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Rush Limbaugh on Budget & Economy

Conservative Talk-show Host

QE3 equals printing money equals inflation

Here it is, QE3, straight from the horse's mouth. The Federal Reserve statement: "To support a stronger economic recovery...the Committee agreed today to purchasing additional agency mortgage-backed securities at a pace of $40 billion per month."

It's basically a bond-buying program. It's being called another aggressive stimulus program: $40 billion of mortgage debt per month, and they're gonna continue to purchase the assets until the outlook for jobs improves substantially. Well, the outlook for jobs is not going to improve substantially as long as we have policies in place by Barack Obama and the Democrat Party. So this means forever, until the outlook for jobs improves substantially.

They're gonna purchase these assets until the outlook for Obama's job improves, is what they really mean. It's his job they're worried about.

So we're basically printing more money, QE3, quantitative easing, printing money, stimulate the economy. Printing money equals inflation, equals Zimbabwe, Third World.

Source: Rush Limbaugh Show, "QE3: Bernanke's Obama Bailout" , Sep 13, 2012

TARP is not constitutional, and unsustainable

[Obama is] going to overreach. At some point, people have got to realize none of this is possible. You can't have people living in homes they don't pay for. I mean, you can for a while. But after a while--you're already starting to see evidence of these.

Aside from the bastardization of the Constitution that the Obama plans are, that TARP is, it's not constitutional. Aside from that, where is the evidence that [anyone] has ever succeeded in any similar plans before? There is no evidence it works. The president's stimulus package, the TARP, the budget, relies on one thing for its success. Well, aside from authoritarian government power. It relies on the complacency of the American people. It relies on their belief that they can convince the American people that there's such a crisis that the only government, the only entity that can fix its government, as Obama has said. Liberals will never understand about America: we are a competitive people. We strive, enough of us do, to be the best.

Source: Speech to 2009 Conservative Political Action Conference , Feb 28, 2009

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Page last updated: Oct 10, 2013