RUSH: Have you heard Obama? He said: "I want to nationalize other industries just like I did General Motors and Chrysler." Yeah. He didn't just come out and admit it, he came out and advocated it. He suggested it and talked about how he could do it and "save" other industries like he has "saved" the automobile industry. I kid you not. I have it here near the top of the Stack and an audio sound bite.
I'll take you back. This is me April 28, 2009, shortly after the stimulus bill, and this is after Obama has taken over General Motors and Chrysler. He gave those companies to the unions. The Chrysler and GM bondholders rank higher than stockholders in terms of who gets paid in a bankruptcy or who gets their investment paid back first. The bondholders are first.
Obama told them to take a hike. Obama called them greedy for wanting a return on their investment. Not even a return; they just wanted their money back! And Obama said (paraphrased), "Get the hell out. You're greedy. Who the hell are you guys?" And he gave the companies to the autoworkers, essentially. So back on April 28, 2009, I, El Rushbo, said this...
RUSH ARCHIVE: This was the game plan all along. It's not Obama's answer to every problem. It's his objective: Nationalize every business. It's not his solution. It's his objective.
RUSH: That was key. That's the key difference. "It's not a solution to a problem. It's his objective." This is what he intends. That's April 28, 2009. This is when everybody is still roiling in controversy over the fact I said, three months prior to that, that I hoped Obama failed. Because I knew what was coming. Here is Obama yesterday in Pueblo, Colorado, during his campaign event...
OBAMA: I believe in America workers. I believe in American industry. The American auto industry has come roaring back and GM is number one again!
OBAMA: So now I want to do the same thing with manufacturing jobs. Not just in the auto industry, but in every industry.
RUSH: In every industry I want to do what I did for jobs in General Motors.
It's not number one. They're not making money. It's just another in a long line of blatant lies. But here he's being honest. I think this has the potential (not quite, but it has the potential) to be, "You didn't build that. You didn't make that." And, by the way, where has that gone? Did you notice that all this stuff that Romney didn't pay his taxes and "Romney killed my wife!" popped up after that?
You notice that that whole incident from July 13th at Roanoke just vanished?
Obama said (paraphrased), "You didn't build that. You didn't make that happen. The roads and bridges made that happen!" He was getting creamed on that. It was really hurting. And it's gone. It vanished out there into the ether. Nobody's talking about it except for I, El Rushbo. I'm now bringing it back up and reminding people. No, instead what we've been talking about is, "Romney killed a guy's wife! Romney is being unfair to Obama's welfare ad!"
And now here's Obama: "I want to do the same thing with manufacturing jobs, not just the auto industry, every industry!" (I want to be Hugo Chavez.) Does this include the oil industry, for example? Does this include the national gas industry? Does Obama want to take over Apple? You know, folks, if you hate Apple (or if you hate me talking about Apple) then you better support Obama taking it over because he'll kill it and that will be the end of it.
RUSH: Folks, he's serious. Barack Obama is serious. "I want to do the same thing with manufacturing jobs. Not just in the auto industry, in every industry." Does that mean, for example, that Obama...? And you watch, by the way, if anybody on television picks this up. It might have happened last night. Today. On the Sunday shows or next week, if anybody on our side on television engages to have a serious discussion on it and to take Obama at his word, you watch how they'll be pooh-poohed.
"Come on! Do you really don't think Obama meant he wants to take over every industry? Who are you? You're just another right-wing maniac." That's what he said: "Now I want to do the same thing with manufacturing jobs. Not just the auto industry, but every industry. The auto industry came roaring back. GM is number one. I want to do the same thing." He'll argue, "I didn't mean taking it over. I want to offer my unique brand of fixing it. My unique way of fixing it," but that's not what happened and that's not what he means.
What he really means is what he said: He wants to take them over. He wants to assume ownership of these things on behalf of the federal government to, quote/unquote, "fix" them and do whatever. And you watch: Anybody who endeavors to take him seriously is going to be mocked and made fun of. "Don't be ridiculous! You're another one of these nuts. You may as well be a birther." They'll try to intimidate and make fun of these people to get them to shut up.
And I predict there won't be a whole lot of people taking this as seriously as they should be. I'm talking just about the campaign issue. This is a made-to-order campaign issue for anybody who has the chutzpah to look at this ideologically. How long has it been that I've been advocating that the Republican Party -- and that everybody -- learn to look at people ideologically? Their ideas define them. Their ideology tells you all that you need to know about them. In other words, the more people...
How long have I been saying this? How many years have I been saying this? The more you can look at somebody this way, if you know that they are a liberal, that that tells you what you need to know about them. Especially if they're involved in politics. But it doesn't matter if they're not. Even if they're just the neighborhood grocery store bagger or whatever, if you know they're a liberal and you know how they're going to vote. You know what they're going to do and how they think socially.
And that's a supreme advantage!
