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RUSH: We got another stimulus! Another stimulus. What are we gonna do? Build roads. That was the first stimulus, approaching a trillion dollars. That was to build roads, infrastructure, schools and so forth. Now we got another $50 billion to do the same thing. And it’s just another sop to the unions. It’s just another union buyout, it’s just another slush fund. And even the Democrats are starting to ask, ‘What is this guy doing to us?’ And, of course, the State-Controlled Media, the partisan political operative media, is all worried about the Democrats.

It’s fine to them to be worried about them, but Obama is not. This is what they don’t get. Obama doesn’t care what happens to the Democrats. He cares about what happens to him. What Obama knows is things are gonna get worse before they get better because that’s what he’s engineered, and he can’t blame the Democrats for it after the elections in November; he needs the Republicans to blame. And he knows he’s going to have the media chiming, ‘Oh, yeah, it’s all Boehner’s fault. It’s all Bush’s fault. It’s all Eric Cantor’s. It’s all Limbaugh’s fault. It’s all Beck’s fault. It’s all Palin’s fault.’ That’s what the modus operandi is going to be, but he needs the Democrats to lose out there.


BREAK TRANSCRIPT

RUSH: Here’s President Obama. This is yesterday in Milwaukee, AFL-CIO, Milwaukee Laborfest, a portion of what President Obama said.

OBAMA: Now, anybody who thinks that we can move this economy forward with just a few folks at the top doing well hoping that it’s going to trickle down to working people who are running faster and faster just to keep up, you’ll never see it. If that’s what you’re waiting for, you should stop waiting ’cause it’s never happened in our history. That’s not how America was built. It wasn’t built with a bunch of folks at the top doing well and everybody else scrambling. We didn’t become the most prosperous country in the world just by rewarding greed and recklessness.

RUSH: So the real Obama surfaces now. This is an angry guy. We’ve always said he had a chip on his shoulder. He’s ticked off; he’s mad; he’s angry; he does not understand American history and, of course, his entire economic program depends on ‘trickle down.’ This guy is proposing — what’s the latest now? — some big tax cut for small business? Why? Small business isn’t going to go for this. This is another mirage, another come-on. One of the big problems with the economy is that for 19 months we’ve had no tax policy. Nobody knows what the tax policy is going to be. We’ve had Obama convening a deficit reduction panel, and we’re waiting for their sterling report in December. Where’s the tax cut panel? Where’s the tax policy panel? What in the hell does he hope happens with this small business tax cut? Does he not hope that small business, which in Obama’s world is made up of a bunch of rich people, make no mistake about it — anybody in business is a cretin to him, small business, large business, corporate, anybody in business is a suspect, as far as Obama’s concerned. But he hopes to give ’em a tax cut so they’ll do what? So that they will hire, so that they will expand their business, so that there will be trickle down and people will benefit from it.

I mean, this is childish. Everybody talks about how smart Obama is, how brilliant he is. This is embarrassingly shallow, this comment. (imitating Obama) ‘Anybody who thinks we can move this economy forward with just a few folks at the top…’ This is 150-year-old rhetoric. Would somebody tell me who is advocating that only the rich do well? Would somebody tell me where that policy is? Would somebody tell me who’s put that policy or that piece of legislation on the table that only the rich are going to do well, that we need our valiant president fighting against? Who are these people proposing only the rich do well? It seems to me that under Obama only the rich are getting richer, including his union buddies, including his Wall Street buddies. He sits up here mouthing this class envy rhetoric that is embarrassing. People are waiting for trickle down. How the hell does he think jobs are going to be created? People are waiting for trickle down. They are waiting for economic expansion.

And, by the way, interesting story here in the Wall Street Journal. It’s a blogger, but I don’t have the name. ‘In July, I blogged about a study that revealed subtle links between money and happiness.’ Anyway, here’s the bottom line of this. The perfect salary for happiness is $75,000 a year. Yep. ‘As people earn more money, their day-to-day happiness rises. Until you hit $75,000. After that, it is just more stuff, with no gain in happiness. … The study, which analyzed Gallup surveys of 450,000 Americans in 2008 and 2009, suggested that there were two forms of happiness: day-to-day contentment (emotional well-being) and overall ‘life assessment,’ which means broader satisfaction with one’s place in the world. While a higher income didn’t have much impact on day-to-day contentment, it did boost people’s ‘life assessment.’

