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GLENN: We have more audio, we have more audio for you. Pat, set this up.
PAT: Well, which audio am I setting up again?
GLENN: He had a stroke. He had a stroke.
PAT: I did not! Stu, you were in here. What did we just talk about?
STU: Well, we mentioned two stories, the Canadian prime minister.
STU: And then also the Vegas thing.
GLENN: Yeah. Do you have the
PAT: No. I have Vegas words. I don't have audio. Vegas words.
GLENN: Could have pointed that out in the little meeting. Give us the Vegas words. Here's what Barack Obama said again about Las Vegas.
PAT: He said you shouldn't go there and waste your money.
STU: (Laughing). Oh, did you want an exact quote?
STU: No, why would we want an exact quote? I just go
PAT: I just thought
GLENN: The mayor of Vegas is really smoked. We ought to get the mayor of Vegas on.
PAT: We ought to get Harry Reid on. Harry Reid was really smoked.
GLENN: No, I don't think I'm going to place on Harry Reid.
PAT: Here's what he said. When times are tough, you don't go buying a boat when you can barely pay your mortgage. You don't blow a bunch of cash on Vegas when you are trying to save for college.
STU: I'd like to hear from a boat manufacturer or boat retailer as well.
GLENN: Okay. So when you are trying to pay for college which, now we are trying to do in his state of the union address he has said we're going to pay for everybody's college. You don't go buy a boat or go blow cash in Vegas.
PAT: So we're buying yachts as a country as we're trying to pay for college for all our citizens. It's unbelievable.
GLENN: We just showed with, what was it, just the jobs bill or no, just the raise in the debt ceiling was 455 aircraft carriers. So we didn't buy a boat. We bought 455 ships, biggest ships on planet Earth. That's all we did. And that was just to raise the debt ceiling to pay what we've already got on the books, not what's coming. I mean, this guy's really incredible. Now, the Vegas mayor, he's like, you know what? He apologized the last time this time an apology doesn't cut it. It just doesn't cut it.
I'd like to ask the president of the United States, I agree with you when you are in tough times, you can't meet the mortgage, you don't go to Vegas. You can't meet the mortgage, you but isn't that common sense? Do I need the president to tell me this? How about a president who just says this: If you don't have the money, just stop spending money. But see, that's not the policy, is it now? How could it possibly be the policy of the president, "When you don't have the money, don't spend the money." When they say to us, we're not going to save our way out of this recession. We have to spend our way out of this recession. Okay, let's think about this for a second. Why do they believe that? Because 70% of our economy is built on consumer spending, you going out and buying a boat, you going out and going to Vegas. This is why I've been saying we have to have I said this just last night. Until we admit a problem, until we admit we're addicted to debt, until we say we've got a spending problem, both at home and in Washington, until we admit that, we can't change anything. It's why I said last night, and I'm telling you I hear from people all the time in Washington. In fact, people in the Republican Party have said Glenn Beck just doesn't understand how debt works. Yes, I do. You spend more than you have and you don't have a chance of making that money back, you lose everything: Every time I say don't go out and spend, don't spend crazy amounts. Look, I've gone on vacation. I took my family on vacation. Look, I'm just not buying on credit cards. If you have money, pay down bills first. If you have to go buy a new car, if you can find a good car, you know it's good quality, it's going to last, go buy it. You are going to have to buy it. Just don't go buy too much of a car. Don't go buy the sports car. If you got a family, don't buy you know, in the old days I used to have an MG. Don't buy an MG because it's going to be in the shop all the time. Buy quality. Buy within reason. Don't buy on credit if you can avoid it. But life still goes on. I mean, you know, your business. If you are in business, you are expanding. If you are smart, you are expanding. But you are not expanding on credit. That's not smart. Now let me ask the president. That's why he can't say this. He can't I mean, it makes no sense for him to say what he just did. 70% of our economy is on spending. If he really believes don't go to Vegas, then he needs to have another conversation with the American people and it's this conversation. We built, in the 1970s we went off the gold standard because weaponed to have the Great Society and we wanted to have it all. So we had to have the Great Society. We couldn't do it on the gold standard. Not enough gold. We had to be able to print money. Well, when we did that, the rest of the world freaked out. And they said, wait a minute action wait a minute, we hold your dollar as gold in our banks. You told us you would never go off the gold standard. "I know, but..." here's the good news. We're no longer going to be a selling economy. We're going to be a buying economy. We sold you all the refrigerators and the cars and the