Most people don't want to look at other people that way or don't know how or think that for some reason it's labeling somebody. When it isn't! Defining properly (understanding, analyzing, whatever) someone's ideology is all you need. And the more people who understood liberalism ideologically, the easier and greater opportunity we'd have to beat them. So here's Obama: I want to repeat that. I want to take over every industry! Okay, who is he? We know who he is. We know what he's done in 3-1/2 years.
We know what he's tried to fix (ostensibly) and has broken, and has made worse. We now know who Obama is. We know he's not this Messiah, The One, the unique, never-before-seen-in-politics-before figure that they gave us in 2008. We know. So he's just given us a present. It's a great gift. "I want to take over every industry just like I did with the automobiles." So if the Romney campaign could translate this ideologically and use this to help people understand exactly who is Obama on everything?
They could really move the ball forward.
Looking at people's ideology, looking at their ideas -- not their party ID, and not their image, and not the way the press has created the PR about them -- their ideology. This has been a topic of mine. I don't know how many years I've been talking about this, but it has been many. And this is a great opportunity. This comes right after, "You didn't build that. You didn't make that happen." You put this together with that and it's a great opportunity for Romney and the whole Republican campaign, if they know what to do with it.
RUSH: In January 2011, General Motors stock price was $38.98. Today, it's just over $20 a share. Today, General Motors owes American taxpayers $40 billion. The stock market has been doing quite well. So what happened? Obama and his union pals are in charge of this great success story. He wants to do this to every other American industry. We haven't been paid back for the bailout yet! The stock price is a little bit more than half of what it was just 18 months ago.
General Motors owes $27 billion on the $50 billion it got from the bailout. The lending arm, Allied Bank, owes $15 billion of the $17 billion that it got from the taxpayers. And Obama is out bragging about this! He's threatening to do more of the same. He's not even threatening. I think his audience loves hearing this stuff. Because, remember, his audience thinks he did save General Motors. He goes out and tells them GM is number one, and they believe it. How about just a little stroll down memory lane?
TARP was promised to "save" our banking industry.
That's what we were told.
That's what we were sold.
And magically it turned into a slush fund!
It's a slush fund for President Crony Capitalism to bail out his donors and supporters. You remember President Bush actually proposed using some of the TARP money to save the car companies, but used in conjunction with existing bankruptcy law. But our newly immaculated president took over and, working with the tax cheat Timmy Geithner at the Treasury department, just took over General Motors and gave half of the company back to the UAW. And, by the way, speaking of banking?
Hang in there. Hang in there, folks, because we're being told that another bank crisis is just around the corner. The five US banks have been told that we are in big trouble again. It's a story that makes me think the whole thing is being set up to happen again. I don't know. This perverted process of "saving" General Motors has cost billions of dollars and now Obama is out warning the country that every other industry he crushes will get the same treatment!
He'll go out, wreak havoc on an industry -- which is what his plan is! Wreak havoc on it just like any other government program. You wreak havoc on Social Security and say, "I have to fix it." You wreak havoc on a business, you regulate it to death, you tax it to death. Of course it's never said that this is what you're doing. You're trying to help. You're trying to make sure the rich don't get away with everything. You're trying to save the middle class. You're trying to protect middle class jobs.
You're trying to create middle class jobs!
What you really do is you go out and you regulate these businesses out of business. You regulate them with Obamacare and new tax law, and then as these industries and the businesses in them start getting into real trouble, then you -- Obama, the destroyer -- go in as Robin Hood, the White Knight, and you're going to save the day! And the American people applaud! "He cares!" The architect of the problem, Barack Obama (and his Democrat Party target an industry) wreak great damage on it, and then volunteer to "save" it like they did the auto industry by taking it over.
And that perverted process has cost taxpayers billions of dollars. The president is warning the country that every other industry he crushes will get the same treatment. And what is one of the next industries to get this treatment? The private health insurance industry. That's one-sixth of the economy. That's going to be nationalized. That's already been done. That's Obamacare. Private sector health insurance, within three years, is gone. Starting in 2014, the private sector insurance business industry is gone.
And next how about the coal industry? We have coal mining companies all over this country shutting down. They can't stay in business. They are being targeted by Obama. He has said that he intended to target them. (impression) "Well, you can build a coal-fired plant if you want, but, uh, you're going to lose money because the taxes I'm going to charge you will run you out of business." He said this! Before he was president, as part of the campaign, he announced this to some union buddies.
We've played the sound bite over and over again. So if the government ran the coal mines, well, everything would work out just fine! Just like the auto industry. Just like the private health insurance industry is going to be. Oh, yeah, all these things are going to get fixed. Yeah, we're all going to be driving Chevrolet Volts and standing in line like Third World-type countries in order to get health care. And then when it comes to heat or cool our homes and buildings?