‘Now we have more details from the study, conducted by the Princeton economist Angus Deaton and famed psychologist Daniel Kahneman. It turns out there is a specific dollar number, or income plateau, after which more money has no measurable effect on day-to-day contentment. The magic income: $75,000 a year. As people earn more money, their day-to-day happiness rises. Until you hit $75,000. After that, it is just more stuff, with no gain in happiness. That doesn’t mean wealthy and ultrawealthy are equally happy. More money does boost people’s life assessment, all the way up the income ladder. People who earned $160,000 a year, for instance, reported more overall satisfaction than people earning $120,000, and so on.’

The point of this is what? For those of you who resent the rich, just keep in mind they’re not happy. The Wall Street Journal, of all places for this to appear, says: Yeah, after they earn 75 grand they’re not happy anymore. So if you hate the rich, stop hating ’em. Be happy because as they earn more than 75 grand they get miserable, exactly what you want. The left wants us to hate the rich. The left wants us to despise ’em. But we shouldn’t ’cause they’re miserable after 75 grand. Who believes this? Nobody. Not a single person will believe this.

This comes a day after Obama’s mindless, meandering, wandering, incessantly stupid comments to these union idiots in Milwaukee. ‘America wasn’t built with a bunch of folks at the top doing well and everybody else scrambling. We didn’t become the most prosperous country in the world by just rewarding greed and recklessness.’ So what the hell are you, sir? You’re flying off on vacations to Martha’s Vineyard paid for by somebody else! Air Force One is paid for by us. To me, ladies and gentlemen, the greed in this society is to be found in Washington DC by people who are using other people’s money to increase their own lifestyles. We were supposed to be postracist, postpartisan, post this, post that.

BREAK TRANSCRIPT

RUSH: Something else Obama said. He said he can’t run around with his birth certificate plastered on his forehead or something like that, right? Is that what he said? Something like that? Well, now, okay, he might not have been born in Kenya, but he certainly is one of the best Keynesian economist believers that we have ever seen. Can you imagine going up and talking about greed to a bunch of union members? Criticizing greed with a union audience? How do you do that? How do you criticize greed when you’ve got Richard Trumka standing there right next to you? (laughing) (interruption) How is the media going to be able to choose the tweak?

We haven’t even scratched the surface on tweaks yet. I mean this business of talking about greed in front of an audience of union people? And how about this number 75 grand and anything over that you’re miserable? Well, we know that union members, particularly government workers, make twice as much as people in the private sector. The average… When you take all the compensation and the benefits package, the average government worker makes twice, over a hundred grand, what the average private sector worker makes. A hundred grand’s larger than 75. We can therefore conclude that a lot of these union members and government workers are not happy. They make more than 75 grand. We have a perfect excuse to save a lot of money. Cut budgets just by cutting every government salary down to $75,000 a year now and make ’em all happier. There’s no increase in happiness or contentment beyond $75,000 a year.

BREAK TRANSCRIPT

RUSH: Parker, Colorado, Leslie, welcome to the Rush Limbaugh program. Nice to have you with us.

CALLER: Hey, Rush. What a pleasure. I just had a comment about Obama. I am getting so fed up with hearing him talk about greed this and all these people are bad that run companies and executives and rich people and people at the top. And I want to know, how much more at the top can somebody be than president of the God blessed United States of America? How much is he worth now, five or six or seven million dollars? I want to know when is he going to give up a piece of his pie so I can have some more. I can’t take $50,000-a-night (sic) vacations on Martha’s Vineyard. That’s more than a year’s salary for me and most of the other people in this country.

RUSH: Well, you see, your point is well taken. But as a member of the elite ruling class —

CALLER: Yeah.

RUSH: — Obama and his people are entitled to their economic positions because they are special people. They are the ruling class. They are thus exempt from all of the rules that they make for everybody else and all the criticisms they make of everybody else.

CALLER: Oh, I understand that, but does he really think people are falling for that? Does he really think people don’t see that he is the biggest hypocrite that —

RUSH: The people he cares about are falling for it, the unions. They’re animated by it. Class envy and hatred of the rich is something that a lot of Democrats have lived off of for a long time. It’s hard to say that Obama’s winning anything, though.

