RUSH: I want to go back to me on this program December 20th on this program, remember this.
RUSH ARCHIVE: I have warned you this kind of thing is going to happen, the unemployment number is going to precipitously drop and it's going to get close to 8% by next November. Just mark my words: That's in the can; it's in the cards. I'm just telling you that the unemployment number is gonna get down to close to 8%, however they have to do it. If they have to reduce the overall universe of jobs -- which they have been doing. For example, if the same number of people were looking for work today as were looking for work when Obama was immaculated, the unemployment rate would be 11%; and now what is it, 8.9%? And that's because they have simply wiped out two million plus jobs -- and they have wiped out accordingly two million-plus people who are no longer looking. The job market has just shrunk. Therefore, the number of people out of work as a percentage of available jobs, obviously that number is gonna come down. So that's gonna happen.
RUSH: That was all part of a warning I gave you to get ready getting into this year now, 2012, and the economic news is all going to be reported as great and good; that Obama's policies are finally taking root now. "The economy was so much worse than anybody knew! Bush, Cheney had lied to the Obama transition team." This is the story. "They had not been honest and forthcoming with just how rotten the economy was, so Obama didn't deal appropriately. His policies were not powerful enough, but now they've been in place long enough and they're finally starting to take hold." This is going to lead into the argument that we shouldn't change horses in the middle of the stream, and so right off the bat -- as predictable as the sun coming up -- here is this from the AP.
Christopher Rugaber: "The number of people seeking unemployment benefits fell further last week, ending the year on a three-month run of declines that point to stronger hiring in 2012." Weekly applications dropped by 15,000..." CNBC has a story about this over-the-top how wonderful this is. We are back, folks! We're back! Now, the question we all need to ask ourselves is this: What did Obama do to create these jobs? What Obama policy? We know what Reagan did. We know what the Reagan policies of the eighties did. What has Obama done? What Obama policies have been put into place recently to create all these jobs?
The answer is "nothing," and the answer is that we are still in horrible shape in the job market because we have reduced the universe of available jobs, and in typical AP fashion they neglect to mention that last week's new unemployment claims number was actually up by a whopping 21,000. Last week, holiday week, nobody pays much attention. Do you know that application for unemployment went up by 21,000? It's not a three-week run, it's not a three-month run. That terrible news got practically no attention last week since it was reported over the Christmas holidays. So it's all smoke and mirrors, exactly as predicted. Dishonesty on parade from the State-Controlled Media.
RUSH: This is Investorplace.com, but it's news from ADP, you know, Automatic Data Processing, payroll people. And they're out there with a totally different story than the unemployment news today from AP and elsewhere. And so is, by the way, Gallup. Gallup is still saying the real unemployment number is up around 17, 18% by the time you factor in people who have given up looking. There isn't any improvement. You ask what has Obama done to improve the economy. The only thing I can think of is extending the Bush tax cuts over a year ago. It's about the only thing Obama has done that might be indicative of any job creation.
None of his policies have created jobs. His policies have destroyed jobs. Yeah, nobody in the media ever credits the Bush tax cuts for lowering unemployment. If it's been lowered. But, look, "Wall Street seemed upbeat today thanks to positive jobs numbers in a private-sector payroll report from ADP. Specifically, jobs increased 325,000 in December, led by the service sector and small businesses. Additionally, November’s employment numbers were revised slightly higher. But lest you think everything is coming up roses, keep in mind that many big corporations in America still are reluctant to hire. In fact, they are continuing to cut back, based on recent headlines." There's PepsiCo, Boeing, the list goes on and on. Lockheed Martin, Kodak filing Chapter 11. The idea here that jobs are being created is absurd. As you drive around your town you see boarded up, closed up elements, storefronts, whatever.
But I wanted to remind you, this is an election year and there is no news. The fact that the media does news is a misnomer. The media is an arm of the Democrat Party of the Obama administration. They have an agenda and the whole point here is to spread propaganda now. I was talking to a friend about this last night. They said, "Rush, it isn't gonna work." I said, "Don't tell me it isn't gonna work." Can I take you back to 2006, 2007 when unemployment was 5% and they had people convinced that we were in a recession. You heard people call this program, I asked them, "How you doing?" "Oh, I'm doing great but my neighbor is not doing well." "How do you know?" "Well, I hear it on the news." We had people in 2005, 2006 feeling guilty about how they were doing economically because they heard on the news that there was a recession, people were losing their jobs. They didn't see it, they heard about it.
So unemployment, 5%. The media tells us we're heading toward a recession. This was bombarded with part of the Iraq war news, with all the casualties and the deaths and the criminal aspects of the war. It was a constant, never-ending drumbeat against the Bush administration, against the country. And so, yeah, if the regime comes along and if all the news media reports all these jobs being created, whether you see it or not, you're gonna believe it just like you believed your neighbor was hurting when you didn't know it. So they can have an effect. Now, it's gonna be tougher because people are living this downturn, they're living their unemployment. But even the unemployed, if they hear a never-ending drumbeat that jobs are being created and people are being hired, they're gonna say, "Well, my turn's right around the corner." I'm just warning you, be prepared for it. It's gonna come, and I don't want to get any calls in June, "Rush, what are we gonna do about all this crap in the media?" 'Cause I'm gonna say to you, "I warned you six months ago."