{"id":11072,"date":"2013-10-23T16:14:28","date_gmt":"2013-10-23T16:14:28","guid":{"rendered":""},"modified":"2013-10-23T16:14:28","modified_gmt":"2013-10-23T16:14:28","slug":"study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/","title":{"rendered":"Study Shows Limbaugh Plan Would Have Worked Better Than Obama\u2019s Stimulus"},"content":{"rendered":"

\"Listen<\/a><\/p>\n

RUSH: Last night on Breitbart this came in over the transom. Try this headline: “Experts Conclude: Limbaugh Plan Better than Obama\u2019s Stimulus.”<\/a> And I said, “My gosh, who remembers that? That\u2019s five years ago.” And Joel Pollak writing in Breitbart: “In 2009, at the height of debate about President Barack Obama\u2019s stimulus plan, conservative radio host Rush Limbaugh proposed a compromise in the pages of the Wall Street Journal that would have devoted half the stimulus to tax cuts. Now, a new working paper by the National Bureau of Economic Research (NBER) concludes that Limbaugh was right, at least in terms of that portion of the stimulus that was directed to state governments.<\/p>\n

<\/a><\/p>\n

“The paper, by Gerald Carlino and Robert P. Inman, finds that ‘ARRA [American Recovery and Reinvestment Act], the stimulus, the Porkulus, “assistance would have been 30 percent more effective in stimulating GDP growth had the share spent on government purchases and project aid been fully allocated to private sector tax relief and to matching aid to states for lower-income support.\u2019 In other words: Tax cuts and cash transfers would have been better. The new research partly answers the challenge Limbaugh laid down in January 2009.”<\/p>\n

And I remember that. I mean, I wrote the piece<\/a>. Everybody was calling for bipartisanship and I was offering to help. I didn\u2019t think the stimulus was gonna work. I knew it wasn\u2019t gonna work. It was not possible for it to work. Let me explain to you why, because I know we get new tune-in here each and every day as people desperately want to learn more and more about politics these days. Ahem. So the federal government\u2019s gonna stimulate the economy, right? The first question to ask yourself is where does the federal government get money? Besides printing it, where does it get money?<\/p>\n

<\/a><\/p>\n

It takes it from someplace, right? It gets money via taxes and fees and services and bribes and kickbacks and what have you, but it all comes, no matter how they get it, it all comes from the people who produce it. And where does that happen? It happens in the private sector. It happens in the economy. It happens on Main Street. It happens on Wall Street. It happens at the mall. It happens at the gas station. It happens everywhere commerce takes place. It happens everywhere goods and services are bought and traded. That\u2019s the only way government gets money. Well, they could sell some federal land, but they don\u2019t produce income. Government destroys wealth. They do not create wealth. They print the money for the money supply, but they don\u2019t produce anything. Government has what it has via taxes. <\/p>\n

Okay, so if the government doesn\u2019t have any money, and it\u2019s going to stimulate the private sector with money, where\u2019s it gonna get it? Well, it has to first take it from the private sector. So, in this case, let\u2019s just call it a round number of a trillion dollars. Obama and his regime say, “We\u2019re gonna prime the pump. We\u2019re gonna goose the private sector. We\u2019re gonna put a trillion dollars in there, and that\u2019s gonna cause all kinds of new economic activity, and it\u2019s gonna cause all kinds of job creation, and with it we\u2019re gonna get road repair and bridge repair, school repair.” This is how he sold it. <\/p>\n

Now, nobody stopped to think, “Well, wait a minute. Where\u2019s the trillion coming from?” They just heard the trillion dollars being injected like with a syringe and thought, “Wow that\u2019s cool.” But in order to get that trillion they had to take it from somewhere and they took it from the only place they can take it, the private sector. So they had previously taken a trillion dollars out, they didn\u2019t have it anyway, they were in debt, but they didn\u2019t stimulate anything. If I take 10 dollars from you and then give it back to you as a stimulus, it\u2019s a wash. You don\u2019t have any more money than you had and I\u2019ve lost what I took from you. <\/p>\n

