{"id":32169,"date":"2009-04-14T01:01:01","date_gmt":"2011-05-19T02:30:32","guid":{"rendered":""},"modified":"2011-05-19T02:30:32","modified_gmt":"2011-05-19T02:30:32","slug":"we_must_praise_president_obama_for_his_brilliant_economic_speech","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2009\/04\/14\/we_must_praise_president_obama_for_his_brilliant_economic_speech\/","title":{"rendered":"We Must Praise President Obama for His Brilliant Economic Speech"},"content":{"rendered":"
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RUSH: Boy, oh, boy, oh, boy, President Obama out there with a brilliant, brilliant speech, ladies and gentlemen. He\u2019s at Georgetown University. We gotta give him credit when he deserves credit. We gotta be willing to acknowledge when Obama does something right, and he\u2019s giving a great speech. I think the students are falling out of their chairs there, so mesmerized. I found myself unconsciously drooling near a coma state while listening to Obama\u2019s speech, brilliant speech, making anybody listening to it think that not only does he have a grasp of all the economic issues but that they do, too, brilliantly conceived, flawlessly executed. One teleprompter glitch, President Obama appeared to lose his place. But, man, he\u2019s good, he snapped right back in there like it was hardly anything at all. Greetings, my friends, and welcome back. Great to have you here. Rush Limbaugh and the Excellence in Broadcasting Network. The telephone number, if you want to be on the program today, 800-282-2882. The e-mail address, ElRushbo@eibnet.com. <\/p>\n

President Obama, in an economic speech at Georgetown University, started by saying, (paraphrasing) ‘Look, it\u2019s going to be a longer speech than I usually give because it\u2019s so important.\u2019 He has laid out in this speech — we\u2019re cutting it up now, we\u2019re going to have audio sound bites on this as the afternoon progresses, or as the morning, depending on your time zone, progresses. President Obama is laying out all the reasons why this happened. It\u2019s predominantly George Bush, Wall Street, Main Street, everybody but the Democrat Party that had a role in this. The Democrat Party tried to stop this from happening. They\u2019re now in the process of trying to fix it. He has just laid out, in a brilliant speech, all that has gone wrong, and then he\u2019s laid out in the second part of the brilliant speech all that he has done to bring this economy back. And just as this program was starting, after laying out all the brilliant steps that he\u2019s taken, and using the straw man arguments that he uses, ‘Some say we shouldn\u2019t do anything.\u2019 Nobody\u2019s ever said that. But he uses the straw man argument; he lays out all the brilliant steps that his young administration in less than a hundred days has taken to fix all of these problems, and they\u2019re on the road to being fixed. <\/p>\n

After brilliantly laying out just exactly how much brilliance has been employed in the form of policy, more government spending, larger government, government owning part of the automobile industry, after brilliantly laying out why that\u2019s called for, he said, (paraphrasing) ‘I don\u2019t want you to get falsely optimistic here, 2009 is going to be a bad year.\u2019 So after telling everybody how all of these steps that he\u2019s taking are brilliantly positioned to cause a massive revival — this was not just the normal down business cycle. This was caused by greed on Wall Street. He has — I love this, as you know — he has trashed AIG four or five times in this speech. Oh, he has. He\u2019s really trashed AIG a lot here. He made a show of trashing Fannie Mae and Freddie Mac, but it wasn\u2019t very sincere. He threw that in there. But even that, despite all of the brilliance of our brave young president and his new plan, his policies, all of the things that he has dictated that will happen here to bring the economy back, still says it ain\u2019t going to happen this year. So — (laughing) there is a glimmer of hope, just not this year. The glimmer of hope is not this year. There\u2019s a glimmer of hope in 2010, an election year. Glimmer of hope will happen in 2010, which happens to be an election year. The glimmer of hope is there. We have to keep agreeing with all of the brilliant policies and plans that he has put forth in order to see that glimmer of hope become a glimmer of reality, is the modus operandi here. <\/p>\n

