RUSH: And get this one — and this is just one of about ten economic stories that I’ve got. Folks, brace yourselves: ‘Obama: Job Creation Not Goal of Dec. 3 Jobs Forum.’ … ‘President Barack Obama says creating jobs isn’t the goal of a coming White House forum on jobs and economic growth. The president told NBC News on Wednesday that the purpose of the Dec. 3 summit is to figure out how to encourage hiring by businesses still reluctant to do so.’ Would somebody tell me the difference here? What is the difference here between creating jobs and encouraging businesses to hire? Well, there is a difference (laughing) and it’s going to be the hammer being laid down on these businesspeople one way or the other. Obama is going to put it all on them. He’s going to issue some demands, and if they don’t meet them he’s going to issue some incentives that make no sense — and if they don’t follow through then it’s going to be their fault, not his. That’s what this is all about. I mean, it’s stupid to run out and say that the goal of the ‘jobs summit’ is not job creation! Then what the hell is it? Well, it’s a propaganda meeting. It’s for Obama to save some face and to shift the blame.
Meanwhile, Congressional Democrats are ‘in near-panic amid forecasts…’ and this is from the New York Times blog, by the way. ‘With Congressional Democrats in near-panic amid forecasts that unemployment will remain high through next November’s midterm elections, a party leader said on Thursday that the House will pass a new ‘jobs bill’ before Dec. 18.’ Now, wait a minute. Obama’s going to have a jobs forum that has nothing to do with job creation on December 3rd. The Democrats in Congress are gonna pass a new jobs bill before December 18th so we can have more fake, made-up, bogus jobs to have the Drive-Bys report on. What in the world are they going to do? Don’t these people yet understand that this is not where jobs are created? Jobs are not created with legislation in the House of Representatives, unless that legislation happens to be oriented toward tax cuts.
‘Senate Democrats likewise are weighing options. And the signals from Congress follow by a day the White House’s announcement that President Obama will follow his ‘Forum on Jobs and Economic Growth’ on Dec. 3 with a ‘Main Street Tour’ starting the next day in Allentown, Pa., and continuing to other hard-hit places in coming months. … Steny H. Hoyer, the Democratic majority leader from Maryland, said the new measure should not be called another stimulus bill. ‘I don’t want it to be as broad as that,’ he said. ‘I want it to be very targeted on jobs.” What the hell was the first stimulus bill supposedly targeted on? ‘He indicated that the legislation might include money for public jobs, which many liberals have advocated.’ What is the stimulus for? Shovel-ready, construction, roads, bridges, schools, highways, sinkholes, you name it. They’re going to do it all over again. Tax credits to employers for new hires. That’s already in there, too. Let me tell you how that works. If you go out — and this is what Obama is going to do in this forum on December 3rd, is he shifts the blame. Follow me on this, folks. He’s going to tell these guys: ‘For every new hire that you make we’ll give you a $3,000 or $4,000 tax credit.’
Now, any businessman worth his salt knows that that’s a losing proposition, ’cause how much is it going to cost to hire somebody — including benefits, in a recession — and all you’re going to get is a $3,000 tax credit for it? And then when they don’t do it, when they don’t take the deal, then Obama can say, ‘Well, hey, we did everything we could. We passed stimulus, but these people out there just refused to cooperate with me.’ That’s what he’s setting up, shifting the blame. So I guess that sets up our unemployment show ourselves here on December 3rd. December 3rd we’re going to do our own unemployment forum, and we’re going to do what Obama won’t do. We’re going to talk to those of you who are unemployed, exclusively — and we’re going to hear what you think needs to be done. And I want to hear from those of you who are unemployed who want a job and from those of you who don’t want a job. Because the unemployed is made up of both people who have given up looking thinking there’s no hope, and people who are still struggling to find a job — and maybe some of you entrepreneurs are thinking of starting your own business.
We’ll talk to all of you on December 3rd as the president does his no-job-creation jobs summit. We’ll talk to the unemployed people that are enjoying it, too. The AP has told us about those people. People laid off from Boeing are happier than people still working there, for example. So we want to talk to the happily unemployed. We want to talk to everybody but you gotta be unemployed to get on the program December 3rd as we do our own jobs summit show to counter what the president’s doing: A non-job creation jobs summit sponsored by President Obama. ‘The Senate majority leader, Senator Harry Reid of Nevada, has said the Senate will turn to a jobs bill after it completes action on the health bill, which could take a month or more.’ Dingy Harry, I want you to keep that up because every poll indicates nobody cares about health care right now compared to jobs. Everybody is focused on the economy. You guys do this health care bill, and you are going to destroy even more jobs. I mean, it’s just amazing to watch all this transpire and fall out right before our very eyes.
RUSH: Steve, are you in Virginia or Pennsylvania?
CALLER: Rush, I’m in Williamsburg, Virginia.
RUSH: Williamsburg, okay. That’s what I thought. Great to have you here.
CALLER: 24/7 dittos, Rush. Thanks for the role you play in American politics.