There\u2019s no stimulus. It\u2019s not possible. It literally, financially, economically, mathematically isn\u2019t possible to stimulate the economy via the government. You can\u2019t do it, unless — this is the Keynesian theory, that you just go into deeper and deeper debt doing this because the theory is that all that money that you\u2019re putting in the private sector is eventually gonna kick in and cause economic activity. They\u2019ve been doing it for five years. We\u2019re up to QE3. It hasn\u2019t worked, has it? Well, Wall Street has, but that\u2019s because the QE1, 2, and 3 went straight to them. It never found its way to the Main Street. It never found its way to the gas station. It never found its way to the mall, the strip mall, the tattoo parlor. Never found its way in there. <\/p>\n

<\/p>\n

It found its way to Wall Street, bought some stocks and bonds, paid off the second home in the Hamptons, hired a butler, fine and dandy. But that\u2019s as far as it went. They\u2019ve been priming the pump, and we\u2019re losing jobs. People are losing jobs and leaving the job market. I mean, the economy is shrinking. We got 90 million people not working after five years of stimulus, led off by the first one. So I said in my proposal that was carefully crafted in the Wall Street Journal, let\u2019s take the election results, be bipartisan, and say Obama won 53 to 47, just use the numbers. <\/p>\n

I said, “Give me 47% of that trillion to do with as I would do it, and, Mr. President, you\u2019re the winner, you keep 53%, so you keep $530 billion, give me $ 470 billion, and I\u2019ll do with mine what I do, and you do with yours what you do, and we\u2019ll see what happens.” And I said, “With mine, tax cuts. I would literally keep more money in the private sector. I wouldn\u2019t take anything out. I would give tax cuts to producers; tax cuts to small business; tax cuts to earners; tax cuts across the board; marginal income tax rate cuts and keep more money in the private sector to compensate for Obama\u2019s removing it,” which is what Obama\u2019s stimulus did. <\/p>\n

Obama\u2019s stimulus didn\u2019t do anything except stimulate the government. Obama\u2019s stimulus took money away. My plan was to at least get nearly half of it and keep it in the private sector, and then we compare. And of course the idea was rejected because Obama never intended to stimulate the private sector. He only wanted people to think that\u2019s what he was doing. His intention was to grow the government and eventually get to this health care plan that we\u2019ve got now and eventually get to every other boondoggle of a federal problem that we\u2019ve got. All of this has been by design. <\/p>\n

<\/p>\n

So these guys, Gerald Carlino and Robert Inman at the National Bureau of Economic Research, concluded after studying all this five years later that I was right. “The new research partly answers the challenge Limbaugh laid down in January 2009: Let Obama devote 54% of the stimulus to ‘infrastructure and pork,\u2019 in accord with his share of the 2008 vote, and let the remainder go towards corporate tax reductions and capital gains tax suspensions. ‘Then we compare.\u2019 The ‘Obama-Limbaugh Stimulus Plan\u2019 –” that\u2019s what I called it. He won, put his name first, “– was never passed, of course, but the NBER paper provides a comparison. President Obama and the Democrats often claimed that the stimulus did provide tax cuts — but they were only typically available under restricted conditions, and constituted a smaller part of the total.”<\/p>\n

It was about 28%, but they were de facto tax — Obama hasn\u2019t cut anybody\u2019s taxes. Social Security extension and earned income tax credit, gerrymandering. It was about all it was. “On the state level, the stimulus was devoted to $318 billion in government transfers,” and you know what that was. That $318 billion dollars in government transfers was to government employees to keep their jobs during the recession. Remember, this stimulus was to stop the recession dead in its tracks. The stimulus was to kill the recession and cause economic growth. <\/p>\n

