans to live as they did in this unfair and immoral country for the 230 years we've been around.

END TRANSCRIPT

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