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Steny Hoyer: We Don't Have a "Spending" Problem; We Have a "Paying for" Problem

BEGIN TRANSCRIPT

RUSH: Yesterday, ladies and gentlemen, right here on this program, we had a sound bite for you.  It was Nancy Pelosi saying, "We don't have a spending problem."  She said we have a budget deficit problem.  I intended to make a point about this yesterday.  As we do almost every day on this program, I had a call or I brought the subject up myself about my optimism, about how, at some point all of this is gonna bottom out and we're gonna rebound.  And I've been honest with you about that optimism.  I don't know what or when, you know, I'm trying to be honest.  It's not wishful thinking. It's not just hope. It's a genuine positive confidence that I have in the overall population of this country. 

I assure you here that I am not engaged in wishful thinking. I'm not blindly optimistic.  It's a genuine sincere feeling, and one of the reasons -- and I meant to mention this yesterday -- one of the reasons is, this just can't go on.  This kind of dishonesty and falsity will implode on itself.  I remember what Ronaldus Magnus said once about the Soviet Union and communism in general.  He said it will fall on its own.  Now, we're gonna nudge it.  We're gonna give it a shove, but it will collapse on its own because of its moral depravity.  It can't survive.  And communism hasn't thrived. 

Have you noticed, Obama's gotten pretty much everything he's wanted in four years.  Where's the happiness?  Where all the Julias of the world, that TV commercial. Where are the happy Obama voters?  Where are the happy people of this country?  There isn't any massive amount of happiness.  Everybody's on edge.  So you got Pelosi.  I mean, Democrats make statements like this constantly, but this one, it's close to taking the cake.  "No, we don't have a spending problem. We have a budget deficit problem." 

Unemployment benefits, she said, are the single best thing you can do for economic growth and job creation.  She said this. "For every dollar of unemployment benefits, we get $1.73 in economic output."  And then she also said, I forget the exact statistic, but she also said for every dollar in unemployment benefits we create jobs.  She said the best job creation that we can do in this country is unemployment benefits.  She really said this stuff.  So this morning on CNBC, Squawk Box, they had a fill-in hostette, name was Michelle Caruso-Cabrera, and she asked Steny Hoyer -- this is the number two Democrat in the House -- she asked Steny Hoyer, "Does the country have a spending problem?"

HOYER:  Does the country have a spending problem?

CARUSO-CABRERA:  Yeah.

HOYER:  The country has a "paying-for" problem. We haven't paid for what we bought. We haven't paid for our tax cuts. We haven't paid for the --

CARUSO-CABRERA:  So how is that different from a spending problem?

HOYER:  Well, we spent a lot of money when George Bush was president of the United States.

RUSH:  We have a paying-for problem.  We don't have a spending problem.  We don't have a spending problem.  Yesterday, we have a budget deficit problem.  Today, Steny Hoyer, number two Democrat, "No, no, no, we don't have a spending problem; we have a 'paying-for' problem."  Now, folks, this is intellectually depraved.  This is intellectually incompetent, in addition to being irrelevant and dishonest.  Well, of course it's insulting, but these people, the foundation for everything they're doing is built on balsa wood.  And, at some point, it's gonna collapse.  This kind of stuff has no legitimacy.  This is a totally illegitimate comment.  So is everything Pelosi's saying about this. Most of what Obama says is illegitimate, in addition to dishonest and in addition to insulting. 

House Minority Whip Steny Hoyer joined the host of CNBC, grilled by the anchorette Michelle Caruso-Cabrera.  "We have a 'paying-for; problem."  Now, the infobabe was incredulous.  She said, "I've heard Democrat after Democrat today tell me how much the president reached out to them during that last speech and how he's gonna do it again tonight.  Sat in meetings with the president, sitting with Republican leadership in the Senate and the House trying to get a compromise. Hoyer counted. Didn't get there, but the president spent a lot of time trying, and so any fair analysis would indicate that he was prepared to go to places, particularly on entitlements, that would upset his base." 

So, do we have a spending problem?  No, we've got a 'paying-for' problem.  We haven't paid for what we bought.  She said, "Are we promising too much?"  He said, "Yeah, and, if we don't pay, we shouldn't buy."  Well, how is that different from a spending problem?  Well, it's not a spending problem because our spending is legitimate.  Our problem is we haven't paid for it.  Well, why haven't we paid for it?  Well, we don't have the money.  Well, then we've got a spending problem.  I can't believe I'm even trying to explain this. I can't believe that I'm even trying to makes sense of this for people. 