The way the Associated Press deals with this, of course, they got a text copy of the speech before the president delivered it today. ‘President Barack Obama is trying to strike a careful balance between highlighting economic progress and underscoring continued challenges as he seeks to reverse the recession he inherited but now owns. … The speech would outline the state of the economy when Obama took office in January, steps his administration has taken in its first three months, and what still needs to be done to right troubled sectors, including the housing, banking and financial industries.\u2019 He started out by once again claiming, ladies and gentlemen, that the subprime problem is due to predatory lending and lending money to people who had no hope of paying it back. They were predators. The people that lent the money did it for quick profits. They convinced people that couldn\u2019t afford a house to buy a house. They convinced people who couldn\u2019t get a loan to get loans, leaving out, conveniently, any of the role of government in ordering the banks to behave in this way, but nevertheless we are told that we must praise President Obama when he does good things, and he\u2019s delivered a good speech. I have to tell you, it\u2019s a brilliant speech. <\/p>\n

If you watch this speech, you conclude he knows intimately what he\u2019s talking about, and he makes it sound like you do, too. So he\u2019s doing a great job delivering the speech. Teleprompter is on the money today. You gotta give the teleprompter credit, too, because the teleprompter put the words up there that President Obama is saying. Now, he\u2019s into the second half of the speech and it\u2019s starting to slide now into the Barbra Streisand, starting to slide into the BS. The second half kicked off with the success at the G20. It was not a success. The things that he wanted Europe to do did not happen. The G20 trip was not a success. But it doesn\u2019t matter because it\u2019s being reported as a success, and he\u2019s saying it\u2019s a success. So it\u2019s a success, even though it\u2019s not or wasn\u2019t, it is. He\u2019s talking about how the money is already doing great things, but it isn\u2019t going to happen this year. All the money we\u2019re spending is creating new credit, even though your credit card companies are raising your interest rates and lowering your balances that you can carry, there\u2019s still credit out there. You can go buy a house now, you can go buy a car, his policies have worked to create an expansion of credit. So the BS is starting to settle in now, just so you know. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: Norman in Winter Haven, Florida, a truck driver. Nice to have you on the program, sir. Hi.<\/p>\n

CALLER: Hey, Rush, before I get to my main point, can I make a quick comment about this global warming thing? The thing that I don\u2019t understand about that is that you can have congressional hearings on baseball players and steroids, but they will not bring the brightest and the most prestigious minds in front of Congress because the liberals cannot take the chance of anybody with any, you know, reputable reputation saying anything negative about global warming. But what I called about was I\u2019m a truck driver, and I was at a truck stop while the president was making his speech, and I\u2019m sitting there listening to him, and one of the first things that stood out to me was that he talked about economists on the liberal and the conservative side, and one thing that they do agree on, I thought he was going to say, do not raise taxes —<\/p>\n

RUSH: Grab sound bite 22. This is what Norman, the truck driver, heard. And this is a classic Obama straw man argument. Everybody agrees with me! Everybody agrees with me. Economists on both the left and the right agree with me.<\/p>\n

OBAMA: Economists on both the left and the right agree that the last thing a government should do in the middle of a recession is to cut back on spending.<\/p>\n

RUSH: It\u2019s a lie.<\/p>\n

OBAMA: You see, when this recession began many families sat around the kitchen table and tried to figure out where they could cut back, and so have many businesses. And this is a completely reasonable and understandable reaction. But if everybody, if every family in America cuts back all at once, then no one is spending any money, which means there are more layoffs, which means that the economy gets even worse. That\u2019s why the government has to step in and temporarily boost spending in order to stimulate demand. That\u2019s exactly what we\u2019re doing right now.<\/p>\n

RUSH: All right, Norman, what was your reaction to that?<\/p>\n

CALLER: Okay, that was just — you know, I kind of blew that off when I\u2019m sitting there. And then he\u2019s telling us that all this money that\u2019s supposed to be in our paycheck, and then I just say to myself, I said, and I said it out loud, I said, ‘Do you know what? If this was true, he wouldn\u2019t have to be on the TV telling us this.\u2019 And by the time I got that out, everybody turned around and looked at me and the place just erupted, you know —<\/p>\n