RUSH: Thank you, sir.
CALLER: You look at what Obama is doing, I mean, we’ve got destroying the economy. There’s no recovery in sight anywhere, punitive tax policies. He’s making a mockery of the war on terror, running us down around the world, gutting the Constitution — and, meanwhile, he owns the media and has a trillion-dollar slush fund. So my question to you is: How can you call him a man-child when he is kicking our ass?
RUSH: Well, that’s sort of a leftist tweak, just to tweak them. I’m simply saying he’s immature. He has no governing experience, no actual experience at anything, but he’s arrogant and narcissistic to the point that he thinks he’s the best that’s ever been at what he does just because he’s alive and breathing and so forth. ‘He’s kicking our ass.’ How do you exactly mean that? Do you mean…? Well, you tell me.
CALLER: Well, Rush, you know, he’s forcing people onto the government dole. I mean, people got their hands out that previously would never have had their hands out before. You know, he’s got us feet-down. I mean, every day it’s something different. I feel like I got a knife in my back and he’s twisting it. The latest thing is amnesty for illegals. I mean, every day he’s beating us.
RUSH: I know. Every day you get up and you feel like you are in the trenches of a war. No bullets are being fired but you feel like you’re in the trenches of a war. Well, here’s the thing. That’s why I established a caveat. Whether he is this diabolical deceitful whatever or just plainly incompetent doesn’t matter; the end result is the same. Now, I do not believe he’s naive. I don’t believe he doesn’t know what he’s doing. I’m with you. He’s a Saul Alinskyite. He knows exactly what he’s doing here. That’s what’s so insidious about it. He’s kicking our ass maybe now, but he’s not getting away with it with everybody not knowing what’s happening. There is opposition building up all over this country. And his poll numbers are down, and the independents are abandoning the Democrat Party and they’re worried about it — and for that to be reported in The Politico it’s gotta be even worse than what it really is.
RUSH: John in Hotchkiss, Colorado. Great to have you on the EIB Network. Hello.
CALLER: Hello Rush Limbaugh, greetings from conservative western slope of Colorado.
RUSH: Thank you, sir.
CALLER: It’s a pleasure to speak with you. Rush, on the comment on the prospect of the inflation that our country faces here coming up with the massive debt that we’ve incurred over here the last year… But, anyway, in my opinion — and I wanted to let you know I’m not college educated and I’m also kind of nervous I’m talking to you. It is quite the honor. But we are looking at inflation prospects of 10% for the next few years. Why would a bank want to loan money to anybody when they know the value of the money that they’ve lent is going to be whatever the inflation rate is less as to what they loaned over the life of the loan?
RUSH: Well, that’s a good point, if the inflation happens. I actually read something — it might have been on the New York Post website, I can’t recall it. But somebody said for a multitude of reasons they’re worried about deflation. This particular economist was worried about deflation more than inflation now. But I don’t remember why. But, at any rate, there are many reasons why the banks aren’t lending. A: The only people being lent money are people knowing they can’t pay it back. That is what gave us the subprime mortgage problem. The banks aren’t going to be lending to people that don’t have jobs.
CALLER: That’s me.
RUSH: That’s you? How long have you been out of work?
CALLER: Since February 27th.
RUSH: February 27th. Are you still seeking gainful employment or have you chucked it?
CALLER: Yes, sir, but it’s a little depressed here on the western slope of Colorado. I’m a machinist and it’s amazing that our government isn’t doing anything to help the manufacturing sector. There’s just nothing going on as far as machinists are concerned.
RUSH: Yeah, that’s another amazing thing. Obama was going to fix all this with the stimulus package. I mean, there should have been plenty of ‘shovel-ready’ stuff to do for a machinist like you, even on the western slope of Colorado.
CALLER: There’s nothing right now, quite honestly.
RUSH: Well, it’s all so frustrating to me because all of it is just so unnecessary.
CALLER: You know, I’m 49 years old and in my time — I actually regret this — I admit I actually voted for Jimmy Carter.
RUSH: Well, this may be your payback.
CALLER: Well, yeah, but I also voted for Bill Clinton in his first term. I didn’t in the second term.
CALLER: Payback but —
RUSH: You didn’t vote for Obama, did you?
CALLER: No, I didn’t, sir.
RUSH: All right.
RUSH: You know, I want to give you something. I can hear the stress. I can hear the nervousness. I am going to give you a bunch of HoMedics massagers. They’re one of our best sponsors here. They’re Snerdley’s favorite sponsor, and they are fabulous, and the price is not that expensive at all. They start at $29.99. Hold on for Snerdley to get your address. At least while you’re looking for a job you can get a massage at the same time on us.
RUSH: Actually about inflation: Inflation actually makes debt easier to service with cheaper money. It is deflation that causes debt problems, makes debt harder to pay off with real money. So it’s six of one half a dozen of the other as to which way this is going to go. But everybody would seem to think that all this debt would lead to inflation.