Obama: Unemployment Benefits Will Create More Jobs Than Keystone Pipeline
December 09, 2011
RUSH: From TheHill.com: "A pending legislative package to extend the payroll tax credit and unemployment insurance will create more jobs than the approval of the Keystone pipeline, Obama said yesterday. 'Here's what I know,' he said. 'However many jobs might be generated by the pipeline, they're going to be a lot fewer than the jobs created by extending the payroll tax cut and extending unemployment insurance.'" In fact, here's the president saying that. This was this morning, actually, in Washington talking about this.
OBAMA: I know that, eh -- the -- the suggestion right now is that somehow, "Well, this Keystone issue, uh, will create jobs." That's being determined by the State Department right now, and there is a process. But here's what I know. However many jobs might be generated by a Keystone pipeline, they're gonna be a lot fewer than the jobs that are created by extending the payroll tax cut and extending unemployment insurance.
RUSH: That's another lie. The Keystone creates pipeline 20,000 jobs immediately up to a half a million. Unemployment benefits create jobs? (laughing) Think of that. Unemployment benefits create jobs. What was it that Pelosi said the return was? For every dollar spent on unemployment benefits, the economy grows by a buck and a half or two dollars or whatever? I mean, it's absurd. It's literally absurd. Unemployment benefits? Where are all the jobs created? We've had the payroll tax holiday for a year. There aren't any new jobs being created.
The unemployment number is getting smaller because the universe of jobs is if we go to smaller. They're just simply shrinking it. But I mean the answer to this is, "Mr. President, do both! If you're focused like a laser on jobs, do both. What is this straw man you continue to construct? What is this either on? Why not do both! We need jobs; you say you're laser focused on jobs; you understand people want to work. Why not do both, Mr. President?" and it's like I said yesterday, the pipeline project brings campaign contributions from both sides of the issue: The environmentalist wackos and the oil interests. They are both sending money to Obama hoping he decides in their favor. If he decides now, he cuts off half of that money -- and everything he's doing is about his reelection and nothing else.
RUSH: Check this story from the AP. "Americans' wealth last summer suffered its biggest quarterly..." In fact, this is a double whammer day for Obama, because the army has announced job cuts of 8700. Do you realize what a celebration is going on in the White House today? Eighty-seven hundred Army jobs in the Pentagon cut, buyouts, attrition, what have you, 8700 jobs cut! My God, how happy can Obama be? And then this news.
"Americans' wealth last summer suffered its biggest quarterly loss in more than two years, as stocks, pension funds, and home values lost value." The 1% got hurt. Those evil SOBs are finally having it stuck to 'em. "Household net worth fell 4% in the July-September quarter, according to a Federal Reserve report released yesterday. It was the sharpest drop since the tumultuous period after the September 2008 bankruptcy of investment bank Lehman Brothers." Speaking of that, how many of you went out and rented the movie Margin Call on my recommendations. Did you like it, did you watch it? Yeah, I should tell you this movie is patterned after Lehman Brothers, but Lehman Brothers was allowed to go belly up. They didn't bail it out. We don't know that that happens to this fictional firm in the movie Margin Call but it's loosely based on Lehman Brothers.
This is the AP here, folks, which has been on Obama's side. We gotta go after that 1%. We gotta stick it to 'em. We have got to roast them. The 1%, why, the rich, they're to blame for everything. By the way, could somebody tell me what tax cuts from Jimmy Carter caused the misery index to go sky high? What Jimmy Carter tax cuts caused that depression? Somebody tell me what tax cuts in Italy, Spain, and Greece caused the problems that they're in? What tax cuts? Well, there aren't any tax cuts in the Carter years, or in Italy, Spain, or Greece, but Obama is claiming the tax cuts -- George Bush tax cuts and any other tax cut that the rich have gotten -- are the reason we're in this economic mess. You know, the tax cuts did it. Lower net worth can hurt the economy, AP says? Whoa, whoa, whoa, I thought lower net worth was what we were after. I thought we were gonna soak it to 'em! I thought we were gonna make the rich pay, and now it's an Obama Christmas because the rich have lost some of their net worth.
I thought that was good news.
RUSH: Yep, it's a Democrat Christmas, the rich got poorer. But I thought that was good, I really thought that was the objective. The wealth gap shrunk, yeah, and the way Obama wants, the rich get poorer. Democrats never want to elevate people at the bottom, they just want to shrink it from the top. But then AP says here, I'm confused, "Lower net worth can hurt the economy." (gasping) You mean the rich getting poorer can hurt the economy? Let's read further. "When people feel poorer, they spend less." Oh, so the rich are feeling poorer because they are poorer. Okay, let's keep reading. "That slows growth." Really? "Lower net worth can hurt the economy." That's the thesis. "When people feel poorer they spend less. That slows growth." Oh, I see, that's exactly what Obama's after. That's what he's after, slower growth. AP just doesn't get it. Ah, okay. Okay. "Businesses typically then cut back on hiring."
So after three years of the State-Controlled Media following the regime's lead, attacking the rich, trying to support any policy that would take money away from them, now the rich are getting poorer, and all of a sudden AP is concerned because that slows growth, businesses typically cut back on hiring and expansion, people are spending less, so this is not good, according to the AP. It is perfect for Obama and the Democrats, I mean it is Christmas.