CALLER: Yeah.

RUSH: Everything he believes in is trailing in the polls.

CALLER: They’re like some of the richest people in the world. Look at the millions, how many billions is Clinton worth now and then Obama, you know, like he’s got earning potentials out the wazoo now that he’s been president, you know, so I just don’t get it. I mean I really don’t get it. I don’t get how people in this country can be so blind to what’s right there in front of their faces. We see it over and over and over again with people.

RUSH: Well, then ask yourself how did the Kennedy family get away all of those years with being filthy rich? All they had to do was grow up and inherit it. They were always exempt from all the talk about the filthy rich, all of the limousines and the fat cats, how did the Kennedys exempt themselves from it? What did they do to be exempt from the resentment of, the hatred for the rich?

CALLER: They lie.

RUSH: Well —

CALLER: I don’t know. I guess they just attract people with their aura.

RUSH: No. They supposedly devote themselves to the causes of the poor.

CALLER: I know.

RUSH: Therefore they are — (crosstalk)

CALLER: — to the rhetoric.

RUSH: They’re said to be compassionate.

CALLER: Yeah.

RUSH: And they’re said to be caring and understanding, so that’s how they exempt themselves. I want to go back and play the sound bite that she’s all upset about, in case you missed it. This is yesterday in Milwaukee, AFL-CIO, Milwaukee Laborfest. This is Obama standing up there with Richard Trumka, and I mean this is just sophomoric. It is juvenile, for the president of the United States to speak this way.

OBAMA: Now, anybody who thinks that we can move this economy forward with just a few folks at the top doing well hoping that it’s going to trickle down to working people who are running faster and faster just to keep up, you’ll never see it. If that’s what you’re waiting for, you should stop waiting ’cause it’s never happened in our history. That’s not how America was built. It wasn’t built with a bunch of folks at the top doing well and everybody else scrambling. We didn’t become the most prosperous country in the world just by rewarding greed and recklessness.

RUSH: No. America was built by people at the top taking great risk. They pledged their lives, fortunes, and sacred honor to the founding of the country. America was built by people at the so-called top taking great risk, and they brought along with them people at the so-called bottom who then earned their way to the top. And the cycle repeats and repeats and repeats.

I want to go back to August 1st of this year. This is an AP story: ‘As Spending by Wealthy Weakens, So Does Economy.’ Remember this? ‘Wealthy Americans aren’t spending so freely anymore. And the rest of us are feeling the squeeze.’ This is Jeannine Aversa, AP economics writer. ‘The question is whether the rich will cut back so much as to tip the economy back into recession — or if they will spend at least enough to sustain the recovery.’ So here is our dummkopf little imam child president, Barack Obama, railing against the rich. (imitating Obama) ‘America wasn’t built by greed and recklessness, greed, if you’re waiting for trickle down, well, you’re gonna be waiting…’ ‘Wealthy Americans aren’t spending so freely anymore. And the rest of us are feeling the squeeze. The question is whether the rich will cut back so much as to tip the economy back into recession –‘ It sounds to me like that if the rich stop consuming out there then the rest of the economy sinks. I really have to rein myself in here when talking about this man, because such sophistry, he’s just a blithering novice. He’s nothing but an academic theoretician who has no practical, real experience in the world he is talking about.

Everything he believes and everything he has put his emphasis on is failing left and right. Every theory that he has subscribed to for job creation and economic revitalization has done just the opposite. We’re looking at a one-man wrecking crew, and he’s here in Milwaukee and he is talking to a bunch of union thugs and he dares to tell the rest of the people in the country that he and only he can tell them what they need to do to wait around for the economy to revive, when everybody in the world knows that the single best thing that could happen for this economy is to get him out of any position of power to run it. Pure and simple. So to have to sit here and be lectured to by the wrecking ball, as somebody who doesn’t have the slightest idea what he’s talking about, he’s a community organizer, he’s nothing more than an agitator. He’s so henpecked that when he leaves the house for dinner he goes and gets burgers because his wife is making him eat watercress. I better take a break. I was hoping to come back and ease into this stuff by maybe Thursday, but, hell.

BREAK TRANSCRIPT

RUSH: In Detroit, this is Jean, nice to have you on the program. Welcome.

