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What Recovery? Where Is It?

BEGIN TRANSCRIPT

RUSH: We'll start in Nassau County in New York and Rob.  Thank you so much for holding.  Really appreciate your patience.  Hi.

CALLER:  Hey, Rush, how are you?

RUSH:  Very good, sir.

CALLER:  Good, you know, we talked a few months ago about the crazy pension costs.  There was an article in the New York Times on February 28th that the state is gonna be borrowing from its own pension fund in some kind of underhanded scheme, and you put our conversation on your website. I was very gratified about that.  But tomorrow the jobs report is coming out, and I'm very upset how the media is calling this a recovery, 240,000 jobs.  And I'd like you to comment -- there was an article by this guy Edward Lazear from Stanford University saying that every month it's not so much that we created net 240 jobs; it's that there's a churn of four million jobs.  And that if you go to the JOLTS report on the Bureau of Labor Statistics, roughly 4.12 million people got a job last month but 3.88 million people lost a job, and of the jobs created, most of these jobs are like these low wage, home health aid, bartending jobs --

RUSH:  No, no, no, no, that only happens when there's a Republican in the White House, those kind of low wage hamburger flipper jobs.  No, no.  These are quality, really good, like green energy jobs.  These are shovel-ready jobs. Teachers shoveling garbage down students' throats, these are really, really good jobs.  That's what the regime will tell you.

CALLER:  Yeah.  Well, I was wondering, you know, if you divide out those numbers by every county and then towns, like I live in Nassau County, they are 134 towns.  When you bring it down to a ground level basis, you take a town like, you know, Baldwin, Long Island, it's like 9.7 people got a job, but 9.4 people lost a job, and that's why the article title was called "Why Recovery Feels So Crummy" and I hope that people in America, especially these young kids with these huge crushing student loans, seeing how these policies are contracting the economy, realize how this jobs number is created.

RUSH:  Well, that may be a little bit intricate.  What we have to count on is that while the regime's out there touting this really robust recovery, people aren't living it.  They say, "What recovery?  Where is it?  Where are all these new jobs?"  And I just remind you that Stanley Greenberg, big-time Democrat pollster, last week, big story, after polling a number of Americans, warned Obama, don't try to run for reelection on this robust economic recovery by telling everybody it exists because they're not living it and it's not gonna work. People don't buy it.  Young people, that's a different thing.  The real question about young people is how many of them want to work versus how many of them think they ought to be taken care of.  That's an unknown question. 

When I was the age of the people you're talking about I couldn't wait to get out of the house. I couldn't wait to make my own mark. I couldn't wait to get on my own.  Staying home, even during college, I dreamed of having my own apartment, my own freedom, going here and there whenever I want, earning my own money.  And I think there's still a significant amount of that, but the expectations that young people have today are far different than the expectations that you and I had.  I, for example, growing up, I had people tell me this, "They aren't gonna let you make any money 'til you're 40."  "What do you mean, 'they'?"  "Just the system.  You're gonna have to be out in the workforce.  You're gonna have to show a bunch of characteristics, stability, accomplishment, achievement.  Nobody's gonna pay you any real money 'til you're 40." 

Well, now that's not applicable.  Not with instant money on Wall Street, hedge funds, the examples of the Facebook guy, Zuckerberg, people's expectations, young people's expectations are much higher.  And at the same time people's expectations are down in the gutter because the economy is so bad.  So it's a mix; it's a hodgepodge.  I think the bottom line is the more Obama talks about a robust economic recovery, the more people are scratching their heads because they're living it, and they don't see it.  It isn't happening.

BREAK TRANSCRIPT

RUSH:  No matter how you slice it, ladies and gentlemen, there are two million fewer jobs in this country since Obama took office, two million fewer jobs that you can get, two million fewer jobs to be filled.  And that number is from place called PolitiFact, which is the fact checkers at the Atlanta "Urinal Constipation," two million fewer jobs since the regime came to power.

END TRANSCRIPT

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