RUSH: I’m sure that we are rolling tape on this. Hillary Clinton’s doing her much anticipated and eagerly awaited speech on the economy. And it’s well timed, by the way. Her speech is designed to portray Trump as an economic novice and neophyte. The CNN/ORC poll that has now taken everybody’s attention away from the… What was it, a Bloomberg poll or Reuters? I can never get this straight. The poll that showed Trump down 11 points last week. Who was it? Was it Bloomberg reported a Reuters poll or the other way? I don’t care what it was.
And to see that the people of this country prefer Trump and the way he would deal with the economy over Hillary 51 to 43, that’s not even close. You’re gonna see a lot of long faces, and you might even hear some of them admit that they are not happy with this poll, that they’re bothered by it. Anyway, Mrs. Clinton’s out there making a speech right now, and it’s just filled with gobbledygook. One of the things she said is that Donald Trump has so little economic knowledge that he has no idea how President Obama and I grew the economy.
Because you haven’t grown the economy. Look at the GDP numbers every quarter. They are revised down. It’s pathetic. There isn’t any economic growth going on. The government’s getting bigger. The government’s collecting more revenue than ever before. But the American people are not earning more, and whatever more they’re earning is being taxed. Then she went on to say that Donald Trump wants to strip away all the protections we have built in to once again make sure the banks can no longer crash this economy by making risky investments, such as the subprime mortgage.
And this is one of the biggest lies the Democrats continue to tell and get away with. The subprime mortgage crisis is traceable right back to Democrats in the Oval Office, specifically Jimmy Carter, but primarily Bill Clinton. They gave it to us. They are the ones still in bed with rich bankers and Wall Street firms.
RUSH: Folks, I’m telling you, Hillary Clinton ought to be the equivalent of a sitting duck in this campaign. If anybody on the Republican/Trump side would just go into this with a little confidence instead of being afraid of her… That’s always been the rub. Since the Clintons came on the scene in the 1990s, everybody has talked about the Clintons as though they fear them greatly. I mean, fear them. Not just worry about them as opponents, but literally fear them. And sorry, I don’t see it. They’re not unbeatable. She’s a walking contradiction. She’s not a good campaigner. She’s not a good candidate.
Here, I just heard something else in the break. She’s out there once again, and the whole theme of the speech is how Trump is economically unfit, temperamentally unfit, a danger and so forth. Part of this is because of the CNN poll showing the public much prefers Trump to deal with the economy than Hillary, 51-43. But she just went out there and said, “Donald Trump made a fortune filing bankruptcies and ignoring creditors.” How did you make your fortune, Mrs. Clinton? Making speeches to bankers.
Now, here’s the thing. To me, Hillary Clinton just got through trashing the banks, right? And she does it every time she opens her mouth. Whenever the economy comes up, Hillary Clinton just trashes the bank. She accused them of nearly crashing the economy. She accused them of being selfish and self-focused. She accused them of taking risks that they should not have been permitted to take and that she will no longer permit them to make those risky things, like subprime loans and so forth.
It’s sitting duck.
Her husband demanded that they do it. Her husband sic’d his attorney general on the banks to comply with the demand that they make loans to people that would never be able to pay ’em back, which is what a subprime loan is. Hillary Clinton trashes the banks every time she opens her mouth, and yet she made $21 million in two years making speeches to those very banks that she trashes every day. Now, you tell me there isn’t some kind of a game being played here? You tell me the fix isn’t in? She just said, “We can’t let Wall Street wreck Main Street again.”
What does that mean? That means she’s gotten all the money from Wall Street she needs for her campaign and her bank account; now she can go out and start ripping them. This is the thing that gets me. This, to me, would be so easily refuted if we had an opposition party. You don’t need just a presidential candidate to do it. The whole Republican Party could be engaged in this. The banks, yeah, yeah. I mean, look, I don’t want to come across as a bank defender here. But there’s cause and effect.
The bankers were doing what the Democrat presidents and the Democrat Party and the Washington establishment wanted them to do. The bankers were forced to implement policies to secure votes from low-income people. That’s all the subprime mortgage was. It was another rigmarole trick to convince the low-income crowd that the Democrats are looking out for ’em. Bill Clinton had a name for this plan. Every American in his own home or the American home or the middle-American DREAM Act or whatever the hell they called it, based on the premise American dream was owning a home.
Well, everybody knows not everybody can afford a home, but that didn’t matter. The fact that everybody couldn’t own a home was one of the signs of how unfair America is, and the Democrats are gonna fix this. And the way they did it was demand that banks loan money, mortgage money, to people who had no way of ever paying it back. And so what did the banks do? They found ways to sell that paper as investments. They packaged out of these worthless loans into something called mortgage-backed securities. They were called brand-new, innovative products in the financial industry.
