{"id":35734,"date":"2010-06-24T01:01:01","date_gmt":"2011-05-19T00:50:34","guid":{"rendered":""},"modified":"2011-05-19T00:50:34","modified_gmt":"2011-05-19T00:50:34","slug":"obama_the_days_of_america_as_world_economic_engine_are_over","status":"publish","type":"post","link":"https:\/\/www.rushlimbaugh.com\/daily\/2010\/06\/24\/obama_the_days_of_america_as_world_economic_engine_are_over\/","title":{"rendered":"Obama: The Days of America as World Economic Engine are Over"},"content":{"rendered":"
\n

RUSH: Chicago, Brian, you\u2019re next with Rush Limbaugh. Hello, sir. Great to have you here.<\/p>\n

CALLER: Hello, Mr. Limbaugh. I have a question for you, please.<\/p>\n

RUSH: Yeah.<\/p>\n

CALLER: When is this government gonna stop punishing us with these low interest rates and let people who have earned and saved their money make some money on it?<\/p>\n

RUSH: They\u2019re really trying to hold off on the big killer, inflation. That\u2019s got \u2019em scared more than anything. And that\u2019s why they\u2019re keeping money cheap. They think that they have to do this to prolong the so-called recovery. Now, when you say stop punishing us, you know, basically free money, low interest rates means that people who live off savings accounts and what have you, are falling behind, correct? Is that what you mean?<\/p>\n

CALLER: Well, I see them borrowing like from China and Japan, you know, why couldn\u2019t they issue like war bonds and at least give us a nice interest rate on that, you know?<\/p>\n

RUSH: What do you mean war bond? Go and get a T-bill.<\/p>\n

CALLER: Yeah, T-bill, anything, I mean he\u2019s just got money sitting there that, you know, the banks —<\/p>\n

RUSH: Well, they\u2019re auctioning T-bills off all the time. In fact, the auctions are not nearly as productive as they have been. Some people are concerned not as much debt is being bought.<\/p>\n

CALLER: Yeah. It\u2019s just sickening to know that you work hard, you save your money, and then it just sits there and, you know, you see people getting money back for stimulus packages, cash for clunkers, and you don\u2019t see any of it coming back, you know, you —<\/p>\n

RUSH: Oh I hear you. But you ain\u2019t seen anything yet. Wait \u2019til next year when all these massive new tax increases hit. <\/p>\n

CALLER: Thank you very much, sir.<\/p>\n

RUSH: You bet. It\u2019s going to be a bloodbath out there. <\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: The White House after a meeting with the president of Russia, Dmitry Medvedev, they held a joint preference. Here is a portion of what Medvedev had to say to kick it off.<\/p>\n

MEDVEDEV (via translator): Today I have managed to dine with President Bara\u2019k Obama, an interesting place, which is typical American. Probably it\u2019s not quite healthy, but it\u2019s very tasty and you can feel the spirit of America. But this is not the main thing we were engaged in.<\/p>\n

RUSH: Holy criminetly\u2019s sake! Here is a communist Russian complaining about a burger joint! (impression) ‘We dined with President Obama, interesting place, typically American, probably not quite healthy, but very ta…\u2019 What are you drinking, vodka? What do you eat with it? You know when Bush had Putin over here he treated him to a barbecue down at Crawford and Putin had to criticize that. What the hell do those people eat? Are they hoarding all the beluga? You can\u2019t get that anymore. Beluga and following that with their Stoli chasers. What is this? You know, I\u2019ll betcha something. I\u2019ll betcha Obama when he goes back home to the residence is going to be in big trouble because Medvedev let it out of the bag they went to a burger joint. Probably. I\u2019ll bet the Secret Service tattles on Obama when he goes to a burger joint, tells Michelle about it.<\/p>\n

BREAK TRANSCRIPT<\/p>\n

RUSH: All right, folks, here\u2019s our president this afternoon, listen.<\/p>\n

OBAMA: The US economy for a long period of time was the engine of world economic growth. We were sucking in imports from all across the world financed by huge amounts of consumer debt. Because of the financial crisis, but also because that debt was fundamentally unsustainable, the United States is not going to be able to serve in that same capacity to that same extent.<\/p>\n

RUSH: So there you have it, President Obama: the United States no longer will be the engine of world economic growth.<\/p>\n","protected":false},"excerpt":{"rendered":"

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