RUSH: From TheHill.com: "A pending legislative package to extend the payroll tax credit and unemployment insurance will create more jobs than the approval of the Keystone pipeline, Obama said yesterday. 'Here's what I know,' he said. 'However many jobs might be generated by the pipeline, they're going to be a lot fewer than the jobs created by extending the payroll tax cut and extending unemployment insurance.'" In fact, here's the president saying that. This was this morning, actually, in Washington talking about this.
OBAMA: I know that, eh -- the -- the suggestion right now is that somehow, "Well, this Keystone issue, uh, will create jobs." That's being determined by the State Department right now, and there is a process. But here's what I know. However many jobs might be generated by a Keystone pipeline, they're gonna be a lot fewer than the jobs that are created by extending the payroll tax cut and extending unemployment insurance.
RUSH: That's another lie. The Keystone creates pipeline 20,000 jobs immediately up to a half a million. Unemployment benefits create jobs? (laughing) Think of that. Unemployment benefits create jobs. What was it that Pelosi said the return was? For every dollar spent on unemployment benefits, the economy grows by a buck and a half or two dollars or whatever? I mean, it's absurd. It's literally absurd. Unemployment benefits? Where are all the jobs created? We've had the payroll tax holiday for a year. There aren't any new jobs being created.
The unemployment number is getting smaller because the universe of jobs is if we go to smaller. They're just simply shrinking it. But I mean the answer to this is, "Mr. President, do both! If you're focused like a laser on jobs, do both. What is this straw man you continue to construct? What is this either on? Why not do both! We need jobs; you say you're laser focused on jobs; you understand people want to work. Why not do both, Mr. President?" and it's like I said yesterday, the pipeline project brings campaign contributions from both sides of the issue: The environmentalist wackos and the oil interests. They are both sending money to Obama hoping he decides in their favor. If he decides now, he cuts off half of that money -- and everything he's doing is about his reelection and nothing else.
RUSH: Check this story from the AP. "Americans' wealth last summer suffered its biggest quarterly..." In fact, this is a double whammer day for Obama, because the army has announced job cuts of 8700. Do you realize what a celebration is going on in the White House today? Eighty-seven hundred Army jobs in the Pentagon cut, buyouts, attrition, what have you, 8700 jobs cut! My God, how happy can Obama be? And then this news.
"Americans' wealth last summer suffered its biggest quarterly loss in more than two years, as stocks, pension funds, and home values lost value." The 1% got hurt. Those evil SOBs are finally having it stuck to 'em. "Household net worth fell 4% in the July-September quarter, according to a Federal Reserve report released yesterday. It was the sharpest drop since the tumultuous period after the September 2008 bankruptcy of investment bank Lehman Brothers." Speaking of that, how many of you went out and rented the movie Margin Call on my recommendations. Did you like it, did you watch it? Yeah, I should tell you this movie is patterned after Lehman Brothers, but Lehman Brothers was allowed to go belly up. They didn't bail it out. We don't know that that happens to this fictional firm in the movie Margin Call but it's loosely based on Lehman Brothers.
This is the AP here, folks, which has been on Obama's side. We gotta go after that 1%. We gotta stick it to 'em. We have got to roast them. The 1%, why, the rich, they're to blame for everything. By the way, could somebody tell me what tax cuts from Jimmy Carter caused the misery index to go sky high? What Jimmy Carter tax cuts caused that depression? Somebody tell me what tax cuts in Italy, Spain, and Greece caused the problems that they're in? What tax cuts? Well, there aren't any tax cuts in the Carter years, or in Italy, Spain, or Greece, but Obama is claiming the tax cuts -- George Bush tax cuts and any other tax cut that the rich have gotten -- are the reason we're in this economic mess. You know, the tax cuts did it. Lower net worth can hurt the economy, AP says? Whoa, whoa, whoa, I thought lower net worth was what we were after. I thought we were gonna soak it to 'em! I thought we were gonna make the rich pay, and now it's an Obama Christmas because the rich have lost some of their net worth.
I thought that was good news.
RUSH: Yep, it's a Democrat Christmas, the rich got poorer. But I thought that was good, I really thought that was the objective. The wealth gap shrunk, yeah, and the way Obama wants, the rich get poorer. Democrats never want to elevate people at the bottom, they just want to shrink it from the top. But then AP says here, I'm confused, "Lower net worth can hurt the economy." (gasping) You mean the rich getting poorer can hurt the economy? Let's read further. "When people feel poorer, they spend less." Oh, so the rich are feeling poorer because they are poorer. Okay, let's keep reading. "That slows growth." Really? "Lower net worth can hurt the economy." That's the thesis. "When people feel poorer they spend less. That slows growth." Oh, I see, that's exactly what Obama's after. That's what he's after, slower growth. AP just doesn't get it. Ah, okay. Okay. "Businesses typically then cut back on hiring."
So after three years of the State-Controlled Media following the regime's lead, attacking the rich, trying to support any policy that would take money away from them, now the rich are getting poorer, and all of a sudden AP is concerned because that slows growth, businesses typically cut back on hiring and expansion, people are spending less, so this is not good, according to the AP. It is perfect for Obama and the Democrats, I mean it is Christmas.
