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Rush Limbaugh

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RUSH: President Obama this afternoon in Washington, during this program, was all giddy over the fact that ‘only’ 240,000 more Americans lost their jobs, only excited that the full unemployment figure is 16%. When you add the people who have been unemployed and have then given up looking for work, to those who are recorded as unemployed and looking, the unemployment rate nationally is 16.9%. President Obama and his remarks basically said that his administration has rescued our economy from catastrophe.

OBAMA: This morning we received additional signs that the worst may be behind us. Though we lost 247,000 jobs in July, that was nearly 200,000 fewer jobs lost than in June and far fewer than the nearly 700,000 jobs a month that we were losing at the beginning of the year. Today we’re pointed in the right direction. We’re losing jobs at less than half the rate we were when I took office. We’ve pulled the financial system back from the brink and a rising market is restoring value to those 401(k)s that are the foundation of a secure retirement.

RUSH: The worst is behind us, America! Obama saved the economy. He touts the rising stock market, which in previous months this administration said they pay no attention to. It’s just ‘a tracking poll.’ So 247,000 jobs are not saved. Do you feel saved, America? See, I made this point yesterday. He’s making the same great oratorical speeches. He still looks cool. He has the same warm smile and so forth, but the numbers are going down. What’s different here? Do you feel saved? Let’s go to the next sound bite. We need a new foundation, Obama says — and he means it, and this is very important. We do not need a new foundation. We have had the best foundation any country has ever had for over 200 years. We don’t need a new one. Here’s what he said:

OBAMA: As we begin to put an end to this recession, we have to consider what comes next because we can’t afford to return to an economy based on inflated profits and maxed-out credit cards, an economy where we depend on dirty and outdated sources of energy, an economy where we’re burdened by soaring health care costs that serve only the special interests. Now’s the time to build a new foundation for a stronger, more productive economy that creates the jobs of the future. And this foundation has to be supported by several pillars to our economy.

RUSH: That’s it. We’re going to remake it. We’re going to get rid of profits. We’re going to get rid of all the energy sources that are cheap, economical and that work. We’re going to get health care costs down, which everybody knows isn’t true. The polling data shows that people aren’t buying this. Oh, this is just… He’s rescued our economy from catastrophe. Here’s the final sound bite.

OBAMA: Americans who have kept their confidence in their country and in our future. That’s how we’ve pulled the economy back from the brink. That’s why we’re turning this economy around. I am convinced that we can see a light at the end of the tunnel, but now we’re going to have to move forward with confidence and conviction to reach the promise of a new day.

RUSH: 240,000 more people lost their jobs. Now, you could say, ‘Okay, maybe jobs are a lagging indicator and maybe things are turning around.’ But folks, let’s just hypothetically say, ‘Okay, it is a turnaround. We’ve hit bottom and we’re now sort of bouncing back up.’ You wait until cap and trade and health care are implemented and start impacting the economy. All this is out the window. Wait until these tax increases hit. He must be stopped.

BREAK TRANSCRIPT

RUSH: Hey. Hey. President Obama just rescued us from catastrophe. We haven’t been rescued from a catastrophe. This is a catastrophe! He is a catastrophe. However, I have here a State-Run Associated Press dispatch: ‘President Barack Obama on Friday welcomed a dip in unemployment…’ It did not dip! It did not dip. I know it went 9-5 to 9-4, but it didn’t dip. At any rate, I don’t want to split hairs. ‘President Barack Obama on Friday welcomed a dip in unemployment as evidence ‘the worst may be behind us,” and it may not. ‘Earlier, however,’ before his 1:15 p.m. TV appearance, ‘the White House said that the president still expects unemployment to hit 10 percent sometime later this year.’ Now, that could mean one of two things. They say it and when it doesn’t happen, ‘Ooooh!’ Or they know it’s gonna happen. They know it’s probably already there now. They’re just cooking the books. That’s what I think.

You want to hear some startling numbers? ‘In 2008, over two million US citizens fled the United States for greener pastures, and while this figure still represents less than 1% of the total US population, the trend is astounding. Between 2006-2008, the average number of US permanent resident filings stood at roughly 1.1 million/year…’ That’s how many people would leave. That’s how many people would leave. It was two million in 2008, and in 2009 and beyond it’s going to double, going to triple. You know, when a state goes nuts and starts taxing you out the wazoo, you can split the scene and move to another state. When your federal government does, there’s nowhere you can go. You can’t escape it, except leave — and some people do. Two million people in 2008? That’s — and I guarantee you they’re not leftists, who are upset that the country’s not liberal enough.

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