While I personally do my best to be respectful when referring to the President (sometimes I fail), the point Rush was trying to make is more than valid. There are billions and billions (maybe trillions) of dollars sitting on the sidelines right now in the hands of individuals and companies of all sizes. They are sitting on it because this Congress and this President don’t seem to understand (or refuse to) that the dilly dallying they are doing with regard to the current tax rate structure and extending it or letting it expire has created a significant level of uncertainty in the economy. With that amount of money sitting idle, it’s no wonder we have a quarterly GDP growth of barely 1% and unemployment hovering around 10% (significantly higher if you count people who have given up). These people don’t know if their tax rates are going up after Jan. 1st or not. Why should they risk anything?
And before I get any comments about how disrespectful Rush was when referring to Obama. I’ll just remind you all about some of the really vile things that people like Keith Olbermann and numerous other liberal commentators (including a current member of the Senate from the upper mid-west) said about G.W. Bush. Don’t make me dig’em up cause I will in a heartbeat.