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RUSH: The Obama administration is gonna issue new medical marijuana policy today, which I’m frankly thankful for, folks, because we’re going to need to be stoned to live through the next three-and-a-half years. Here’s the White House announcement.

(playing of Obama spoof)

Brand-new legal marijuana rules coming today from the Obama White House. Three pages of regulation from what I understand. Did you hear what Judd Gregg said, the Republican Senator from New Hampshire? Judd Gregg, leading fiscal mind on Capitol Hill and a-one-time Obama cabinet pick ‘sounded the alarm yesterday over the projected long-term financial challenges that the country faces. ‘This deficit is driven by us.” He was on CNN’s State of the Union. He was asked about the federal government’s $1.4 trillion operating deficit for the 2009 fiscal year. By the way, AP even has a story on this today, what is $1.4 trillion? Well, here’s how they answer it. It’s more than the total national debt for the first 200 years of our country. One-point-four two trillion is Obama’s budget deficit. The single year budget deficit is more than the total national debt for the first 200 years of the country. It’s more than the entire economy of India. It is almost as much as Canada’s economy and is more than $4,700 for every man, woman, and child in the United States. It’s also the federal budget deficit for 2009, more than three times the most red ink ever amassed in a single year.

Whoever these expert economists are that AP has on the payroll, they went out and talked to them. And these economists warned that unless the government makes hard decisions to cut spending — which isn’t going to happen, all of this is on purpose — or raise taxes, it could be the seeds of another economic crisis. Well, they’re going to raise taxes, they’re going to raise taxes on everybody. There’s probably going to be a VAT tax, there will be one of these and it’s going to make it even worse, which is the express purpose. Did you hear what Hugo Chavez did? Hugo Chavez just seized a Hilton hotel down there in Venezuela because too many people were having too much fun at it and the Hilton people weren’t cooperating with him, so he just appropriated it. And now he’s getting ready to appropriate two high-end golf clubs and golf courses because the game is played by a bunch of lazy elites, it sends the wrong signal to the workers of the world. Does he not know that his idol, Barack Obama, plays golf as often as he can? Keep a sharp eye on Venezuela.

Judd Gregg says all of this spending and all of this debt is going to lead us to a banana republic. ‘You talk about systemic risk. The systemic risk today is the Congress of the United States.’ He’s the ranking Republican, by the way, on the Senate Budget Committee. He said, ‘We’re creating these massive debts which we’re passing on to our children. We’re going to undermine fundamentally the quality of life for our children by doing this.’ And you can’t blame this on George W. Bush, ‘noting that using the Obama administration’s projections the budget deficit for the next ten years is $1 trillion per year.’ It’s going to be closer to a $12 trillion budget. This is before you add in the health care mess to it. And Gregg said that ‘during the same ten-year period, public debt as a percentage of gross domestic product would increase from 40 percent up to 80 percent.’

He said, ‘The figures mean we’re basically on the path to a banana-republic-type of financial situation in this country. And you just can’t do that. You can’t keep running these [federal] programs out [into the future] and not paying for them. And you can’t keep throwing debt on top of debt. Standards of living will drop if we keep this up.’ Everybody knows this, folks, everybody knows it, and I once told a joke — in fact do you remember this, Snerdley? I said we’re headed for banana republic status and our new national anthem is going to be this, and we played Day-O by Harry Belafonte. (singing) Day-O, day-O. Midnight come and me wan’ go home. That’s our new national anthem. And now you’ve got a United States Senator saying the thing. You don’t think this is on purpose? Bloomberg News today: ‘White House economic adviser Lawrence Summers told leaders of top financial companies last month the Obama administration ‘will not be lectured’ by opponents of a proposed consumer-protection agency. In a closed-door speech to the Financial Services Roundtable in Washington on Sept. 24, Summers, 54, told the executives they were beneficiaries of an unprecedented government bailout and should brace for a regulatory overhaul, according to one participant. The administration ‘will not be open to arguments motivated by perpetuating the status quo,’ Summers told the audience.

‘Those comments were a preview of public remarks Summers, who is director of the National Economic Council, delivered Oct. 16 in New York. ‘The events of the past two years should serve as a wake-up call,’ he said. ‘The time has come for fundamental change.” Now, let me translate this for you: Shut up, lay back, and enjoy getting screwed. Just enjoy it. There’s a new boss in town and this is how it’s going to be. These guys should have known when they started taking this money.

BREAK TRANSCRIPT

RUSH: This is Helen in Cary, North Carolina. You’re next on the EIB Network. Hello.

CALLER: Hello Ma-hot-Rush, the sexiest brain in America.

RUSH: Thank you very much.

CALLER: I have a question about B.O. wanting to legalize marijuana. Where is he going to smoke it? There’s no smoking allowed anywhere anymore and don’t the smoking laws apply to marijuana?

RUSH: Well, now, it’s a very interesting point, because I’ve never heard anybody say that marijuana, either directly or via secondhand smoke, is a carcinogen.

CALLER: Oh, it suppresses your immune system. We’ve lost two friends —

RUSH: Well, you and I know this.

CALLER: Right.

RUSH: I’m talking about the way marijuana is portrayed versus tobacco products: cigars and cigarettes.

CALLER: Right.

RUSH: And marijuana, marijuana, whoa, in California they’re talking about legalizing it just outright because it would be worth billions of dollars in proposed tax revenue every year on the sale of the stuff.

CALLER: And I have a question also about this racist thing you’re talking about. How can it be racist when I believe the mother decides the race of the child and I’ve always heard mama’s baby, daddy’s maybe, does that apply? He could be just white. We don’t have a problem with either one. We just don’t like what he’s doing.

RUSH: Folks, I was genuinely confused here what she’s talking about, I only now got it. But she’s trying to say doesn’t matter to us what anybody’s skin color is and it’s true. As I said earlier our problem is not Obama’s blackness, it’s his redness. By the way, for those of you just joining us we had a special announcement from the White House earlier today on this whole liberalization of marijuana law stuff.

(playing of Obama spoof)

There you have it straight from the White House on the future liberalization of marijuana laws. Right now it’s on the medical side of things.

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