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CBO: Our Best Days are Behind Us

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RUSH:  I had an audio sound bite about an hour ago, an hour and a half ago, and it was a survey out of Rutgers.  It basically said that a majority of Americans think the recession permanently damaged the US economy.  Remember that?  It might have been two hours ago.  It might have been in the first hour of the program where, if you weren't here, I apparently totally depressed everybody.

But I fixed it in the next hour 'cause I didn't intend to do that.  But there was an audio sound bite, polling data, I think it was Rutgers, that essentially said that 60% of the country thinks that the recession (which was Bush's) permanently damaged the economy.  It was just more evidence that nobody associates -- or at least those people, 60% do not associate -- current economic circumstances with Obama, even after six years. 

Here is a story from the Washington Examiner:  "Budget Crunchers Now Expect a Permanently Weaker Economy -- The economy's best days are behind it, according to Congress' budget crunchers." Now, this is absolute BS.  This is outrageous.  "The Congressional Budget Office is now creating its budget projections using the assumption that the economy will never grow as fast as it did in the years before the recession."

That is outrageous.  I'm telling you, this is inexcusable, for this kind of assumption to be made.  This is just... It's so unnecessary, and it's pessimistic thinking.  It's probably pessimistic thinking with enthusiasm! "The CBO updated its fiscal projections Wednesday, and they reflected its new gloomy view that the future of the U.S. economy is one of slower growth and lower productivity."

The only way that assumption comes anywhere near being factual is if there is wanton amnesty and never-ending illegal immigration. Because if that happens -- if country continues to be flooded with people that have no skills and no education, who cannot speak the language, whose only means of eating and drinking is welfare -- well, then, yeah.  Sad to say, that's the vision of the Democrat Party. 

Massive welfare. 

Massive new welfare cases. 

That's how we get to show how "compassionate" we are.  That's how Democrats get to show how much they care.  That's how they get to demonstrate how big their hearts are.  That's the only way this assumption can be true, is if we are gonna continue to flood this country with people that have no skills and no education and can't speak the language.  They have to eat.  I mean, what are we gonna do? 

We're gonna go into greater debt?

Gonna have to have higher tax rates?

If that's true, that's then why they're making this assumption.  But I don't think that's what they're doing.  I don't think they're even factoring that in. I think that's just a bunch of pessimists that populate the government now, and this kind of makes it official.  When the CBO... They're supposedly nonpartisan. (impression) "Oh, yeah! They don't have any opinions, you know that?

"CBO, they don't care what the end result is, no.  They are just independent, totally objective numbers crunchers.  Yeah.  We can totally believe everything they say, Mr. Limbaugh.  They're the epitome of fairness and equality."  Right.  If that's the case, then it's official: The smart guys are finally noticing what the dumb guys have known since 2008, that if we're gonna keep on with Obama and with Democrats running the show, then, yeeeeeeeep!

We're gonna have nothing but the best days are behind us.  That's another way this can happen.  Forget illegal immigration.  If the Democrat Party continues to run this country, if the Democrat Party's policies continue to run this country, then, yeah, our best days are behind us.  But you see, my friends, I think that's the plan.  That's what's distressing.  That's the plan! That is the "transformation" of America that Obama has been talking about. 

Here's a pull quote from the story: "The CBO's scenario -- slower growth and permanently lower interest rates -- is consistent with the 'secular stagnation' scenario outlined by former Obama economic adviser and Harvard professor Larry Summers, who has argued that the US economy may not be able to generate enough consumer demand for goods and services on its own without stimulus from the Federal Reserve or through federal spending."

Well, bingo.  There you have the entire Obama economic agenda in the supposedly nonpartisan CBO.  That's it, folks.  Let me translate this for you, for those of you who may not quite get what he said there. The CBO is saying (and agreeing with Larry Summers) that the American population alone cannot consume enough, cannot earn enough, cannot produce enough to keep the economy growing on its own. 

The only way economic growth can continue is if the federal government stimulates the economy (like Obama did) and if the Federal Reserve stimulates by printing money, because you saps that make up the American population are just incompetent and incapable.  You just can't do it anymore!

Never taking into account that these very policies are destroying career-type jobs.  There is no such thing as a "stimulus."  It's mathematically impossible! The federal government does not have a bunch of unused money sitting somewhere in a warehouse that they can then pump into the US economy and have new production and consumption built around it, or caused by it.  The federal government's in debt $17 trillion! 

So as was the case with Obama's stimulus in 2009-- and we'll round it up to an even $1 trillion -- everybody, all these people like Larry Summers and all these supposedly brilliant people got really excited. "Oh, wow! We're gonna pump a trillion dollars into the economy! We're gonna pump a trillion dollars into the private sector! Oh, man, shovel-ready jobs! That new money. Wow! You wait to see how the economy takes off!"

It didn't happen, and the reason is there wasn't a trillion dollars of new money that came from nowhere, which wasn't being used somewhere, and transferred to the private sector.  The federal government has to take that money from somewhere first, and where do they get it?  They get it from taxpayers or they print it, but they get it from the private sector.  So if they're gonna put, as they did, a trillion dollars into the economy to stimulate it?

Well, they had to first take the trillion dollars out.

Now, it's not that they went in and raised taxes immediately and got a trillion dollars and then put it right back.  It didn't work that way.  But they don't have any money.  There's no money laying around that isn't being used.  It was a net zero. It was a net wash.  All Obama did was redirect some already budgeted US dollars or print some new ones and have them sent somewhere, which is..

There was no foundation for it.  There wasn't any new money!  It was impossible. It's impossible to stimulate that way, and it's been proven here.  If these stimuli worked, we should be in Fat City, and instead what do we have?  After all of these Obama stimuluses, after all of this government work, after all of this quantitative easing, after all the bailouts, what do we what do we have today? 

News that our best days economically are behind us.

That's BS. 

That is absolute BS, and furthermore I think it's irresponsible for people in leadership to be talking this way.  This is what I was trying to convey earlier.  We need somebody to speak the opposite of this! We need somebody optimistic, inspiring.  We need to have somebody that can show up and turn people loose, inspire 'em, get 'em going. It's possible!  Everybody needs a boost.

Very few people are self-starter.  Everybody needs somebody pushing 'em, particularly in derelict situations like this, where people are throwing up their hands in frustration and some of them giving up.  This is just outrageous to say this! After these guys lie to us and tell us all that this stimulus is gonna be the answer to this horrible Bush economy? This is the kind of stuff that really ticks me off.

This is a story that isn't gonna get noticed out there, folks.  This story, it's in the Washington Examiner. It's not gonna go any further than that.  This is the kind of thing that just frosts me.  All these supposedly brilliant people, smarter than you and me, all these economic wizards, and they tell us, "We gotta get this economy going, man! Bush destroyed it. Oh, yeah! Bush's economy was horrible." 

Stimulus here, stimulus there, quantitative easing here, bailout there, all of this stuff designed to save our economy, right?  After six years of this crap, they tell us our best days are behind us and we had better get used to crap.  This is what you get when you elect leaders who do not appreciate, understand, or agree with the concept of American exceptionalism.  This is what you get when you elect people who haven't the slightest understanding, respect for, or even curiosity about what it is that makes this country great.

END TRANSCRIPT

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