RUSH: This is why I love the truck driver community. The truck driver community, these guys are the epitome of free market capitalism. You don\u2019t earn a salary, I\u2019ll bet, do you, you get paid on how often you work?<\/p>\n

CALLER: Yeah, I get paid by the mile. But you know what, Rush? You are absolutely right. And just where the Democrats have the unions and stuff like that, this is a huge amount of the — <\/p>\n

RUSH: Yeah.<\/p>\n

CALLER: — of the workers that are out there —<\/p>\n

RUSH: Right.<\/p>\n

CALLER: — that the Republicans can incorporate, or they could connect to them, because all these people, a large percentage of them are small business owners —<\/p>\n

RUSH: Let\u2019s not talk about the Republicans right now. I\u2019m in a foul enough mood as it is. Let\u2019s stick with Obama \u2019cause you are exactly right. If all this great stuff was happening, we\u2019d know it. Can you imagine this truck stop? Here\u2019s Norman out there, he\u2019s watching this drivel, he\u2019s watching this bilge, he\u2019s watching this sewage on his television, and he\u2019s saying, ‘Whoa, man, all this money out here, all this spending, all these jobs, all this demand, I don\u2019t see it, I don\u2019t have it, where is it? If it was happening you wouldn\u2019t need to be on television telling me it\u2019s happening.\u2019 And Norman is exactly right. Norman, this speech today was to blunt the tea parties tomorrow, it was to get the press saying, ‘Hey, we see a glimmer of hope, it\u2019s starting to work out there.\u2019 There\u2019s so much wrong with this comment. I get so sick and tired of parsing liberals anyway. I\u2019ve been doing it for 20 years and I\u2019m fed up that I have to do it. ‘Economists on both the left and the right agree that the last thing a government should do in the middle of a recession is cut back on spending.\u2019 <\/p>\n

No, that\u2019s not true. And then he goes on to blame every one of you, you\u2019re cutting back, businesses are cutting back, everybody with a brain cuts back when you\u2019re in debt and your income is stagnant or falling, you don\u2019t go spend more. But since you\u2019re doing that, since you\u2019re living responsibly, since all of you are cutting back, you\u2019re not spending, government has to. It\u2019s your fault. Government has to because you\u2019re not. Government has to step in, temporarily boost spending in order to stimulate demand. I want to see the demand that\u2019s been stimulated. Where is it? And then after laying all this out — and we have two sound bites and I\u2019m not going to play \u2019em because I don\u2019t want to listen to him, you know, lie through his teeth about how great the economy is doing, all these signs of recovery coming along, but then after doing all that, this is what he said.<\/p>\n

OBAMA: 2009 will continue to be a difficult year for America\u2019s economy. The severity of this recession will cause more job loss, more foreclosures —<\/p>\n

RUSH: What about all your spending?<\/p>\n

OBAMA: — and more pain before it ends.<\/p>\n

RUSH: What about all your stimulation?<\/p>\n

OBAMA: The market will continue to rise and fall, credit is still not flowing nearly as easily as it should.<\/p>\n

RUSH: You stimulated it!<\/p>\n

OBAMA: The process for restructuring AIG and the auto companies will involve difficult and sometimes unpopular choices. All of this means that there\u2019s much more work to be done.<\/p>\n

RUSH: Oh, yeah, so things are getting better out there, ha-ha, but not now. Thanks, Norman, for the phone call. <\/p>\n","protected":false},"excerpt":{"rendered":"

RUSH: Boy, oh, boy, oh, boy, President Obama out there with a brilliant, brilliant speech, ladies and gentlemen. He\u2019s at Georgetown University. We gotta give him credit when he deserves credit. We gotta be willing to acknowledge when Obama does something right, and he\u2019s giving a great speech. 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He\u2019s at Georgetown University. We gotta give him credit when he deserves credit. We gotta be willing to acknowledge when Obama does something right, and he\u2019s giving a great speech. 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