I didn’t even… I don’t know who they were, and I didn’t know what happened at the time. It was only in retrospect I found out that my mortgage and a bunch of others had been packaged and sold to some other firm, and the way it worked… I didn’t know any of this then. I had no idea what was going on. Didn’t matter. All I had to do was make the payments and nothing from my end was gonna change. But what was happening was they were packaging all these mortgaging and selling them as gigantic pools of guaranteed monthly income, because the odds are that most homeowners are gonna make their mortgage payment ’cause they don’t want to be foreclosed on.
So, it’s considered guaranteed monthly income, so they package these things together. This is presubprime, but it was still happening. So, when the subprime thing came and they were forced to loan money to people that couldn’t pay it — and I barely qualified, and it took some hijinks to do it. But people that couldn’t qualify, their loans were packaged and they were sold unknowingly. It was such a scam, and all done so the Democrat Party can run around and tell the low-income crowd, “We are your champions! We are the ones making these evil bankers be fair with you.
“We’re the ones enabling you to finally own a home and be part of the American dream when normal American capitalism will not permit you to do it because it’s unfair,” blah, blah, blah. “We’re your champion,” and all that rotgut. They used pressure, the threat of government sanction against banks to make them comply. I don’t want to portray the banks as entirely innocent here. There’s enough guilt to go around by the time you get Fannie Mae and Freddie Mac. But, look, all this stuff rises to the top of my anger reservoir when I hear Mrs. Clinton talk about it, and she does a lot.
But this is what the game is. What galls me is that she gets away with running around ripping these people as though they are her number-one enemy that she’s got to attack in order to defend the average Democrat voter. They throw the average Democrat voter overboard every day! They condemn them to poverty; they keep them in poverty. It’s absurd. It’s obscene what the Democrat Party gets away with. Go talk to any Democrat constituent. Go talk to African-Americans. They’ve been loyally voting Democrat 50 years. Ask them how it’s been working out for ’em.
Seems to me they’re angrier than ever. Seems to me they’re more divided than ever. And every group in this country, ditto, particularly if they’re voting for the Democrat Party, ’cause Democrats are promising them utopia. They’re promising them unity, they’re promising ’em it all, and it’s nothing but getting worse. Because they’ve done such a successful job of demonizing Republicans and conservatives, their voters stay with them on the premise that the only chance they’ve got is the Democrat Party. Twenty-one million dolalrs! She’s out there attacking Trump for making a fortune filing bankruptcies and ignoring creditors?
She makes a fortune by strong-arming people and selling access to her future presidency. I have to think… I could be wrong. I have to think if some of these low-information people… I know I could be wrong, but as she starts beating up on these bankers and trashing them and blaming them, what do you think would happen if someone had a massive information campaign to make sure that every Democrat voter knew she made $21 million in two years making speeches to these people? What you think would happen if we could successfully inform all of these Democrat voters that she and her husband and the entire Democrat Party are in bed with these bankers?
She’s not smart.
She’s wrong on everything she believes.
Why isn’t that a factor?
Screw experience! She’s wrong on everything. She’s dangerous. She hasn’t done anything to earn this job, other than be Mrs. Bill Clinton and be loyal by making sure the things he’s done outside the home have not come back to haunt him or her or the Democrats. That’s why she’s running for president, plus it’s the quest for power that the Clintons all have. Anyway, the CNN poll shows that despite all this, Trump is preferred dealing with the economy 51 to 43.
And as we go through the program today, you’re gonna hear some CNN infobabes talking about it, saying, “No, this is not good!” This whole CNN poll, despite how they’re trying to turn chicken you-know-what into chicken salad, they know it’s not chicken salad. They know that there are big problems. ‘Cause Mrs. Clinton ought to be already elected, based on their assumptions and views of Trump and the campaign as it has developed up ’til now.
RUSH: Trump has been tweeting all during the Hillary speech. Trump is his own rapid response team. He doesn’t need a campaign manager to do this stuff. Well, I say that; I’m looking at some of these tweets and they’re okay, but they could be better. They could be better. Somebody should have been tweeting what I was saying.
RUSH: Let me share with you some of the tweets that Trump fired off during Hillary’s speech. And, again, we were rolling on it.
We’ll have some audio highlights of it. It was outrageous. It was a typical Hillary/liberal Democrat speech on economics. It was as wrong — and, frankly, as dangerous as it could be — and it mischaracterized Trump, and it mischaracterized the opponents of Democrats and what they want to do. It’s the same old thing. Hillary and the Democrats are gonna protect the poor and the middle class while they’re putting them out of work. They’re putting coal miners out of work. They’re putting union workers out of work.
