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RUSH: From TheHill.com: “A pending legislative package to extend the payroll tax credit and unemployment insurance will create more jobs than the approval of the Keystone pipeline, Obama said yesterday. ‘Here\u2019s what I know,\u2019 he said. ‘However many jobs might be generated by the pipeline, they\u2019re going to be a lot fewer than the jobs created by extending the payroll tax cut and extending unemployment insurance.'” In fact, here\u2019s the president saying that. This was this morning, actually, in Washington talking about this.<\/p>\n
RUSH: That\u2019s another lie. The Keystone creates pipeline 20,000 jobs immediately up to a half a million. Unemployment benefits create jobs? (laughing) Think of that. Unemployment benefits create jobs. What was it that Pelosi said the return was? For every dollar spent on unemployment benefits, the economy grows by a buck and a half or two dollars or whatever? I mean, it\u2019s absurd. It\u2019s literally absurd. Unemployment benefits? Where are all the jobs created? We\u2019ve had the payroll tax holiday for a year. There aren\u2019t any new jobs being created.<\/p>\n
The unemployment number is getting smaller because the universe of jobs is if we go to smaller. They\u2019re just simply shrinking it. But I mean the answer to this is, “Mr. President, do both! If you\u2019re focused like a laser on jobs, do both. What is this straw man you continue to construct? What is this either on? Why not do both! We need jobs; you say you\u2019re laser focused on jobs; you understand people want to work. Why not do both, Mr. President?” and it\u2019s like I said yesterday, the pipeline project brings campaign contributions from both sides of the issue: The environmentalist wackos and the oil interests. They are both sending money to Obama hoping he decides in their favor. If he decides now, he cuts off half of that money — and everything he\u2019s doing is about his reelection and nothing else.<\/p>\n
BREAK TRANSCRIPT<\/p>\n
RUSH: Check this story from the AP. “Americans\u2019 wealth last summer suffered its biggest quarterly…” In fact, this is a double whammer day for Obama, because the army has announced job cuts of 8700. Do you realize what a celebration is going on in the White House today? Eighty-seven hundred Army jobs in the Pentagon cut, buyouts, attrition, what have you, 8700 jobs cut! My God, how happy can Obama be? And then this news.<\/p>\n
“Americans\u2019 wealth last summer suffered its biggest quarterly loss in more than two years, as stocks, pension funds, and home values lost value.” The 1% got hurt. Those evil SOBs are finally having it stuck to \u2019em. “Household net worth fell 4% in the July-September quarter, according to a Federal Reserve report released yesterday. It was the sharpest drop since the tumultuous period after the September 2008 bankruptcy of investment bank Lehman Brothers.” Speaking of that, how many of you went out and rented the movie Margin Call on my recommendations. Did you like it, did you watch it? Yeah, I should tell you this movie is patterned after Lehman Brothers, but Lehman Brothers was allowed to go belly up. They didn\u2019t bail it out. We don\u2019t know that that happens to this fictional firm in the movie Margin Call but it\u2019s loosely based on Lehman Brothers.<\/p>\n
This is the AP here, folks, which has been on Obama\u2019s side. We gotta go after that 1%. We gotta stick it to \u2019em. We have got to roast them. The 1%, why, the rich, they\u2019re to blame for everything. By the way, could somebody tell me what tax cuts from Jimmy Carter caused the misery index to go sky high? What Jimmy Carter tax cuts caused that depression? Somebody tell me what tax cuts in Italy, Spain, and Greece caused the problems that they\u2019re in? What tax cuts? Well, there aren\u2019t any tax cuts in the Carter years, or in Italy, Spain, or Greece, but Obama is claiming the tax cuts — George Bush tax cuts and any other tax cut that the rich have gotten — are the reason we\u2019re in this economic mess. You know, the tax cuts did it. Lower net worth can hurt the economy, AP says? Whoa, whoa, whoa, I thought lower net worth was what we were after. I thought we were gonna soak it to \u2019em! I thought we were gonna make the rich pay, and now it\u2019s an Obama Christmas because the rich have lost some of their net worth.<\/p>\n
I thought that was good news.<\/p>\n
BREAK TRANSCRIPT<\/p>\n
RUSH: Yep, it\u2019s a Democrat Christmas, the rich got poorer. But I thought that was good, I really thought that was the objective. The wealth gap shrunk, yeah, and the way Obama wants, the rich get poorer. Democrats never want to elevate people at the bottom, they just want to shrink it from the top. But then AP says here, I\u2019m confused, “Lower net worth can hurt the economy.” (gasping) You mean the rich getting poorer can hurt the economy? Let\u2019s read further. “When people feel poorer, they spend less.” Oh, so the rich are feeling poorer because they are poorer. Okay, let\u2019s keep reading. “That slows growth.” Really? “Lower net worth can hurt the economy.” That\u2019s the thesis. “When people feel poorer they spend less. That slows growth.” Oh, I see, that\u2019s exactly what Obama\u2019s after. That\u2019s what he\u2019s after, slower growth. AP just doesn\u2019t get it. Ah, okay. Okay. “Businesses typically then cut back on hiring.”<\/p>\n
So after three years of the State-Controlled Media following the regime\u2019s lead, attacking the rich, trying to support any policy that would take money away from them, now the rich are getting poorer, and all of a sudden AP is concerned because that slows growth, businesses typically cut back on hiring and expansion, people are spending less, so this is not good, according to the AP. It is perfect for Obama and the Democrats, I mean it is Christmas.<\/p>\n
BREAK TRANSCRIPT<\/p>\n
RUSH: Interesting little story here today from TheHill.com: “A Democratic lawmaker on Friday said President Obama might cave on his threat to veto an extension of the payroll tax cut if it\u00c2\u2019s tied to” the Keystone pipeline. You know who said it? Emanuel Cleaver, Democrat, Missouri, from Kansas City. I remember old Emanuel. I used to live there. Emanuel was something when I lived there. He might have been a member of Congress, might have been mayor, might have been something else, but I remember Emanuel Cleaver from those days; and he said, “I think [Obama] is serious, but at the end, it may be here\u2019s an opportunity to get a deal and get what I want and go home.<\/p>\n
“Consider the fact that in previous debates like this, before the end of the summer, the president never said, ‘I will veto [the pipeline deal],\u2019 so I don\u2019t know the strategy in the White House right now, but I\u2019ve got to say that the president is serious, but I think in politics everybody understands you have to get the best deal you can.” Now, what Cleaver is saying here… You want me to translate this? Cleaver is saying: “We want to get the hell outta here in time for Christmas and we\u2019re not gonna stay here, and I better not veto this pipeline thing if it means we have to stay here because we are not staying here for Christmas!”<\/p>\n
That\u2019s all this means. What this means is this is Emanuel Cleaver telling Obama, “Look, pal, we are getting outta here. You say you can keep us here while Michelle and the girls are over in Hawaii? You say you can keep us here? Well, we\u2019re getting outta here, and the only way we\u2019re gonna get outta here is if that pipeline is part of this and I\u2019ve looked and I\u2019ve seen some openings for you, so I know that you might cave on this.” That\u2019s what Emanuel Cleaver\u2019s saying here: Democrats want outta town; Democrats want to get home for Christmas.<\/p>\n
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