I don't even want to think about it. It's going to be India. It's going to be India. (interruption) What do you mean, "We'd never stand for it"? We're standing for it and watching it all happen! What do you mean won't stand for it to happen? We're watching it happen! We're watching it happen all over the place. We watched the auto industry go bye-bye. We are watching the private health insurance industry go bye-bye. We do nothing when he targets coal and puts a moratorium on oil.
We don't do anything.
We don't do diddly-squat!
What do you mean we wouldn't allow it to happen?
It is happening, right before our eyes, right under our noses.
Of the Indian population, 620 or 650 million people were without power. And you know one of the reasons why? Is because India is toying around with the idea that coal is bad and they're playing around with wind and solar and all this. They are not upgrading their grid. Asia isn't upgrading its grid. We're not upgrading our grid. We're not equipped to fuel our economy. The Indian economy, the Chi Com economy, they're both growing pretty rapidly. They're putting an incredible strain on the fossil fuel power production industry, and we've got plenty of fossil fuels.
We've got fuel! There's no shortage.
All of this is a manufactured panic, but everybody's falling for it. I'll tell you one thing that isn't going to happen: The ChiComs and the Indians are not going to voluntarily slow down their economies in order to make sure they don't have power outages. They'll just have the power outages. What are the people going to do? Look, 650 million people were out of power and what did they do? They accepted it! What else could they do?
California was just told, "We're going to take you off the grid."
It's 90 degrees!
"We're going to have to take some of you people off the grid. We're going to ask you voluntarily at first, in the afternoons, to watch your thermostat." Well, we've had people lose power here. People lost power for a week in the nation's capital. What do they do? What did they do? "Wah, wah, waaaah!" You say we won't stand for it? We're standing for the auto industry being taken over. We're standing for the private sector health insurance and health care industry to be taken over and destroyed. We're watching 55%, 60% of the American people, in poll after poll, opposing Obamacare, but it's happening.
What do you mean we won't stand for it?
Who's standing up to stop it?
Let me take a brief timeout while you chew your cud over that. I'm going to find this bank story, I know I had it here.
RUSH: Reuters story: "US regulators directed five of the country's biggest banks, including Bank of America Corp and Goldman Sachs Group Inc, to develop plans for staving off collapse if they faced serious problems, emphasizing that the banks could not count on government help. The two-year-old program, which has been largely secret until now, is in addition to the 'living wills' the banks crafted to help regulators dismantle them if they actually do fail.
"It shows how hard regulators are working to ensure that banks have plans for worst-case scenarios and can act rationally in times of distress." Well, let me boil this down for you: US regulators are telling banks to make plans for preventing a collapse. Why would they be doing that now? (New Castrati impression) "That's right, Mr. Limbaugh! Because, don't you see, banks should be planning for this each and every day? It's always possible that banks could collapse." Yeah, but warning them to be ready now?
Make plans NOW to prevent a collapse?
"They told banks to consider drastic efforts to prevent failure in times of distress, including selling off businesses, finding other funding sources if regular borrowing markets shut them out, and reducing risk. The plans must be feasible to execute within three to six months, and banks were to 'make no assumption of extraordinary support from the public sector,' according to the documents." Meaning: We ain't bailing you out. The public sector is the government and we ain't bailing you out.
You better be making plans to prevent collapse. And if it happens, you better be able to handle it on your own or else you're all going to end up like Lehman Brothers. And then we're going to have a movie made about each of you. And then the country is never, ever, going to elect a Republican again, because every bank is going to be portrayed as having been run by a Romney-type guy. Why would they be warning the banks, "You better get your disaster plans in order -- and, by the way, you can't count on the government"?
Now, the government, what are they supposed to do? Protect the economy? If there's another collapse, these guys can't count on the government? I know that they want us to believe, "That's good, Rush. The government's not going to bail out the banks." I understand all that. I agree with this. This is another threat, though. I think... I'm just throwing this out there. It's probably very unlikely. But I saw a story the other day that all of these banks that donated money to Obama are not doing so this year.
Goldman Sachs, Merrill Lynch, and all these idiots that threw in with Obama and practically every dollar they donated in '08 went to him? It's now not going to Obama. Well, this is the kind of thing that might result from it. "Oh, okay. You don't see fit to contribute to me? Fine. You better get ready for the next disaster. Remember, I can cause them. And if it happens, you're not getting bailed out." In other words, if there's another collapse... You put together what he just said in Pueblo, Colorado.
"If there's another collapse, I'm going to run your bank. I'm going to come in and take your bank just like I took General Motors."
That's what the guy is.
That's what he's saying.
Don't doubt me.
Again, folks, none of this would be a big, big threat if people just had the ability and the wherewithal to look at Obama ideologically and understand what that means. Of course, it's more complicated than that. You and I understand liberalism. It's simple to us. It's the persuading others that's hard. I know it's a tough thing to do.