RUSH: Speaking earlier about the Obama economy and the war on women and the fact the American economy is in decline and Obama wants you to believe it's in decline because of capitalism, Obama and the Democrat Party want you to think our economy is in decline because of its own structural failures and inabilities. They want you to believe that five dollar gasoline is what you get with an economy where everybody's out there fending for themselves. When there's nobody looking out for people, when there's nobody with compassion, when there's nobody guaranteeing fairness, this is what happens. And of course the US economy is in decline only because it's in the shackles of socialism, and it's going to get worse. There's nothing wrong with this economy. It's absurd to even make the point.
But here from the Los Angeles Times: "Higher Gas Prices Cause Less Public Anger this Time." Oh, yes. "Several factors are behind the relative complacency now compared with the price surge of 2008, analysts say. Gas prices have soared about 15% in the last six months, hitting $3.94 a gallon on average nationwide, and $4.29 in California. The mood of motorists? Partisan finger-pointing aside, polls suggest that most people aren't as worked up over gas prices as they were four years ago. ... 'I think we all have adjusted,' said Lara Clayton of Los Alamitos as she spent nearly $60 recently to fill up her 2008 Lincoln Town Car at a Seal Beach 76 station. 'We just don't drive as much and we are careful to combine errands.'"
Yeah. Yeah. No big deal. Relative complacency. Until you read the rest of the article. When you read the rest of the article you find out people are not complacent about this. They did find people unhappy with this. "Sixty-three percent say gasoline prices have caused financial hardship." This is classic. This is unbelievable journalism. This is worthy of NBC. This LA Times story is worthy of NBC. There is no problem with gas prices. You don't care. You have come to accept it. You are now driving with more efficiency in mind. You are combining your errands. It really isn't that big a deal to you anymore, except for 63% of people in the poll who say that it is causing financial hardship.
How do you write this story? How do you write higher gas prices cause less public anger, relative complacency, in a story that has a poll saying 63% say gas prices have caused financial hardship. So we're left to assume that there's complacency with financial hardship. I guess that's what the story means. Ah, no big deal, financial hardship? That's just the way it is now. We're combining our hardships into fewer hardships so that our hardships are more efficient. And we deal with our hardships as one big bundle rather than a bunch of separate ones so the impact is less. God bless them, US media in the tank for Barack Obama.
You know as well as I do that if there were a Republican in the White House and gasoline prices were where they are, higher than they've ever been, the last thing you would say is stories anywhere about how you are complacent and you're cool with it. You're just combining your errands and it just isn't that big a deal anymore. You know damn well you wouldn't be seeing those stories.
"Seven Devastating Facts About the Obama Economy -- Every fifth man in America is out of a job." Twenty percent of American men are out of work. "Indeed, black male unemployment is now at the highest rate it has ever been since the US government began collecting statistics on the subject in 1972. Just 56.9 percent of black men over the age of 20 are now working. Indeed, according to Rep. Maxine Waters (D-CA), one out of every six African Americans, male or female, are now unemployed. Every seventh person you pass on the sidewalk now relies on food stamps." Every seventh person you see in a car, doesn't matter. Every seventh person at the movies. Every seventh person wherever you go relies on food stamps.
"On the last day of President Bush's presidency, gas prices were $1.84 a gallon. Today under Obama, the average price of a gallon of gas costs $3.94," and it's just fine. You're okay with that. LA Times. Whoever wrote that LA Times story I'm sure wants to get hired at ABC, probably the Today Show. And $4.29 out in California. "Easter weekend in Catalina Island, California, drivers saw prices topping $7 a gallon." No big deal. You've come to expect it. You're complacent with it. It's just the way it is, not worth getting worked up over. "In 2006 and 2007, 90% of all college graduates found a job. Under Obama, just 56% of college graduates are able to find a job."
But that's okay. That's just the new norm. That's just the way it is. It's about time the United States found out what it's like to be one of the other countries in the world. We've had it too good for too long and we've had it unfairly too good for too long. We had all these riches and all these wealth and all this advanced technological lifestyle stuff 'cause we stole it from everybody. It's about time now that we found out what it's like. In 2006-2007, 90% of all college graduates found a job. Under Obama, just 56% do.