Well, remember what the unions are for the Democrat Party. They are a very sophisticated money-laundering scheme, for all intents and purposes. Because every union member has dues taken from his earnings, and that money is largely cycled back to the Democrat Party in the form of campaign ads, donations, and what have you. So $318 billion of Obama\u2019s stimulus just came back to him, the Democrat Party. It\u2019s a money-laundering scheme. It\u2019s easier to do it that way than trying to go to the Treasury, just write a check to “Barack Obama Esquire and Democrat Party, et al.” You try to do that, even Obama\u2019s Treasury secretary, Timothy Geithner, might say, “You know, that\u2019s a little tough. I don\u2019t think you can just come here and raid the Treasury, but if you run it through your union buddies, no problem.” That\u2019s what they did. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Last night on Breitbart this came in over the transom. Try this headline: “Experts Conclude: Limbaugh Plan Better than Obama\u2019s Stimulus.” And I said, “My gosh, who remembers that? That\u2019s five years ago.” And Joel Pollak writing in Breitbart: “In 2009, at the height of debate about President Barack Obama\u2019s stimulus plan, conservative radio […]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","ngg_post_thumbnail":0},"categories":[],"tags":[],"yoast_head":"\nStudy Shows Limbaugh Plan Would Have Worked Better Than Obama's Stimulus - The Rush Limbaugh Show<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/\" \/>\n<meta name=\"twitter:card\" content=\"summary\" \/>\n<meta name=\"twitter:title\" content=\"Study Shows Limbaugh Plan Would Have Worked Better Than Obama's Stimulus - The Rush Limbaugh Show\" \/>\n<meta name=\"twitter:description\" content=\"RUSH: Last night on Breitbart this came in over the transom. Try this headline: “Experts Conclude: Limbaugh Plan Better than Obama\u2019s Stimulus.” And I said, “My gosh, who remembers that? That\u2019s five years ago.” And Joel Pollak writing in Breitbart: “In 2009, at the height of debate about President Barack Obama\u2019s stimulus plan, conservative radio […]\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"GeorgePrayias\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebSite\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\",\"url\":\"https:\/\/admin.rushlimbaugh.com\/\",\"name\":\"The Rush Limbaugh Show\",\"description\":\"Excellence In Broadcasting\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/admin.rushlimbaugh.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg\",\"contentUrl\":\"https:\/\/live-rush-limbaugh.pantheonsite.io\/wp-content\/uploads\/listentoit.jpg\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/#webpage\",\"url\":\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/\",\"name\":\"Study Shows Limbaugh Plan Would Have Worked Better Than Obama's Stimulus - The Rush Limbaugh Show\",\"isPartOf\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/#primaryimage\"},\"datePublished\":\"2013-10-23T16:14:28+00:00\",\"dateModified\":\"2013-10-23T16:14:28+00:00\",\"author\":{\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/9a33276eb9dc5b6d3f8218957f30e6b4\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.rushlimbaugh.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Study Shows Limbaugh Plan Would Have Worked Better Than Obama\\u2019s Stimulus\"}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#\/schema\/person\/9a33276eb9dc5b6d3f8218957f30e6b4\",\"name\":\"GeorgePrayias\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/admin.rushlimbaugh.com\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/d290ab65e2eaca3719268528f83b85bf?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/d290ab65e2eaca3719268528f83b85bf?s=96&d=mm&r=g\",\"caption\":\"GeorgePrayias\"},\"url\":\"https:\/\/www.rushlimbaugh.com\/daily\/author\/GeorgePrayias\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Study Shows Limbaugh Plan Would Have Worked Better Than Obama's Stimulus - The Rush Limbaugh Show","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rushlimbaugh.com\/daily\/2013\/10\/23\/study_shows_limbaugh_plan_would_have_worked_better_than_obama_s_stimulus\/","twitter_card":"summary","twitter_title":"Study Shows Limbaugh Plan Would Have Worked Better Than Obama's Stimulus - The Rush Limbaugh Show","twitter_description":"RUSH: Last night on Breitbart this came in over the transom. 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