{"id":30972,"date":"2008-11-24T01:01:01","date_gmt":"2011-05-19T03:05:19","guid":{"rendered":""},"modified":"2011-05-19T03:05:19","modified_gmt":"2011-05-19T03:05:19","slug":"spending_is_out_of_control_and_the_money_will_not_solve_anything","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2008\/11\/24\/spending_is_out_of_control_and_the_money_will_not_solve_anything\/","title":{"rendered":"Spending is Out of Control, and the Money Will Not Solve Anything"},"content":{"rendered":"
\n

RUSH: Okay, Obama and his big announcement today with his economic team. He did not announce any kind of real economic program. He said that you are in a lot of pain, and he knows it. That\u2019s supposed to make you feel good, and as best I can tell, he repeated essentially his campaign agenda for the economy. The unions, the environmentalists, and the government will own the auto industry. They are going to run it. That\u2019s my guess here. Let me say something controversial. I was talking to Snerdley here at the top-of-the-hour break. You know, we\u2019ve come to the conclusion that it\u2019s not nearly as — I don\u2019t want to say it\u2019s not as bad as we thought it was going to be, but in a way let me try to explain it. Suppose Obama really were something brand-new that we\u2019ve never seen before. We have no way of dealing with it. I suppose it brings a paradigm and an operational manual to the Oval Office that nobody\u2019s ever seen before, like his campaign suggested would be the case. This is the same old garbage leftist bunk that we\u2019ve been dealing with for 60 years. We\u2019ve seen it all before. It\u2019s going to be tough to battle it \u2019cause they own everything. They own the House; they own the Senate; and they own the White House, obviously. <\/p>\n

To illustrate just how unremarkable all this is, would somebody look up for me very quickly to see if there is a town in Arkansas called ‘Change,\u2019 because we know there is a town in Arkansas called Hope. The hope is the Clintons. Every major cabinet position has a tie to the previous Clinton administration, and I\u2019m trying to understand why. I do not have the slightest understanding of this. It\u2019s almost like Obama — and if you look at his appearance today announcing his economic team, there were no specifics. No specifics whatsoever, no kind of real economic program, just assuredness and confidence that he feels the pain you\u2019re in and he\u2019s going to deal with it. He was asked about tax cuts because his aides are all over television over the weekend saying, ‘Well, you know, we\u2019re in this recession here. We\u2019ll probably not going to do anything on tax increases on the wealthy until the Bush tax cuts expire in 2010,\u2019 which will be an automatic tax increase. But he was asked about that today because his advisors are all over television on the weekend and he wouldn\u2019t even get specific about that. <\/p>\n

So it\u2019s almost like he\u2019s going to be a figurehead, and that doesn\u2019t compute with me. It doesn\u2019t compute with the way he ran the campaign. I thought he was going to be this hands-on revolutionary, new kind of change and stuff, and it\u2019s just the Clinton crowd recycled — with a Clinton, by the way, in the cabinet; it appears over at the Department of State. You know, and some of the Drive-Bys even are starting to speculate, ‘What\u2019s the change here?\u2019 There\u2019s no change. That\u2019s the whole opponent. We have been playing this game with these guys for 60 years. It\u2019s just more of the same of what we have already said. In that sense, let me say something controversial. People say I\u2019m controversial. Let me say something controversial. There are no bold new ideas. There are bold old ideas that rely on more and more government spending and lending. Call it collectivism, socialism, whatever you want to call it. It is a bad idea. Everything the Obama team is talking about doing has been tried in country after country after country, and it has failed. You can have new policies based on sound principles — I don\u2019t disagree with that — but policies based on bad old ideas are bad policies and that\u2019s exactly what we\u2019re getting. There\u2019s nothing new that\u2019s bold here. These are bold old ideas, proven to be wrong. They\u2019re going to be employed and they\u2019re not gonna work because they don\u2019t work. They never have worked, not over the long haul. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: I think it\u2019s safe to say things are out of control. I think we gotta just look you dead in the eye and tell you, folks, we\u2019re outta control. We\u2019re looking at a federal deficit this fiscal year of $1.3, $1.4 trillion. That\u2019s a deficit over half the size of the budget. And, by the way, with all these unemployed people, are tax receipts going to plunge? Are we going to have as much revenue generated to the Treasury during this? No, we never do. In a recession you don\u2019t. We\u2019ve not seen anything like this since 1945 right after the war effort and coming out all the things we had to do there to fight World War II, the Marshall Plan and everything. We haven\u2019t seen this in our lifetimes. I can\u2019t help but remember here, it\u2019s Thanksgiving, and I start getting nostalgic. I do through Christmas, too, and I can\u2019t help but remembering my mom and dad, my grandparents warning me to save everything I could \u2019cause the Great Depression. I pooh-poohed it. ‘Dad, I can\u2019t even relate to that. I can\u2019t relate to it. I can try to understand it, but…\u2019 ‘Son,\u2019 they kept trying to pound into us, ‘you don\u2019t want to have to live through one without being prepared.\u2019 I\u2019m not saying Great Depression here, but folks, things are outta control. <\/p>\n

