Posted on 07/18/2007 5:17:50 AM PDT by fabrizio
BEGIN TRANSCRIPT
RUSH: I think this needs to be noted for historical purposes. On October 7th of 2002, the Dow Jones Industrial Average, having been battered by the Clinton-Gore dot-com crash and the aftermath of 9/11 damage and fear and pessimism, October 7th on 2002, the Dow Jones Industrial Average hit 7,181. That's less than 7200, for those of you in Rio Linda. Today, less than five years from October 7th of 2002, the Dow all but doubled. It did cross 14,000 today. It got back just under 14,000, but it crossed 14,000 today, a humongously huge story that is not being reported at all because it doesn't fit the action line or the template of the Drive-By Media, that the economy is bad. There are four points worth noting about this. One, the Bush economic plan. Do you ever hear those words, by the way? You don't. The Bush economic plan worked, and it worked brilliantly.
Number two, the so-called Drive-By Media never reported, never celebrated, nor did it endorse the Bush economic plan, making it the only state secret that's not leaked to the liberal media. Nobody is leaking to the media how good the economy is. Number three, if we need fairness and balance and equal time, we don't need it with talk radio, we need it with liberal need because this is another one of these great stories that's not being reported anywhere but here. Of course the liberal intelligentsia learns nothing from this and clings to their depression model for governance. All of these Democrats running around on their poverty tours one way or the other, populist tours, the country is falling apart, everybody is a paycheck away from being homeless, soup lines are everywhere. It's a message of doom, doom and gloom, defeatism, and yet there is good news all over that is not being reported.
BREAK TRANSCRIPT
RUSH: All right, I gotta make a small little correction here, ladies and gentlemen. I indicted the entire Drive-By Media for ignoring this great economy and, of course, the performance of the stock market, the Dow Jones Industrial Average. It has been brought to my attention that today on the Today show, the correspondent from CNBC, Erin Burnett, did a report on the economy, and here's a montage of what she said. Now keep in mind, I don't want you to faint here. This did appear on NBC on the Today show.
BURNETT: You know, it's an amazing thing here. We're looking at the Dow Jones Industrial Average, up 30% over the past six months, 30 days this year alone we have had record closes for that index. So it's really another day, another record on Wall Street. It's also worth noting that while politicians talk about two Americas, virtually all Americans are seeing wages rise and unemployment is at a historic low. The issue of taxes is important here. The top 1% of Americans pay 30% of taxes in this country. The bottom 20% of American wage earners pay only 5%.
RUSH: Now, those of you that listen to this program regularly and visit my website know all of that. That's not news. Do you realize that the people who watch the Today show, how many of them heard that, that is news to them, how well the stock market's doing, without criticizing the usual line, "Women and minorities hardest hit. The poor being left out. It's just not fair." None of that was in there. And then the tax rates and who is paying what in this country, this reference here to "politicians talk about two Americas," a reference to the Breck Girl out there. So my apologies, I want to give an attagirl here to CNBC correspondent Erin Burnett, probably now ruining her career because I have praised her. That will cause the others in the Drive-By Media to question her loyalty to the cause.
Democrats are talking more and more about the anemic growth in American wages and the negative effects of trade and a globalized economy on American jobs and communities. They deplore what they call a growing gap between the middle class, which is struggling to adjust to a changing job market, and the affluent elites who have prospered in the new economy. Senator Hillary Rodham Clinton, Democrat of New York, calls it “trickle-down economics without the trickle.”
I have heard many I know express these views. I for one do see some of it myself.
I was listening to somebody whine the other day about hard economic times and how people couldn’t be expected to be generous when they are having problems making ends meet.
I asked him if he got a raise last year, and he said he got a 10% raise. I asked him if he was in danger of losing his job, and he said that the company was having a hard time hiring enough people to do the job. I asked him if he knew anybody who was unemployed, and he said that everybody he knew who wanted a job had a job.
So then I asked him how much better it would have to get before he stopped whining about hard times, and he admitted that he did so out of habit, and things really were not so bad.
One voter at a time, people. That is how we will turn this thing around.
Cut taxes and reign in regulations. Pretty simple formula for success.
If there really was a problem in this economy we would be hearing about the classic “misery index”.
But we’re not and aren’t likely to if unemployment remains at these near historical lows.
PIAPS is a pantload.
Just another story of the rich getting richer while the poor get poorer. I high Dow does nothing to help poorest Americans!
(Today, I’m playing the part of the whiny liberal who doesn’t get it. In this case, the lib doesn’t get that a strong Dow means businesses invest in new job creation.)
The lack of reporting of this milestone and the constant negative spin being given by the MSM is just more proof of their bias and Bush hate.
The smart get richer while the dumb get poorer. It will always be that way.
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