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October 16, 2009 |
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Story #1: WaPo Ecstatic! They Found 30,000 Stimulus Jobs
RUSH: The Washington Post, they are just over the top ecstatic, ladies and gentlemen: they have found 30,000 stimulus jobs. "Businesses that received federal contracts from stimulus spending reported creating or saving about 30,000 jobs, according to figures released Thursday. The reports also suggest that the program has been particularly beneficial for the Washington region." Look, look, honey, over there, it's a stimulus job! Hey, look, over there, it's another stimulus job! The seat of government is making out like a bandit, found a whole flock of jobs in DC.
Story #2: Two Versions of Story on Ken Lewis and BofA
 RUSH: This story, Charlotte, North Carolina, this is just amazing: "Bank of America Corp. said Friday it lost more than $2 billion in the third quarter as loan losses kept rising." Now, wait a minute. I thought the economy was back from the brink. I thought everything was fine. I thought we had turned a corner on this. Now, that's an AP story. The Reuters story: "Bank of America's Lewis gives up 2009 salary and bonus at the urging of the pay czar." Now, listen to the AP lead on this story: "Bank of America Corp. said Friday it lost more than $2 billion in the third quarter as loan losses kept rising, providing further evidence that consumers are still struggling to pay their bills."
Here's the thing, this guy, Ken Lewis, the CEO, was railroaded out of B&A. As I understand it -- and somebody correct me if I'm wrong here -- but as I understand it, Ken Lewis did not want to do the Merrill Lynch deal. It says in the article that I saw last night that his pay salary is being removed because the Merrill Lynch -- he didn't want to do it, he was strong armed into absorbing Merrill Lynch by Paulson, by Bernanke, and by Geithner, his business sense said, no, we got no business absorbing Merrill Lynch but they made him do it in order to save Merrill. They let Lehman Brothers go. That was the only one they were going to let go.
Then Merrill's bonus deals came out in public, deals that Ken Lewis had nothing to do with, I believe, and now he's the goat. They're making Ken Lewis the goat and he opposed the policies that have created so much trouble for Bank of America here. He's the fall guy, or at least the first fall guy. This bunch, the Obama team will come up with as many fall guys as they need in order to protect themselves. I wonder if Bank of America would be doing better if their CEO were getting a salary. Can you believe this? They force him to do things he advised against, they're losing money, they're going to punish him, no bonus or salary for 2009 from the Obama pay czar, in the United States of America. I know I'd feel better if the guy had some incentive. If I was a customer of Bank of America, and my CEO is being punished for something he didn't do and is being railroaded and not being paid, I'm going to think, "Well, what kind of incentive is there inside the walls of this bank to get anything done?" I know Obama thinks everybody should work for free, but compensation exists for a reason. "Pay czar urges bank guy to give up salary." And if the pay czar can urge the bank guy to give up his salary, then none of us, ladies and gentlemen, are safe. And Barney Frank has intimated that he thinks businesses that are not taking federal money should have their compensation regulated by him and the government as well.
Story #3: Economy Gets Worse: Food Banks Overwhelmed
RUSH: There's a story I read somewhere today about how food banks are being overwhelmed by people. I don't think it is being accurately reported just how bad it is out there.
Story #4: Will Cap & Tax Obama Bail Out Freezing Citizens?
RUSH: Have you seen the weather in the northeast? They're going to be playing a playoff baseball game tonight in mid-30 degree weather with spitting rain tonight and tomorrow night and this is just the first game of a best-of-seven series. The World Series is going to go into early November if both these championship series go -- well, it's going to go into November anyway, the dates are set. Now, it's supposed to rain through Monday, but 30 degrees, I saw pictures of the Yankees working out at the stadium. In Pennsylvania they've already had snow. There's record cold all over the place in the northeast. I'm going to tell you what's going to happen, folks. This is going to happen. Obama is going to have to pay off millions of Americans who cannot pay their heating bills this winter. It is going to probably be a bad winter. And while he's paying off -- they're going to have to do it -- they're having to extend unemployment compensation, they're going to have to do it, this is all part of the plan.
You have to understand it's all part of the plan, people can't take care of themselves, by design, Obama's going to do it and he's going to get the credit for it. "I will see to it that you don't freeze. We need an emergency heating bill, energy bill to help people pay their heating bill." And the Democrats in Congress will go, "Yeah, we gotta keep people from freezing to death." Now, what's interesting is all that's going to be going on while Obama is trying to sell a brand-new economy destroying program based on global warming. They call it climate change now. And they're calling it cap and trade. It's cap and tax. They're going to be arguing while Obama's paying off these people's heating bills in the northeast, they'll be arguing that global warming requires the passage of cap and tax. This is what's going to happen when people can't afford to heat their homes this winter. I'm talking about the employed and the unemployed, heating bills are gonna eat up millions of people's household budgets just when Obamacare taxes kick in, not to mention cap and tax.