RUSH: Interesting little story here today from TheHill.com: "A Democratic lawmaker on Friday said President Obama might cave on his threat to veto an extension of the payroll tax cut if it’s tied to" the Keystone pipeline. You know who said it? Emanuel Cleaver, Democrat, Missouri, from Kansas City. I remember old Emanuel. I used to live there. Emanuel was something when I lived there. He might have been a member of Congress, might have been mayor, might have been something else, but I remember Emanuel Cleaver from those days; and he said, "I think [Obama] is serious, but at the end, it may be here's an opportunity to get a deal and get what I want and go home.
"Consider the fact that in previous debates like this, before the end of the summer, the president never said, 'I will veto [the pipeline deal],' so I don't know the strategy in the White House right now, but I've got to say that the president is serious, but I think in politics everybody understands you have to get the best deal you can." Now, what Cleaver is saying here... You want me to translate this? Cleaver is saying: "We want to get the hell outta here in time for Christmas and we're not gonna stay here, and I better not veto this pipeline thing if it means we have to stay here because we are not staying here for Christmas!"
That's all this means. What this means is this is Emanuel Cleaver telling Obama, "Look, pal, we are getting outta here. You say you can keep us here while Michelle and the girls are over in Hawaii? You say you can keep us here? Well, we're getting outta here, and the only way we're gonna get outta here is if that pipeline is part of this and I've looked and I've seen some openings for you, so I know that you might cave on this." That's what Emanuel Cleaver's saying here: Democrats want outta town; Democrats want to get home for Christmas.
Now, interestingly, "A Cleaver spokeswoman, Stephanie Young, contacted The Hill after Cleaver's appearance on MSNBC to say the congressman misspoke and that he 'does not and will not be supporting this bill.'" So what happened is, Emanuel Cleaver goes out there and basically says, "Look, Barry, we going home! We're gonna be home in time for Christmas. If that means that you include this pipeline in the tax cut, you do it; we're if we go to outta here." Somebody at the White House obviously read it, heard it, and called up Emanuel Cleaver. And whatever was said -- it might have had Andy Stern call him, maybe some union guy, maybe the goons that beat up the black guy in St. Louis, who knows -- they called up Emanuel Cleaver, and they said, "You really mean that, Manny? Really mean that?"
"Well, these threats."
"I didn't threaten anybody."
"Yes, you did. You threatened the president here."
So, anyway, now the Cleaver office has put out this message that, "Hey! Hey! The congressman, that's not what he said! He misspoke; you misunderstood. He doesn't support this bill. He doesn't support the pipeline. No, no, you got it wrong." Well, we have it right here. We got it, what he said. I just read it to you. Speaking Friday on MSNBC's Morning Joe, Cleaver said, "The president might walk back his veto threat. I think the president probably feels that throwing in the pipeline's not a good deal. I think the president's a good government president, but I think whether or not he'll delay the deal is another issue." So what happened was (I'm searching if we have that), 'cause Emanuel's fun to listen to. I'm looking at the sound bite roster.
Don't see it. Doesn't matter. Cookie, no big deal. The thing that obviously happened here is that Emanuel Cleaver was told, "Hey, your day pass to leave the plantation has just been revoked, and you keep talking like this, and you're never getting off it." He basically said: I think the president might walk back the veto threat 'cause we gonna get outta here at Christmastime. Yes. (laughing) You know what this tells me? The president does not have his people on this, and Dingy Harry can't get the votes for this and they run the Senate. Dingy Harry cannot, however he structures it, get the Democrat votes for this payroll tax cut extension. He cannot do it, even running the Senate. So Obama's party is not with him on this.
I'm telling you. I know you think that I'm cynical and I may be misreading things. When I tell you to follow the money, don't doubt me. Right now this pipeline is bringing money, campaign donations in on both sides, environmentalist wackos are donating; Big Oil is donating. If he okays the pipeline or turns it down officially, one of those streams dries up. If he okays the pipeline, then not only do the environmentalist wackos stop with the money; they get really, really mad. They run ads, and they're already feeling disrespected. This pipeline, if Obama is reelected, is going to be approved shortly after the next inauguration. If Obama is reelected. I don't care who's elected, this pipeline is gonna be approved. (interruption)
What was the question? Yeah, the unions are for the pipeline! The unions are for the pipeline. But he's already got them. He doesn't have to worry about the unions drying up. They have many things they're interested in. The pipeline just one of them. In fact, I am sure Obama has called Andy Stern and Trumka and the rest of these guys -- whose "the son-of-a-bitch"? -- Hoffa, brought them in there and said, "Look, just tell your guys put the guns down, put the axes down. It's gonna happen." (interruption) Well, he called us that. I did that on purpose. He called us sons-of-bitches. Snerdley is in there thinking, "You shoulda answered the other question." (laughing)
No. He called us that. I said that on purpose. He called us SOBs. It's Open Line Friday. We got 40 second delay, I can still delay it. Think I ought to delay it? Well, it's too late now. We've gone past the delay, can't delay it now. Now it's out there. Okay, it just went live. I said it 40 seconds ago, 45, just sent it live so I can't take it back. I'm sure he told the union guys, "Hey, hey, hey, hey, you're gonna get the pipeline. I just can't do it now. I need money coming in from both sides. No doubt whatsoever in my mind."