I can't believe that I am 15, 10 minutes into the open of this show, and this is what I'm having to explain to people.  We don't have a spending problem.  We have a 'paying-for' problem.  We don't have a spending problem.  We've got a budget deficit problem.  Now, I'm just telling you, this is also moral depravity, folks. In addition to everything, lying, misrepresenting, it's insulting, it is intellectually depraved. It's corrupt, is what it is.  This is banana republic kind of stuff.  This is, "I'm gonna answer whatever I have to that's gonna take the blame away from me, and what are you gonna do about it?"

BREAK TRANSCRIPT

RUSH:  Steny Hoyer: "We don't have a spending problem; we have a 'paying for' problem."  The town drunk: "I didn't have too much to drink last night.  The bartender served me too much."  The first half hour of this program is devoted to utter absurdity. This is the stuff we used to say as jokes.  Do you realize one of the techniques of this program from the early days was to illustrate absurdity by being absurd? It's gotten to the point now that they've taken over the gig.  I don't have to illustrate absurdity.  They are.  They're doing just fine.

BREAK TRANSCRIPT

RUSH: Larry in Ithaca, Michigan. Welcome, sir, to the EIB Network as we head back to the phones. Hello.

CALLER: Yeah, good afternoon, Rush. I got a comment about Steny Hoyer saying we have a paying problem.

RUSH: A paying-for-it problem, right.

CALLER: Right. Yeah. I don't know where Mr. Hoyer's been the last four years, but I can tell you this: We have over eight million people unemployed and dropped out of the workforce here in this country. That's a lot of lost revenue. There's no need to raise taxes. We need to create private sector jobs. That will take care of Mr. Hoyer's paying problem.

RUSH: Well, that's what Obama's gonna do tonight. He's gonna say that he probably already created four million of those. He fixed the debt. He's gonna hail his job creation tonight. He's gonna talk about and focus on jobs, and now create even more.

CALLER: Yeah, but most of his jobs were in the public sector.

RUSH: Yeah, and there haven't been eight million or four million, whatever, created anyway. Some of them are replacements but in terms of a net-net, there aren't eight million, four million, two million net new jobs, as you correctly said. The labor force participation rate since January 2009 is down 8.5 million. That's how many jobs have been lost -- and I don't just mean people who've lost their jobs. There are that many jobs that no longer exist to be filled. It's not just people who lost jobs that the jobs are open.

The jobs are gone, and with 8.5 million fewer jobs, you're right: There's much less tax revenue being collected. But, if we got all those jobs back, if we replaced all those jobs, we still wouldn't have the money to pay for the spending that Obama has engaged in. There's no amount of tax revenue increase that could be reasonably expected to occur that would get anywhere near paying for this spending. Nowhere near it, folks. Don't fall for anybody saying so. 

BREAK TRANSCRIPT

RUSH: Reginald in Atlanta, I'm glad you called.  You're next on the EIB Network.  Hello, sir.

CALLER:  Hey, black-man dittos to you, Rush.

RUSH:  Thank you, sir.

CALLER:  I just wanted to say a few things.  As a black man, I'm totally disappointed in blacks who continue to support President Obama and the Democrat Party.  And it's not that I'm even mad at them. For one, a lot of them are my family members.  But I truly feel sad that so many blacks have been just taken advantage of by the Democratic Party, and it's not even just Obama, it's just the party in general.  Rush, I'm out here working three career fields, doing what I can to sustain myself and spend wisely, but going by Steny Hoyer, I guess I can go out and charge for an iPad and then worry about paying for it later.

RUSH:  That's right. (laughing.)

CALLER:  It's just totally ridiculous.  And then I look at the long black unemployment lines, so sad.  And it's like, on Election Day, we got out of the unemployment line to vote for the Democrats, then got right back in the unemployment line the very next day.  And I'm just surprised that Democrats didn't even try to pass a law to allow people to vote while in the unemployment line

RUSH:  Well, join the club.  Join the club.  I mean, I can only imagine what it's like for you.  The rest of us think we're going crazy.  It's gotta be even worse for you, thinking the way you do.  But we hear you.  I'm glad you called, Reginald, thanks very much and all the best. 

BREAK TRANSCRIPT

RUSH: Black and female unemployment higher than when Obama took office.  That's a little note to Reginald who just called us from Georgia. 

END TRANSCRIPT

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