RUSH: I think there could be economic growth in this country in spite of Obama and in the energy sector of this country. And then if you feel bad now let me add to it, because Obama's policies will get credit for that growth when they have literally nothing to do with it.
RUSH: The one area where there will be, I think, economic growth in our country is the energy sector.
We see it in North Dakota. Even in the midst of Obama's assault on capitalism, for the first four years of his administration, we saw an oil boom because of fracking, because of shale. I know Obama's trying to shut it down, and the Democrats think it's unfair that some should make money, but it will be something that continues, because no matter what Obama does, and no matter what the Democrats do, the world cannot get by without energy. Just can't happen. No matter the rhetoric, no matter all the demagoguing about it, there will be the creation of new sources of energy or the discovery of current sources, like oil and natural gas. And I believe it's possible that we could see, in spite of Obama, a growing economy, or at least enough growth in that sector to push the overall economy into a growth profile, and the thing that would be really maddening about that is that as far as the media and everybody else is concerned, Obama's policies would get the credit for it.
Just like Clinton's tax increases mistakenly got the credit for economic growth in the nineties and the tech boom, so will Obama's policies, which are designed to kill growth, get credit for it. If you think you're mad now, wait 'til that happens, if it does.
RUSH: Scott, Phoenix. Great to have you on the program, sir. Hello.
CALLER: Hey, Rush. How are you doing? Longtime listener.
RUSH: Thank you, sir.
CALLER: Good. A point on the economy and why I don't believe that we're actually gonna get out of this one regardless of, you know, what extra effort anybody puts into it. I think it clearly has something to do with liberal policy, but I think the bigger elephant in the room is gonna be demographics. Every eight years you go through a demographic shift. The most productive generations come to an end; all their productivity goes away with them. We just saw that in 2008. Now, granted, the subprime may have triggered all of that, but what really occurred was is that essentially your big generation retires. In a sense, you hit a plateau phase.
RUSH: I know.
CALLER: During that plateau phase... I mean, you can offset it with a stimulus. You can offset it with, you know, Fed intervention, with federal intervention. But at some point, it all comes out.
RUSH: Look, I don't... I'm not arguing with you. Everything on the books and everything planned by this administration makes economic growth look impossible. I don't disagree with you at all. The math doesn't add up. There's no incentive to work and so forth, other than people's innate desire to define themselves by their work, which is strong in some cases. I agree with you. Just on paper, there doesn't seem any way possible -- and especially with what Obama's add-ons are gonna be.