Wednesday, October 06, 2010

Limbaugh Labels Obama 'Jackass' on Economy -

By: David A. Patten Tuesday, 05 Oct 2010 05:53 PM

Radio talk-show giant Rush Limbaugh blasted President Barack Obama for his flawed understanding of the economy on Tuesday, referring to Obama as an "economic ignoramus" and a "jackass."

Triggering Limbaugh's wrath on his program were Obama's remarks to his economic recovery board on Monday.

At that meeting, top economic experts Martin Feldstein and William Donaldson advised the president to encourage businesses to hire workers by extending the Bush tax cuts. But Obama defended his policy of allowing taxes to increase on those families earning $250,000 or more.

"I don’t know any economists," said the president, "who think we are likely to get a bump in aggregate demand from $700 billion of borrowed money going to people like those of us around the table, who, if I suspect want a flat-screen TV, can afford one right now and are going out and buying one."

Limbaugh said he found it incredible that the president believes purchases of flat-screened televisions could bring about an economic recovery. He pointed out most of those are made in China anyway.

Obama is an “idiot, where capitalism is concerned,” Limbaugh said.

During the exchange with the economists, Obama said he was not concerned that wealthy people hit by large tax increases would "take their ball and go home," rather than contribute to economic activity.

According to ABC News, Limbaugh referred to the president as "our imam-child." Limbaugh shot back, “They have already taken their trillion-dollar ball home, and they're sitting on it, you jackass!"

Limbaugh pointed out that no one was proposing additional tax cuts. Extending the Bush tax cuts for everyone, Limbaugh said, would encourage businesses to invest and create jobs “which, once upon a time, we were told, was Obama’s top priority.”

Limbaugh added of the president: "He's a jackass. He's an economic illiterate. He's an economic ignoramus.”

“And that's being charitable.”

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