The Obama National Anthem…

GLENN: Today Barack Obama is stepping to the plate and going to spend $1.2 trillion of your money and my money, $1.2 trillion. He says trillion dollar deficits are going to be many years to come, trillion dollar. I — holy — what about that war we couldn’t afford? I mean, it seems like a bargain discount now, doesn’t it? Trillion dollar deficits.

Now, here’s the great thing, and I know everybody’s going to feel — I know everybody’s going, "Glenn, what are you worried about? Please! You’re freakin’ out." Don’t you see? We’ve already spent this kind of money before. We’re now spending — our debt is going to be about 8.5 of GDP. 8.5 of gross. So everything we make, we’re going to take 8% of that and throw it into debt. We’ve done that before. In fact, I think we got as high as 11% and we did that in World War II. And they want to point out that right after World War II, as soon as we got that pesky thing done, we paid off that debt and everything was great.

Okay. Stop the music for a second. Let me just apply common sense. Remember yesterday I told you that we were going to start applying common sense. We weren’t going to play by all the rules that everybody wants us to play, we weren’t going to look through things, through the little prism that they’ve created for us. We were going to just use common sense. So let’s use common sense on $1.2 trillion that is being spent on infrastructure and things that are really going to get us going again. They are going to create all these new jobs. And once we get this economy chugging again, well, then we’re going to be able to pay off this huge debt. Don’t forget, you know, pay no attention to the $56 trillion of, not debt but promises that we’ve already made. Promises, they are promises. I love this one. This is what President Bush has said recently: No, no, no, the $2 trillion? What are you talking about, $2 trillion? No, no, no, that’s part of just promises that we’ve made. We’ve only — the TARP, we only used $350 billion. But wait a minute, it’s not even $2 trillion, President Bush. It’s now, what is it, $7.6 trillion? It’s up to 8 now? $8 trillion since October. The government will say we didn’t spend that money. No, you only promised people that you would give them that money. Again if I use common sense, let’s say you go into a bank and the bank says, "Okay, let’s see, you want to buy a million dollar house. Okay. Let me see your income. Okay, that’s going to — let’s see. Hang on just a second. You have no debt whatsoever?" "No, uh-uh, I don’t have any debt." "Wait a minute, you’re not making payments on anything? You didn’t borrow anything else?" "Nope, uh-uh." "So all of your income is free?" "Uh-huh. I don’t owe anybody anything." "Wait a minute, what is this?" "Oh, don’t worry about that. That’s just promises I’ve made." "Well, this shows that 100% of your salary has been promised to somebody else." "Yes, but I haven’t spent it. I’ve only promised it to other people. So can we j ust put our loan through?" "No! Get the hell out of the bank!" That’s what common sense would tell you. But here, uh-uh, common sense doesn’t tell you that because people want you to look through a prism that has nothing to do with common sense. "Oh, well, it’s just magic. We’ve done it before." Okay, it’s not really magic now, is it? "No, it’s actually highly technical, probably so technical, you know, that you little people can’t understand." Well, wait a minute, give me a shot, will you? "Okay. Well, you spend this money to make money." "Okay, I think I agree with that. But how much money are you spending and how exactly are you going to make it back?" "Well, just the way we did in World War II. We spent all that money in World War II. 11% of our GDP. That’s more than we’re spending now in relation to our GDP, so — and look at what happened." "Okay, all right. Well, let’s just compare a few things. Didn’t we in World War II develop the jet engine?" "Well, yes, of course we did." "Didn’t we also do something, I don’t remember what — oh, yeah, the Manhattan Project?" "Well, it was — yeah, sure." "Didn’t we also build dams?" "Well, yeah, of course we did." "Didn’t we also build the first highway system?" "Of course we did." "Okay. What are you doing with the $1.2 trillion?"

Obama is so proud of this that he’s actually having these mayors stand on stage with him today when they make the announcement that it’s going to be gigantic spending just to get the economy moving. For instance, in towns like Miami. You have the mayor of Miami coming and he’s going to talk about the noteworthy projects a lot like the Manhattan Project of a water slide. Oh, and there’s a BMX and dirt bike trail at Virginia Key Park. And then they are going to build a Miami Rowing Club building and then there will be the Virginia Key Beach museum. In Trenton, New Jersey they have got 34 requests. They are going to do the Trenton Club renovation project, the Port of Trenton, that is my favorite, people come from all over the world to see the Port of Trenton museum. Then, of course, there’s the Eagle Tavern development. I mean, you gotta drink. Then the mayor of Providence, Rhode Island is going to be there. He’s going to talk about the Roger Williams Park Zoo. Roger Williams, didn’t he sell more albums than Elvis and Boxcar Willie combined? He’s going to be in from Providence and he’s going to talk about the new polar bear exhibit that they want to build and soccer field improvements. Then the mayor from Philadelphia, Michael Nutter, is talking about the Philadelphia zoo. They are going to — oh… oh, I didn’t know this! They’re doing the Big Cat Falls? Yeah! Finally they are going to build a nice waterfall. Well, now I want to go to the Philadelphia zoo and so does everyone from planet Earth. So when I look at the water slide, the BMX dirt trails and the Big Cat Falls and I compare them to the invention of the jet engine and the Manhattan Project and cheap plentiful energy from falling water, hmmm.

Why does this make a difference? Because the reason we could pay off the debt that we incurred in World War II is because what we invested the money in changed the face of the Earth. We were the ones who owned the technology. We were the ones who invented it. We were the best at building it. And so when the war ended, we used that to create private stuff and the world came beating a path to our door because we had something that everybody wanted. I’m sorry, but I don’t think that the BMX dirt bike — of course, the Port of Trenton Museum is pretty good, and there are going to be nice soccer field improvements in Providence, Rhode Island. So maybe I’m wrong. Maybe I’m just — you’re crazy, Glenn, shut up. We’re marching to socialism and we’ve got lots of friends who are marching with us.