RUSH: Do you remember that two-minute ad that we played last week, Obama’s quasi-presidential address? I went back through that, ladies and gentlemen, because a lot of that had to do with his four-part solution for dealing with the financial crisis. I want to go through Obama’s four-part solution here for you to reiterate the brilliant comments that I just made. Investor’s Business Daily, they are running some killer editorials lately. IBD, they’re just amazing. ‘Point one, Obama calls for subsidies to ‘working families’ …’ Now, keep in mind this is his solution to the whole bailout thing that we’re talking about. The idea that these people have a limitless amount of money to spend is just front and center. They don’t think there’s any limit whatsoever on what they can spend! Listen to these items. He ‘calls for subsidies to ‘working families’ to beat high food and energy prices.’
|Now, the very basic fact is that: ‘High food and energy prices are not helped by subsidies but by more supplies.’ I honestly think that he hasn’t the slightest clue about economics. I don’t think he does. I don’t think he can speak on his own. I think he regurgitates what he’s been taught, what he’s been told to say. I don’t think the guy has an original thought. I think ever since he turned himself over to the street mobs in Chicago and the Ayers and Wright types, I think he ceased to exist whoever he was. Subsidies? What, we’re going to pay people to go out and buy supplies of energy and food that are not increasing ’cause Obama is not doing anything to increase those
supplies economically? ‘The real solution is to force a Democratic Congress to allow domestic drilling for oil.’ If we allowed domestic drilling for oil, you could say goodbye to rising gas and food prices!
‘Point two, dubbed ‘mutual responsibility and reciprocity,’ calls for banks to subsidize bad borrowers to ‘protect homeowners and the economy.” Well, the truth is, ‘This would eliminate personal responsibility,’ and this is exactly what they want to do! They want to eliminate personal responsibility so that you transfer it to the government. The government would be guarantor, protector, defender, and all of these things. ‘Third, Obama seeks ‘new oversight and regulations of our financial institutions.’ That means forcing new bureaucracies and regulations into the private sector, the very phenomenon that has made navigating our health care industry such a delight.’
No kidding. You want to know why your health care nightmare exists, look at all the mountains of regulation — HIPPA and whatever else is out there — that you have to go through just to go to the doctor. He wants more of that throughout the private sector. And this is the killer, this is the piece de resistance! ‘Fourth, Obama seeks to empower unelected foreign entities to the same ‘globally coordinated (rescue) effort.’ But Bernanke and Paulson have already done the heavy lifting, as the rest of ‘the world’ has done next to nothing. One more global bureaucracy won’t make America’s financial system any healthier,’ and then he also wants to pay $50 billion from the United States to the UN to wipe out worldwide poverty.