[FYI – Chicoms are Chinese Communists]

Excerpts from Rush Limbaugh’s Transcript August 8, 2011

RUSH:  Does anybody now doubt that this is on purpose? I mean, after all, Barack Obama inherits a AAA credit rating from George W. Bush, and look what he does to it.  Obama is always running around complaining and whining and moaning about all that he inherited from George W. Bush.  Well, he inherited a AAA credit rating, an unemployment rate of 5.7%.  Does anybody doubt that this is on purpose?  Well, look, my credit rating doesn’t suck.  There are a lot of individual Americans whose credit ratings aren’t in trouble.  The United States has never been in this position — and the next thing that’s gonna happen is that Fannie Mae, Freddie Mac, and others are going to be downgraded.

What are the Democrats doing?  Blaming Standard & Poor’s! That always changes the outcome, doesn’t it?  You know our military spending is 4% of GDP right now?  Military spending is 4% of GDP.  During the Eisenhower administration in the fifties, post the WWII, defense spending was 10% of GDP.  Today it’s 4% of GDP, and Barney Frank and the Democrats are trying to say it’s the military’s fault that we’ve been downgraded.

This is the fault of the Democrat Party.  I am Rush Limbaugh:America’s Anchorman fighting the rising forces of socialism.  They want us to believe now that France is better than we are?  And of course you can talk about S&P all you want, folks, but the real problem that we’ve got and the real referee we’re dealing with are the loan sharks, and that’s the ChiComs.  The ChiComs are dictating the terms of this. They are our number one lender;…

This is just so outrageous.  Even my old buddy Pete Wehner who worked for Rove in the White House and who has been reluctant… Pete’s the epitome of fairness and evenhandedness and so forth.  Even Pete, at his Commentary magazine blog today, said this:  “It reinforces, perhaps, like nothing else has the impression that Obama is overseeing — and some respects engineering — the decline of the American republic.”

So I’m simply trying to point out here that this is all being done on purpose, and it’s tragic, and it just ticks me off.  When Barney Frank sits over there and starts talking about how we need to cut defense, he is singing from the ChiCom hymnal.  Democrats are saying, Standard & Poor’s is not saying we’re not taxed enough; they’re saying we’re spending too much — and I’ll tell you something else.  Another thing I’m ticked off about is this stupid debt deal.  Remember last week on Wednesday, after Obama received the new spending authority in that debt deal we spent $259 billion in one day.

We went $259 billion in debt in one day which was more than the cuts over ten years are gonna ending being in the debt deal.  Now, before the debt deal started, before it was signed, I told you the Republicans were operating out of fear. …the Republicans are being blamed for it, and the military is being blamed for it! So an opportunity to sit there and do the right thing, once again, was squandered because of fear.

We have doubled and tripled what hasn’t been working.  We piled what doesn’t work on top of what doesn’t work, on top of what doesn’t work.  The old definition of “insanity” is “doing the same thing over and over again, expecting a different result.”  We’ve got it!  We have insanity at the upper levels of our government.  So now we know what Obama got for his birthday: A downgrade of our credit rating, probably exactly what he wanted in his heart of hearts.  Has he said anything about it?  No.  What’s the market today?  Ha!  We’re down just a measly 304 today.

So Democrats, let me ask you: Are you happy now?  You’ve finally got your hope and change.  I said that I hoped he would fail, and this is exactly what I meant.  But, from your perspective, from Obama’s perspective, he hasn’t failed.  He’s succeeded beyond his wildest dreams — and now look where we are.

Damn it to hell, they did it!

Obamageddon.  That’s what we have witnessed since Friday.  Obamageddon. Barackalypse Now.  The only silver lining I can find is that as far as 2012 goes, Obama’s a Debt Man Walking.  Anybody want to tell me he’s not landslidable now?

Where has Obama been hiding over the weekend?  I know he’s been playing golf.  Our problem is he hasn’t been playing enough golf as it turns out.  But how come he’s refusing to go on TV and talk about this?

Our credit rating started in 1917.

RUSH:  So our former head of the Council of Economic Advisors is going on a comedy show on HBO to talk about how our economy is now “intercoursed,” and she was one of the former economic team that helped introduce policies that led us to the point where now we’re intercoursed.

We’ve had a AAA credit rating since 1917, all the way through World War I. The Great Depression, we had a AAA credit rating.

World War II, we had a AAA credit rating, and we lose it now, and for what?  For what great purpose did we lose it?  Except an ideological hatred of American capitalism and a love of class warfare, what did we lose our AAA rating for?  A naked effort to get still more and more money to buy votes.  A never-ending quest for power, that’s why we lost our AAA credit rating.  Think about it: Obama’s finally managed another major accomplishment on that list he told us he had, that list that he said he’d only done about 70% so far.  At long last, Obama and his fellow Democrats have finally been able to convince the world that we are just another country, after all. There’s nothing exceptional about us or our economy.  For crying out loud, France has a higher credit rating than we do.  France!  They produce cheese and perfume, for crying out loud.

Read the full transcript: http://www.rushlimbaugh.com/home/daily/site_080811/content/01125106.guest.html