Story #5: Florida Second to California in Bankruptcy Rate
RUSH: This is the headline today from the Miami Herald: "'Sinking Home Prices, Lost Jobs Fuel Rising Bankruptcy Rate in Florida.' -- So far this year, Florida is second only to California in the number of bankruptcy filings, thanks to sinking home prices and lost jobs." Hey, Barack, can't you come out and write some people some checks? I thought we had a foreclosure prevention program. Oh, we do. But we reported this week how utterly failing it is. How is that hope and change working out for you? We've turned our economy back from the brink, though, folks, and, you know what? The stimulus, Larry Summers, you'll hear the sound bite coming up very soon, the stimulus bill, 30,000 jobs we have saved or created 30,000 jobs. Look over there, a job saved! Turn around, look, there's a job saved over there! And over there, a job saved, 30,000 jobs with the stimulus plan, whoopee.
Story #6: California Posts "Higher Than Expected" Job Losses
RUSH: Okay, what was it Larry Summers just said? (paraphrasing) "Oh, it's working, we've turned it around, nobody is saying the economy is in free fall, everything is hunky-dory, 30,000 jobs created, we haven't even spent most of the money." From the LA Times today: "California posted higher-than-expected job losses in September." There must be a key on the typewriter, just hit it and it types out "higher-than-expected job losses." They probably got a macro shortcut for it. "California posted higher-than-expected job losses in September, a sign that the state's employment woes continue even amid indications of a broader economic recovery." You people are a disgrace. You're not even the media. You are all just communications directors for the White House. You just have satellite offices around the country. So the author Alana Semuels: deputy assistant White House communications director at the Los Angeles Times. So how is that hope and change? California job losses continue to climb. LA county joblessness soars to 12.7%.
Story #7: Heritage: How Obamacare Will Fund Abortions
RUSH: By the way, all of this talk, Gibbs and Obama they keep denying that Obamacare will pay for abortions with taxpayer dollars? That is not true. It will. "Obamacare Forces You to Fund Abortions." Heritage Foundation has been running a series all week long: "'Under our plan no federal dollars will be used to fund abortions,' or so Obama promised at his health care address before the joint session of Congress on September the 9th. But the Catholic bishops sent a letter to Congress October 8th saying 'No one should be required to pay for participation in abortion … no current bill meets this test.'? Who's telling the truth? The president or the Bishops? And Gibbs was asked about the question during his press briefing, he said, 'Well, I don't want to get me in trouble with the church but I would mention that there's a law that precludes the use of federal funds for abortion that isn't going to be changed in these health care bills.'"
Another reporter asked Gibbs about it last week, and he said, "My answer is no different than it was on Wednesday. There may be a legal interpretation that's been lost here but there's a fairly clear federal law prohibiting the federal use of money for abortion. It's exceedingly clear." Well, the Heritage Foundation people, who are the best in the world at what they do, looked into this and said, "How to put this politely… It is safe to say that Gibbs' above statement is less than true. The next time anybody tries to convince you that the White House is telling the truth, ask them where exactly in the federal code it says this, because it doesn't. There is no federal law that says taxpayer money cannot be used for abortion." The law doesn't exist. They're just making it up. "What about the Hyde amendment mentioned by the White House reporter. The Hyde amendment must be passed every year as part of a Health and Human Services appropriations bill, and even then it only applies to current HHS programs, which has nothing to do with the new health care bill." The bottom line is, they're making it up. You will be paying for abortions as part of Obamacare. Heritage Foundation has this. These people are good. AskHeritage.org. That's where I got it and you can get it, too, if you become a member there, 25 bucks is the introductory membership price, you fund their work, you fund their research and they are invaluable. AskHeritage.org.
Story #8: Stay Tuned for What Rush Has Planned in Michigan
RUSH: I'm thinking of having a day where we only take calls from Michigan. But we need to do more than listen to the callers… Right now it's just in the thought stage. (Jim Irsay could relate to this.) I'm watching my thoughts on this, about actually doing something, somehow, somewhere in Michigan or Detroit, but I'm not ready to pronounce anything yet. I am looking at it, though.
Story #9: Prediction: Media to Target Rush on Miss America
RUSH: A prediction for you, and be ready for it: The next hit piece in the media will be to take me out of being a judge in the Miss America Pageant. You will see that rev up over the weekend or first part of next week. Bet on it.
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