GLENN: Now the Fed has they're expected today to down grade the outlook of the United States. I'm sorry. Wasn't everything fixed?
PAT: Yeah. I thought we went I thought we came back from the brink. Isn't that the
GLENN: I thought that was all over.
STU: Yeah. There was some
OBAMA: We have pulled the economy back from the brink. We got good news last week showing that for the first time in over a year, the economy was actually growing.
PAT: Uh huh.
GLENN: So, I'm sorry. So, what's so, what happened? What happened? Because I thought we pulled it back. I thought for sure we pulled it back from the brink. I thought that was over.
PAT: Yeah. Sure seemed like it.
OBAMA: We brought the global economy back from the brink.
OBAMA: We have pulled the economy back from the brink.
OBAMA: I can stand here with confidence and say that we have pulled this economy back from the brink.
PAT: Wait. What?
GLENN: It doesn't sound like it sounds like we're back at the brink. What happened? Is there something did I miss something that brought us back to the brink?
PAT: Well, yeah, George W. Bush.
GLENN: Well, I know George W. Bush. I know that
STU: He pulled it right back.
GLENN: Wait a minute, wait a minute, wait a minute.
PAT: Sitting there in Dallas writing a book, he pulled it right back to the brink.
GLENN: We would never recover we would never recover if we didn't have the $787 billion stimulus package, right?
PAT: Right, yes.
GLENN: All right. Well, first we have to go back to George W. Bush. We'll never survive if we don't have the Tarp package.
PAT: Yes. That was true. It was the it was the plane headed into the side of the mountain. Okay. So
GLENN: We're in the going to survive. So, we did that. Well, we survived. Then, unless we do the $787 billion stimulus package, we may never recover.
PAT: Uh huh. Okay. That's right.
GLENN: And if we do the $787 billion stimulus package
STU: Unemployment will never go above 8%.
GLENN: Never go above 8%. Okay. But it did.
PAT: Just 2 points, though.
GLENN: Then we have to be able to give confidence to Americans and American companies that we're going to be able to pay for health care and that's the only other part. When we have that, then we'll be okay.
PAT: Health care was instrumental in fixing the economy. Remember that? It was
GLENN: No. I mean
PAT: crucial.
GLENN: That's what they said
STU: Yeah, it was crucial.
GLENN: But it hasn't fixed
STU: Well, it did for awhile.
GLENN: It did because we brought it between those two things, we brought it back from the brink.
OBAMA: We brought the global economy back from the brink.
OBAMA: We have pulled the economy back from the brink.
OBAMA: I can stand here with confidence and say that we have pulled this economy back from the brink.
PAT: So, all that happened. Pulled it right on back.
GLENN: Okay. Yeah. But now we have Freddie and Fannie and Freddie and Fannie need what is it? an additional how much? $1.8 billion but we're looking at maybe just giving them, oh, I don't know, the candy store, as well? Just opening up and going ahead and
PAT: Was it only a billion or was it a trillion? The a billion just doesn't sound like
GLENN: No. I think they need another what is it? $1.8 billion just, like, right now, but they're looking at
PAT: That's not bad.
GLENN: No, no.
PAT: That's not bad.
GLENN: They need it today.
PAT: That's not bad. At least it's in the a trillion. It's not 100 trillion.
GLENN: It's not a trillion because last year it was estimate that they would need $1 trillion, but this year, since we've been brought back from the brink
PAT: Yeah.
GLENN: As estimated they need $3.1 trillion, but the good news is they'll have that .1 right away.
PAT: Oh.
GLENN: Uh huh.
PAT: Okay. Good.
GLENN: Stu, what part of the brink did we miss?
STU: Well what, you missed was that he aid he was going to pull he had pulled us back from the brink but he never said that he wouldn't push us over past the brink later. He just said he pulled us back from the brink for a minute. We could easily be back at the brink or over the brink at any time.
PAT: But it wouldn't be his fault, would it.
PAT: No. Obviously you covered that the Bush the book is coming out, right.
PAT: It's Bush, uh huh.
GLENN: Here's the good news. According to "USA Today" I hate that conservative rag. According to "USA Today," Federal civil servants earned an average pay in benefits of an average of $123,049.
PAT: Uh huh.
GLENN: You, in the private sector, made $61,051. So, it is official now. Obama is asking for a 1.4% across the board pay hike for 2011 for these people who now officially make double, on average than the private sector, double.
STU: I thought the rich needed to pay their fair share. Why are they getting all these evil raises?
GLENN: Well, they're not rich. They're only they're only making double the private sector. So
STU: That seems like a lot.
PAT: Yeah. You're not evil until you're making triple.
GLENN: Now. When you're making $250,000, then you're rich.
STU: But that's making more than the person who has a doctorate degree. I mean, $150,000 is
GLENN: I understand that, but this is just the average salary for the government worker and they're not even on the top of the food chain. You know, you have to remember that Congress makes 173,000. You, you paying their salary, you only make 61,000.