“Hillary Clinton surged the trade deficit with China 40% as secretary of state, costing Americans millions of jobs.” “How can Hillary run the economy when she can’t even send emails without putting the entire nation at risk?” “Hillary Clinton’s open-borders immigration policies will drive down wages for all Americans and make everybody less safe.” “Obama, Clinton inherited $10 trillion in debt and turned it into nearly $20 trillion. They have bankrupted…” That’s an Instagram, by the way. And the last tweet that I have that Trump sent out: “I am the king of debt.
“That’s been great for me as a businessman, but it’s bad for the country. I made a fortune off of debt, but I’m gonna fix America.” Now, she ripped into him for bankruptcies and ignoring creditors and so forth and that kind of stuff. “Yeah, yeah, that’s been great for me as a businessman.” Debt is one of those things. Depending your position and your creativity and your guts, debt is something that you can… A lot of people… You know J.P. Morgan, John Pierpont Morgan? You ought to read about this guy, J. P. Morgan of JPMorgan Chase. J.P. Morgan was, at one point, the richest man in the world.
When the United States government needed money — when the Treasury need money — they went to him. And he was one of the biggest believers in debt, other people’s debt, that you could ever have. Everybody and their uncle owed J. P. Morgan. He was such a huge believer in debt — other people’s, not his. But in some cases. You know what debt is at its essence? It’s other people’s money. And if you have the ability, sometimes going in debt is a cheaper way to acquire and spend money than spending your own. Apple Computer, Apple Inc. is a classic example. Apple is paying dividends.
But for them it’s cheaper to sell bonds, to sell debt in Taiwan and other parts of Asia in order finance their buybacks rather than go into their own stash because of what would happen to the growth rate of their stash, their growth rate combined with whatever they’re earning off of it. If they reduce the principal, which is what they’d be doing, then they would slow the growth rate of that stash. Plus they can’t bring… They can’t use any of the foreign money or buybacks. So it’s really not $200 billion they have. So they issue bonds and debt twice a year every time they want to up their buybacks and pay dividends.
And they end up making money out of it because Apple is considered to be such a golden place that people run out and buy that debt. They run out and buy the bonds that Apple ends up issuing. So it’s an example here. If you know what you’re doing, and you have the ability, you can make huge money borrowing it, using other people’s money. Unfortunately, it’s not everybody that can play that way. But if you’re suited, if you’re financially set in certain ways, then you can do that, and it makes all the sense in the world. So that’s what Trump means. You know, he’s made a fortune off of it.
But the United States government is not an entity that operates like a business in that sense. So debt for the United States is horrible. It’s damaging in so many ways, and eventually it’s gonna come due. And that’s all that he is acknowledging. Let’s go to the Trump audio sound bites, and in doing so, we’ll get some of the information in the CNN poll that has so many in the Drive-By Media upset today. This is the Today show today. Trump was there, and they’re talking about the firing of Lewandowski.
TRUMP: I have to be who I am. I don’t want to be a phony like a Hillary Clinton where she reads stuff that’s written up by high-priced talent. I don’t want to be that. I want to be what I am. New polls just came out, and I’m right there. With the horrible few weeks I have with the press — I mean, the press is treating me unbelievably unfairly. And, with all of that bad press that I’ve had over the last couple of weeks — believe me, that’s manufactured press a hundred percent. I’ve had days where they should have been good deals and good days, and the press comes out negatively. With all of the press, I’m right there in the polls.
TRUMP: CNN just announced the poll. I’m right there.
RUSH: Well, he’s right. The CNN poll, it shows Hillary up. I’m not… Don’t misunderstand. But, remember, we’re measuring two things. There was a poll — the poll prior to this, whenever it was, last week or late the week before — that was devastating for Trump, and overall it had him down 11 and her losing ground. The CNN/ORC poll is an entirely different thing. It’s got him tied with her in certain states. In the battleground states, he’s looking good, and the largest margin she has anywhere is three points, and when you get down to that question on the economy, who better to deal with the economy, Trump kills it 41-48.
And it’s not good for Hillary based on where they think they should be. Look, they think they’re running against an absolute idiot. They think they’re running against a guy that know what he’s doing, who’s gonna step in it, put his foot in his mouth three or four times a day. He doesn’t have a campaign staff of anybody with experience on it. He’s not got any money; he hasn’t fundraised. By all accounts, using the standard, everyday political playbook, the guy ought to be defeated by now. It’s all over but actually having the election. She ought to be so dramatically ahead.
