RUSH: It happened again to Obama last night in the primaries. Greetings. Great to have you. Rush Limbaugh. We're back at the EIB Southern Command here in South Florida, broadcast excellence the next three hours, which will go by lickety-split. The time the program's over you'll think it just started. Telephone number, 800-282-2882, and the e-mail address, ElRushbo@eibnet.com.
President Obama lost again last night. Roughly 40% of the vote in Democratic primaries in Arkansas, Kentucky, and West Virginia. West Virginia a couple of weeks ago. But Arkansas and Kentucky he lost again, 40% of the vote. The Washington Post has a story. Folks, the pretense is gone. It's a story by Chris Cillizza. Now, Cillizza didn't write the headline, but the story gets into this. The headline: "Kentucky, Arkansas Primaries: Is It Racism?" Obama is losing because voters are racist and no longer want a black American as president. It's not even a pretense anymore. They're not even holding it out as a possibility. Now it's the real thing.
"Those headlines have drawn a collective eyeroll from Democrats -- and many others who closely follow national politics -- who ascribe the underperformance by the incumbent to a very simple thing: racism." They are pulling out all the cards.
RUSH: Now Cillizza and the Washington Post basically saying that Obama's losing in Arkansas, West Virginia, Kentucky, 'cause of racism. The voters there are just racist. These are Democrat voters, now. Democrat voters. This is a Democrat primary. Democrat racists. Don't like Obama. They argue that conservative white Democrats, particularly those in the South and Appalachia don't want to vote for an African-American for president, and therefore are willing to cast a ballot for almost anyone else up to and including an incarcerated felon. They voted for Obama last time. They've become racists after Obama got in the White House.
Well, what we'll probably start hearing is that they voted for Obama the first time around so people wouldn't think they were racist, but now, after they've done that once, now they're gonna go back and they're free to be racists now since they've already shown that they're not by voting for Obama for the first time. This is the series of contortions that the media is going to try to put themselves in in order to explain this. It can't be his policies, of course. It can't be that people can't find jobs. It can't be that people's homes are underwater. It can't be that nobody wants health care. It can't be that Obama's out there promoting gay marriage. Can't be any of that. Oh, no, no. It's gotta be because these voters are racist. And this is the charge Republicans are afraid of. They don't want it said about them.
RUSH: "Kentucky 2012 Primary: President Barack Obama Rejected by State Democrats in 67 Counties." If you missed the top of the program, it's Kentucky, it's Arkansas, West Virginia, in the last two weeks, Obama has lost 40% of the primary vote in these three states. The Washington Post out with a story today saying it has to be racism, has to be. We're talking Democrat voters. We're talking Democrat primary voters. And the Washington Post is concluding it has to be racism. It can't be the destruction of the economy. It can't be the absence of jobs. It can't be the fact that home prices and values are low. Oh, speaking of, grab audio sound bite number 26. We have a guy here, Gary Shilling. This is last night on Bloomberg TV's Street Smart program. The co-host Trish Regan spoke with Gary Shilling, who's a Bloomberg View columnist. They were talking about the housing market, and she said, "What's your big concern about housing? You don't buy these numbers that we saw today; is that right?"
SHILLING: Because of excess inventories we estimate that there are two million inventories, both visible and shadow inventories, over and above normal working levels, and that's a lot. Back in the, oh, normal times, we built about a million-and-a-half houses a year so. Two-and-a-half million is a tremendous overhang, and excess inventories are the mortal enemy of prices. What may happen here is that now that the robo-signing flap is settled and the servicers, the big banks, settled for $25 billion with the various state attorneys general and the federal government, they've been holding off on foreclosures because they had enough bad PR. Now they've settled that. I think they're gonna go back to foreclosures. I'm looking for another 20% decline.
RUSH: In the housing market. This is an expert at Bloomberg. Another 20% decline in the housing market. See, the big banks were foreclosing. Obama didn't like that so he called 'em on it. He fined 'em $25 billion. They had to pay $25 billion. And because they've done that, that takes care of their PR problem, they think, and this guy expects them to start foreclosing. So it can't be that. It can't be the fact that nobody can find work. It can't be the fact that Obama's out touting gay marriage, oh, no, can't be any of that. These white Democrats in Arkansas and Kentucky, West Virginia, who voted for Obama in '08 have all of a sudden become racists. That's it. The Washington Post has made that determination.