TVs and everything else that we could sell you. Now you guys go make it and we'll buy it from you. That was the deal we made in the 1970s. To keep the rest of the world happy, they had to turn into debtors. They had to turn us into consumers and so and man, they did a good job. We consume like nobody else. Now the discussion needs to be had. They didn't have that discussion with you. They just went off the gold standard. Most people don't know why we went off the gold standard. That's it. We wanted the great society. Not enough gold to actually print the dollars that it would take for Lyndon Johnson's great society and the Vietnam War. Couldn't do both. We wanted it all. Is it a coincidence that at the same time this is happening, the slogan starts to percolate in America, "You can have it all." No, you can't. You can have it for a while, but it always ends up this way. The president should have this explanation and have this conversation with the American people and say, look, this is what happened. So now we have a decision to make. We are either going to be a debtor nation and we are going to be slaves to the Chinese and the rest of the world, or we're going to change everything and we're going to struggle and we are going to have to reset. But we're going to reset and become the America that we should have been for the last hundred years. We're going to have to help each other out in our own neighborhoods and without the government's help. But we can do that. But we're going to have to reset. Either that or we're just going to keep racking up debt and we're going to become a Banana Republic. It's going to be very, very bad. One of the two. You decide. We're not going to have that conversation with people.
So what do they, what do they do? They lie to you. They tell you it's all sustainable. Well, they tell you it's unsustainable, but we've got to spend our way out of this unsustainable debt. Excuse me? If you're going to make if you're a business and you're in debt and let's say you're competing against the New York Times I know, it's not hard. You are competing against the New York Times. Do you invest in putting new weatherstripping in your brand new building? You know, let me use the New York Times as an example because I look at the New York Times building. This big huge behemoth of a building. Wildly expensive. Brand new. They invested in a building. Would it have been wiser to invest in a new philosophy and new technology? Probably. But instead they invested in a big building. How about we weather strip it? Well, the New York Times can either look for handouts, dig themselves into deeper holes, which they already are by getting loans from, like, the richest guy in Mexico and just keep pouring money into a system that is broken and is not the future. Or the New York Times can reset and say, you know what, the Internet is the future, we've made some mistakes in the past, nobody, you know, nobody looks at us, or at least half of America looks at the New York Times as a joke. But we're a good paper. We've got some good things. But we've become an organ for the left. We need to reset. Would it be better for them to take the hit right now, lay those people off, retool, sell the big new building, sell the damn press if you have to but retool for the next generation. That's what we should be doing. Instead we're investing in weatherstripping of buildings. It makes no sense. Makes no sense.
Now, the president depose out and says we can't spend, don't go to Vegas. Let me ask the president this question. Why. Why not go to Vegas? Why not? You have just as much of a chance of Vegas working for you as an individual as this president has his policies working for the United States.
STU: I would say at least in Vegas you have a chance.
GLENN: Yeah, you do. You have a chance.
STU: It's unsustainable what he's trying to do.
GLENN: So you have a chance in Vegas. I'm not one for going I don't gamble. I don't gamble, I don't believe in gambling. But a lot of the guys I mean, Stu, you go to Vegas.
STU: Yeah, love it.
GLENN: You and a couple of other guys. Me personally, I like it when you go to Vegas because I want you guys I mean, you'll see my text messages from you guys: Hey, are you losing big? Please, please pull it all on black. Because I want you guys to come back because I become China. You have to do more of what I say because you're not independently wealthy.
STU: We need you.
GLENN: You need me.
GLENN: I like it when you go to Vegas. But what is the difference between going to Vegas and spending money elsewhere? I mean, aren't those jobs? I'm sorry, aren't those union jobs at those hotels?
STU: Yeah. Not only are they union jobs, they are the jobs that got him the presidency with SEIU.
GLENN: I believe so. So you're hurting the hotels, you're hurting the hotel unions, you are hurting the restaurants, you are hurting the restaurant unions, you are hurting the airlines.
STU: Theatres, everything out there, yeah.
GLENN: Theatres, you are hurting everything. I'm sorry, is that not oh, oh, I see. No, I'm sorry, I forgot. We were on centralized planning now. Only the government can tell you what you should put your dollars into and what you shouldn't put your dollars into. I get it. See the problem?