We are trying bold, old ideas, as something new. They are old ideas. They have not worked anywhere they\u2019ve been tried, and we\u2019re about to reinstitute a bunch of them all over again. I think the reason that we\u2019re outta control is, I think this crisis is loved. I think this crisis is adored by politicians who do not want to let go of their power. I mean the contrary, they see this as enhancing their power. I look at Schumer. I look at these guys on the Sunday shows yesterday. They look giddy. All these Obama people, they look giddy. Rahm Emanuel, they can barely constrain their excitement over the chance to deal with this crisis that is too important to waste. By the way, Thomas Donlan is the editorial page editor of Barron\u2019s, which is one of these Wall Street Journal magazines, and they asked him, ‘Why aren\u2019t the banks lending bailout money? Why aren\u2019t they lending money, the bailout money they\u2019ve been getting? Why aren\u2019t they lending it?\u2019 <\/p>\n

He said, ‘The banks\u2019 best customers don\u2019t want to take on more debt right now. They\u2019re trying to pay off some of their existing debt; they\u2019re trying to get rid of it. Their worst customers would love more credit, especially if they don\u2019t have to pay it back. But who wants customers like that?\u2019 So his theory is it\u2019s not just that the banks are hoarding it. It\u2019s that the best customers don\u2019t want the money right now, and the people that do want it are poor risks, and they want to go through that game again, until and unless they\u2019re forced to. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: So look at the irony here. Obama and the Democrats have demanded specifics from the Big Three automakers on December 2nd: You better get specific, and you better tell us what you\u2019re going to do to get that bailout money. Then today, Obama delivers not one specific about any element of his plan. The auto manufacturers ought to ask for the same deal. Of course it\u2019s a pipe dream, not going to happen. Everybody\u2019s running scared from the government now, which is exactly what the government wants. <\/p>\n

This is Gary in Southington, Connecticut. Hey, Gary, thanks for waiting. You\u2019re on the EIB Network.<\/p>\n

CALLER: Rush, huge fan. I\u2019m so honored to be on with you right now.<\/p>\n

RUSH: Thank you, sir, very much. I appreciate that.<\/p>\n

CALLER: I just want to make a quick comment on something you said earlier about jobs to be created by Obama to fix the roads and bridges. I have a friend that works for the New York City DOT, and for those of you in Rio Linda that\u2019s the Department of Transportation.<\/p>\n

RUSH: No, no, no. Rio Linda has been excused here. From now on, it\u2019s, ‘For those of you who voted for Obama.\u2019<\/p>\n

CALLER: There you go.<\/p>\n

RUSH: Because they are the most uninformed people in the country among the voting population, according to exit poll data.<\/p>\n

CALLER: Thank you for the correction.<\/p>\n

RUSH: You bet.<\/p>\n

CALLER: Well, my friend works for the DOT and he basically drives a truck to fix potholes for New York City. He drives a truck, a six man work crew, and basically after he\u2019s done with all of his — and he tells me this very easily. Once they\u2019re done with all of their setup and breakdown between all their breaks, they fix about six potholes per day, a six man work crew.<\/p>\n

RUSH: Does he tell you this with great pride?<\/p>\n

CALLER: He sure does. He\u2019s proud, and he\u2019s a total lib. But he\u2019s a good friend and I love him, but it\u2019s funny how he speaks about his job.<\/p>\n

RUSH: So he\u2019s happy that the workload is no heavier than six potholes a day with six guys on the crew?<\/p>\n

CALLER: Well, sometimes he wished he would work more for a living, but he\u2019s pretty happy the way it is.<\/p>\n

RUSH: Obviously he\u2019s a member of a union?<\/p>\n

CALLER: Yes, he clearly is.<\/p>\n

RUSH: So the union probably negotiated this rule: No more than six potholes a day, so our crew won\u2019t get exhausted.<\/p>\n

CALLER: That\u2019s correct.<\/p>\n

RUSH: So basically one pothole per crew member.<\/p>\n

CALLER: Basically, yes.<\/p>\n

RUSH: Nice work if you can get it.<\/p>\n

CALLER: Yes.<\/p>\n

RUSH: Well, I appreciate the call, Gary. Thanks much. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Okay, Obama and his big announcement today with his economic team. He did not announce any kind of real economic program. He said that you are in a lot of pain, and he knows it. 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