The contrast ought to be so clear, and it isn’t. And, remember, these are the people who believe you win it all in June. They’re even being open in saying that. And they have not put Trump away in June. And, believe me, the money… To people that live and breathe in this political world, money is the defining factor on everything. It’s not issues; it’s not policy. That comes second. It’s money. He who has the money is gonna win the day, and particularly he or she who has the money right now wins the day. And the way that manifested four years ago is a good example.
He didn’t have the money to respond to it and didn’t, and therefore the Democrats believe they defined Romney and won the election in June. That’s when they had him not caring about the family dog on the roof of the station wagon. That’s when they had him not caring that some employee’s wife died of cancer. That’s when they had him doing bully tricks in boarding school. That’s when they had Romney characterized as a rich guy that doesn’t care about anybody else, distant and aloof and acknowledges that 47% of the country hates his guts.
All of that stuff happened in June. So they believe that’s where they won the election, and they thought that was gonna happen this year ’cause Trump doesn’t even have any money. Even if he had it, they still think he could win. But he doesn’t have it, so he can’t possibly respond. Another rule of thumb that they’re saying is — and I think you have to throw this out, at least a certain extent, because Trump is not parts of the standard, daily political, procedural playbook.
It’s one thing they don’t get through their heads. But if you have two professional politicians, and they’re playing it by the book — meaning they’re running campaigns based on what their consultants tell ’em they have to do and when they have to do it — then one of the paramount objectives, in addition to defining your opponent in June, is… It just slipped my mind. What is it? You know what? This is an important point, and I’m not gonna vamp you here while I try to recall it. Let me take a break, and it will come to me, ’cause it’s along the same lines as defining your opponent in June. There are certain… Oh, it’s on the verge, tip of my tongue.
RUSH: Okay. Just got the Hillary Clinton sound bites, so we gotta work those in here. The second point that I was gonna make — you’ve heard this, and this is SOP, Standard Operating Procedure in traditional presidential campaigns. And I’m sure that it’s relevant. And it’s this: Once you got past the primaries and into the general, nationwide campaigning is a waste of time and a waste of money, because all that matters is the presidential campaign is winning states. Therefore, Trump can no longer… This is the theory. Trump can no longer rely on being on 15,000 different televisions shows every week.
Trump is gonna have to do some of that. But the idea that it’s a waste of time for Trump to continue to do all this media, that’s bogus as well. That’s what got him here. I ran in lot of Trump fans over the weekend, I was out in California. You know what the most disappointing thing they were facing…? Not facing. They were experiencing a little letdown, and you know what it was about? They missed Trump. They like these Trump events. They like turning on the TV, watching Trump make his speech and going out and hit whoever he’s hitting. They haven’t seen him in four weeks. All of they’ve seen is Trump go after the Mexican judge, and it’s let them down a little.
And it’s led them to fall prey to the media mantra that Trump’s run his course, there is nothing more, Trump doesn’t have any money, doesn’t have any professionals running his campaign, that he’s basically run out of energy and he’s run out of Moxie and so forth. And there was a lot of grumbling amongst a lot of Trumpists, and so I think that’s how it manifests them. I heard them say, “I wish Trump would go out and be Trump.” I asked them pointblank: “Is what you miss the show?
“You just miss Trump being on TV, taking it to people and doing what he did in such an unconventional way, or do you actually miss the substance of what he was doing?” And they said, “Well, both. But I had one guy who said, “The first part is crucial to who he is, Rush!” Look, it is a show. There’s no question that Trump’s voters are an audience. There’s no question it’s a show. He’s got to keep that up. Do you guys agree with that? You are Trumpists in there is, and… (interruption) Some of them are. They’re nodding their heads in agreement.
Okay, if you believe that, then you would also agree that Trump would not hurt himself if he kept doing that kind of thing? The Drive-Bys are trying to talk him out of doing that and getting… You know, go out and hire the next consultant you can have. Go out and hire a professional. Go out and hire a manager, and then raise money and spend it in these states and run a campaign like everybody else has run a campaign. And Trump’s instincts are not to do that, and I think he’s got a faith. It’s what I’ve always said: He’s got to be who he is. It is a business. It is a business, and it has its requirements, but it’s also evolving. Politics and showbiz are becoming more and more linked by virtue of our cultural evolution.
