Limbaugh Wire: 3/16/2009 Part I

This hour of the Limbaugh Wire brought to you by suffering succotash
By Simon Maloy

Welcome back, Limbaugh Wire reader(s). It's Monday, which means that El Rushbo's self-imposed two-day exile from the golden microphone is over. And he returned in fine form, offering a full-throated defense of taxpayer-funded bonuses for employees of AIG Financial Products. The reasoning? Well, Rush has a lot of insurance with AIG and it would be a "hassle" for him if the company went bankrupt. Also, he figured that taxpayers should pay for his insurance company's bonuses, since he's paying for their mortgages. Also, Rush found it funny because all these AIG employees and high-up Wall Street muckity mucks are, according to Rush, Democrats and big supporters of Obama. It may not be as simple as that: OpenSecrets.org says that the $130 million donated by the "Finance, Insurance & Real Estate" industries was split just about down the middle -- $70 million to Democrats, $60 million for the GOP.

Anyway, Rush offered an admonition to those Americans upset that $160 million of taxpayers' cash is going to bonuses, saying that it is just one-tenth of one percent of all bailout funds, and that there are far greater abuses of government to be angry over. Of course, last week, Rush was railing against Obama for signing the omnibus bill, which Rush redubbed "earmark-ulus," and his anger was not tempered by the fact that earmarks in that bill comprised less than 2 percent of the total spending.

Rush then explained to his readers that he knows he's in the minority for supporting the AIG bonuses, but, as he is always quick to point out, he is a man of "principle," not of "polls." Seconds later, he attacked Rep. Barney Frank, saying that Frank reminded him of Sylvester the Cat.

Coming back from the break, Rush endeavored to explain why, after months of being "negative," Obama was suddenly "confident" about the economy. Rush speculated that one reason might be that Obama's poll numbers are "not going well," pointing to Obama's +4 approval index in the latest Rasmussen poll, and his overall approval rating "holding steady" at 56 percent. According to Rush, this means that Obama's approval ratings are "tanking."

Back from another break, Rush was providing some running commentary to Obama's remarks at the small business White House gathering, which consisted mainly of Rush shouting: "Bail 'em out!" Noticing that Obama praised AIG CEO Edward Liddy in his remarks, Rush extrapolated on his theory from earlier in the program, declaring that Liddy must be a Democrat. Again, not to seem mistrustful of Rush's insights, but another quick peak at OpenSecrets.org shows that Liddy made two donations during the 2008 election cycle -- $2,300 to John McCain, and $2,300 to the Republican National Committee.

Rush continued to articulate his theory of bailouts, and how it's all designed to keep Democratic "elites" and "eggheads" in the lifestyles to which they've grown accustomed: second houses and Manhattan penthouses and such. The "elites" and "eggheads" then take that bailout money and recirculate it in the form of campaign donations to Democrats. And Rush insisted he's not engaging in class envy -- he doesn't begrudge their wealth, but they begrudge him and the rest of us.

Highlights from Hour 1

Enemies list

Rep. Barney Frank (D-MA):

LIMBAUGH: Nancy Pelosi said, "I have asked Chairman Barney Frank" -- who -- you know who he reminds me of? The Looney Tunes -- I think it was the Looney Tunes cartoon character Sylvester the Cat.

[imitating cartoon voice] "I tawt I taw a puddy tat. I tawt I taw a puddy cat. I tawt I saw a bird" -- "to examine options legally available to recover taxpayer funds of companies that abuse the privilege of taxpayer assistance."