CALLER: It’s Jeana. Hi, Mr. Limbaugh, nice to talk to you.

RUSH: Thank you very much. I’m sorry for mispronouncing it.

CALLER: That’s okay.

RUSH: I just pronounced it phonetically.

CALLER: No problem. My family and I, we were a Chrysler dealer, the only Chrysler Jeep dealer in the whole city of Detroit, and we were one of the top 33 in the country, and for whatever reason we were —

RUSH: Hold it a minute. Whoa, whoa, whoa. You just said something hard to believe.

CALLER: Yes.

RUSH: Your family —

CALLER: Yes.

RUSH: — the only Chrysler dealer in the whole city of Detroit?

CALLER: The only Chrysler Jeep dealer in the whole city of Detroit, yes.

RUSH: In the whole city of Detroit there was only one Chrysler Jeep dealership?

CALLER: Correct.

RUSH: And then Obama took ’em over. Is that what you’re getting at?

CALLER: Well, whomever, you know, there’s many speculations out there who decided to close us down. Most of it has been that the government was the one who came in and said that there were too many dealers —

RUSH: Yeah.

CALLER: — even though, you know, us dealers did not cost the corporation, Chrysler, any money, and that was proven but they still decided to close us down. We had 28 days to sell all of our cars and all of or parts, you know, at a huge loss. And I think our story has gotten lost amongst all of these. I mean my father started that business in 1979 when Chrysler was Lee Iacocca, you know, didn’t know what was going to happen. We built an amazing business, we were thriving, like I said, we were number 33 in the country, and then to be cut off at the knees and be stuck. I have ten acres of property in the city of Detroit, which, you know, clearly —

RUSH: Okay, but why do you think they shut you down?

CALLER: It was definitely political. It was definitely political here in Detroit and —

RUSH: But based on what?

CALLER: — Washington.

RUSH: Based on what politically? Were you Republicans?

CALLER: Yes.

RUSH: Did you not contribute to Democrats, is that what it was?

CALLER: We were Republicans and, you know, they have their favorites. And so, you know, there were 13 of us shut down here in Detroit, and our franchises were given away to their friends.

RUSH: Do you still own the property?

CALLER: Yes.

RUSH: Well, maybe you could turn it into a farm like they want to do with the rest of Detroit.

CALLER: Well, yeah, wouldn’t that be nice but I was an automobile dealership so there’s oils and tanks and environmental issues. I would love to do that but I still have the DEQ coming after me for environmental issues.

RUSH: No Chrysler dealerships in Detroit now, not even one, in Detroit?

CALLER: I was the only one. They gave it to another guy and he is now there and so now he is the Chrysler Jeep and Dodge dealer in Detroit.

RUSH: I got it. Sell your property to a school that would be named after Algore. They just built a school in LA on a toxic waste dump named after Algore. You could sell your property to the Detroit school system and they could build a school there named after Algore, Jesse Jackson. You gotta think positive in these circumstances.

BREAK TRANSCRIPT

RUSH: Fred in Jacksonville, Florida, welcome to the Rush Limbaugh program. Nice to have you with us, sir. Hello.

CALLER: Hello, sir. Privilege is all mine.

RUSH: Thank you.

CALLER: Well, you know, Krugman is probably an operative for the Tea Party if you ask somebody from the left.

RUSH: (laughing) Yeah, an operative for the Tea Party because he’s ripping into Obama.

CALLER: Exactly. And they’re a racist organization, we all know that, I mean, you know, I am a proud member. That article you talked about earlier about people being happy making $750,000.

RUSH: No, no. It’s a Wall Street Journal piece that says once you get to $75,000 a year you don’t get any happier no matter how much more than that you make. Your happiness and contentment peaks at $75,000 a year.

CALLER: I think, you know, if you look at it a certain way, it feels like to me what they’re basically saying is that regardless of your income level, regardless of what you make or how much you have now, as long as we, the imperial federal government and the Obama regime are kind enough to leave you with at least $75,000 a year, no harm, no foul, you’re going to be just as happy, don’t worry about a thing.

RUSH: I have a different take, although that’s a valid take, it’s a very valid take. I have a different take and that is since the opportunity for you to earn $75,000 a year or more is about over, just understand it wasn’t a big deal to do it anyway ’cause you’d have been miserable.

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