RUSH: All right. Look. I gotta do it. I gotta give you flavor of Mrs. Clinton’s speech trashing Trump and the economy today. We’re gonna start. Grab sound bite number 22. She was in Columbus, Ohio, and this was a highly touted speech on the economy. A subset of it was an attack on Trump and his lack of qualification to be president, his lack of temperament and his economic ignorance and incompetence. So that was what the subject was. And here’s the first. We actually have one, two, three, four, five of these things. I don’t know if I can stomach that many, but here’s the first…
RUSH: Stop it here. Recue that. I want you to remember now, for the last 7-1/2 years, Barack Hussein O and the Democrat Party have been running this economy and running this country with virtual no opposition from the Republicans. And you’re gonna listen and you’re gonna think — if you don’t know any better — that her party’s had nothing to do with anything, that a Republican may as well be president. It’s that bad, and we need to elect her to fix all these things that have gone wrong. But don’t forget when you listen to this who the president is and what party it is that has been running this show and this economy and everything else pretty much into the ground.
HILLARY: People are working harder and longer just to keep their heads above water, and to deal with the costs, the everyday costs — the costs of basics like childcare and prescription drugs that are too high. College is getting more expensive every day, and wages are still too low, and inequality is too great. Good jobs in many parts of our country are still too hard to come by! Now, these problems are serious, but I know we can overcome them together. I really believe in this country because I believe in the American people.
RUSH: Ah, what a crock.
HILLARY: America’s economy isn’t yet where we want it to be.
RUSH: Really? After 7-1/2 years, and you’re not proposing anything different? You’re just gonna continue what’s been done? I mean, I think she’s undermined her whole premise right here at her open. She admits that the economy the Democrats have been running for eight years is a disaster. Nobody can get a job they want. Nobody’s wages are going up. There’s nothing to recommend her because she is an agent of consistency. She’s not gonna do anything differently than what got us here. But the media isn’t gonna point this out. People say, “Yeah! Yeah! You go Hillary! We need to improve the…” They’re not gonna stop the (unintelligible), but it’s her own philosophy — liberalism, socialism, communism, whatever it is — that got us here.
So with that in mind, here’s the next. Get this one…
HILLARY: Just like he shouldn’t have his finger on the button, he shouldn’t have his hands on our economy.
FOLLOWERS: (applauding and hooting)
RUSH: Why? They’re pretty big hands, I think.
HILLARY: Now, I don’t say that because of typical political disagreements.
RUSH: We’re not even out of it yet. This is the thing. We haven’t even gotten to a real recovery. There has not been a real recovery. You can’t convince me that we’ve got a real recovery when 94 million Americans are not working and the number gets added to every year. But you see, “Hey, don’t just believe me! Don’t believe me. Elizabeth Warren agrees with Mitt Romney, and the Republicans and the Chamber of Commerce, they also think this!” You know, what the way to translate this is? “We in the establishment — Mitt Romney, Chamber of Commerce, Elizabeth Warren all of us in the elite establishment — we think an outsiders like Trump would be an absolute disaster.”
Here’s the next Hillary sound bite…
HILLARY: Over the years he has said all kinds of things about women in the workforce. He once called pregnant employees — and I quote — “an inconvenience.” He says women will start making equal pay —
HILLARY: — as soon as we do as good a job as men — as if it weren’t already.
RUSH: That’s a —
HILLARY: He clearly doesn’t know much about how we have grown the economy over the last 40 years, which is largely thanks to women getting into the workforce and adding to family incomes.
RUSH: Oh, man, what a sitting duck, hanging curveball that comment is. You want me to take a stab at it? All right. (impression) “Over the yeeears he has said all kinds of things…” Actually, she’s not sounding shrill. I probably ought to shut up about that so she goes back to it. Anyway, “Over the years he’s said all kinds of things about women in the workforce.” He only puts them in the most powerful positions in his company, Hillary. The woman that built Trump Tower, who ran that projec, where he lives? A woman. A woman. Women are all over Trump’s organization, and they’re paid much more than you pay them in your office, Hillary.
I mean, it’s not even close, Hillary.
Women in Hillary’s office make 70% what men do. (impression) “He once called pregnant employees — and I quote — an inconvenience.” “He said women will start making equal pay as soon as we do as good a job as men.” You don’t pay women equally, Hillary! This has been documented. Women in Hillary’s Senate office, campaign office — where she’s paying them and they’re not government salaries — make 70, 75% of what the men do. “He clearly doesn’t know how about how much we’ve grown the economy the last…”
Hillary, you haven’t participated in economic growth. You have opposed everything that led to economic growth, starting with Ronald Reagan in 1980. You have opposed everything that led to growth, unless you want to define tax increases as “growing the economy,” which is largely thanks to women getting into the workforce. Why did women get the…? She wants to claim feminism for this. You know why women got in the workforce? You want know they really got in the workforce? Because of the need for two incomes because of Democrat Party income tax policies and other taxes. That’s why!