"More than one in four US homeowners are 'under water' or owe more than their homes are worth. ... President Obama has increased the national debt more in three years than President Bush did in eight." And this is shocking number, and there are others that put this in even different perspective, but get this. "A record 87,897,000 Americans are no longer in the labor force. When the number of individuals who have stopped looking for a job and/or who are working part-time but desire full-time employment is included -- a figure known as the 'underemployment rate' -- real unemployment stands at 19.1," in this country. And it's not because we're in decline. Well, we're in decline, but the reason we're in decline is not because of the way the country was founded, not because of capitalism. We are in decline because of three-and-a-half years of drastically failed Obama policies.
RUSH: You know, this LA Times story is not the first. We had last week a CNNMoney.com story, same thing: "Rising Gas Prices Aren't as Bad as You Think --
Gas prices are once again dominating the national debate. But despite rhetoric, high gas prices aren't hurting as much as they used to. But for the average American household," and you average Americans know who you are, "which has an income of over $62,000 a year, the increase in gas prices represents a relatively small portion of total spending." It's the same story that claimed it was radio talk show hosts and the Republicans who were whipping people up. Same story.
So you make 62 grand, your gasoline price has gone from a $1.87 to $3.89, it's no big deal. It's such a relatively small portion of your spending, CNN and now the LA Times. And it's all in coordination with the regime. Gas prices have gone up faster under Obama than they did under Jimmy Carter, and Obama decent have OPEC to blame. He can only blame himself. Keystone pipeline, the drilling moratorium in the Gulf Coast.
RUSH: Nick, Weymouth, Massachusetts, welcome to the EIB Network. Hello.
CALLER: Rush, pleasure to speak with you. Rush, I need you to tell me, what am I missing here? This is all about jobs created. We all know that in the last couple years we had about anywhere between 300 to 400,000 jobless claims per week, but when a monthly job report comes out they'll say, okay, 300-plus thousand new unemployment claims and a hundred thousand, 122,000, for instance, the last one, jobs created. Well, what am I missing here? Over a long period of time if you calculate the number of jobless claims versus the number of jobs created, it's something like about 30-plus to one over the last two years. What am I missing here? Where's the good news in what they're saying is a recovering economy?
RUSH: There isn't any good news. They're trying to make you think this is the new normal. They're trying to make you accept less. They're trying to put you in smaller cars. They're trying to put yours house with defective light bulbs that are not gonna be satisfactory. You don't deserve to live well. You've lived too well for too long as an American. It's not fair to the other peoples in the world who have not lived as well as we have because we have stolen what they have. It's not fair. You're supposed to be miserable.
RUSH: Here's John in Annapolis, Maryland. He is an unemployed economist, it says here. Great to have you on the program.
CALLER: Great greetings from the People's Republic of Maryland.
RUSH: Thank you, sir.
CALLER: I wanted to share a little stat that I used to use a couple of years ago in some of my economic analysis dealing with gas prices, 'cause we used to follow that quite extensively in trying to kind of formulate which direction we thought things were going. For every penny that a gallon of gas goes up, we estimated that it took between one and one-and-a-half billion dollars annually out of the economy.
RUSH: How did you arrive at that number? That's an interesting stat, but how did you get there?
CALLER: You know, there were a couple of us that worked on it. There was one, I'll call him a veteran economist that came up with the metrics for it. I could probably get into it with you, but it might take an hour.
RUSH: Okay, so basically what you're saying is for every penny increase in the price of gasoline, there's that much corresponding decline in economic activity on the part who have to pay that penny for gasoline?
CALLER: Yes. Think of it more as a shift of money.
CALLER: We used to think of it in terms of disposable income because there's certain set things --
RUSH: That's exactly right. That's a great way to put it. Yeah, so you're take a penny of disposable income away times the number of people that have to buy the gas. I'm surprised it's that little. A billion, billion-and-a-half, but it makes total sense. I do believe that. Back after this.
RUSH: Our last caller from Annapolis, Maryland, is right on the money, and that's why the country's after-taxes disposable income has gone through the floor over the past few months. Disposable income is really what grows the economy. The money people have to spend that's in their pocket after they paid bills, taxes, and all that, that's vanishing because of the rising cost of gasoline.