RUSH: So during the break at the top of the hour Snerdley and I, we went back to the kitchen where I had to go get some comfort food, some buttered popcorn flavored jelly beans, and we just started laughing. The news Obama is gonna forgive mortgages, 180,000 work opportunities this summer, cut the military by tens of thousands of troops. We just started laughing like insane people do when they reach a breaking point. You’ve seen this happen. People snap, and they just hit the breaking point.

We’re sitting here laughing, and we can’t believe it, we’re laughing at all of the stuff that’s happening. Oh, yeah, the recess appointments with nobody making any effort to stop this. The extra-constitutional behavior, the wanton disregard, the lawlessness. Look, if you regard the Constitution as law, the president is behaving in a lawless manner. There’s no question about it. If we had an incumbent Republican president running with the record Obama has, we would be panicking, would we not? As Republicans, if we had a president who had done this much damage to the US economy, running for reelection, we would be panicking.

Now, I think that these Democrats are scared to death. I think rank-and-file Democrats are scared to death. They see what we see. They see the economic destruction. Some of them like it because it leads to chaos and will lead to ever larger government, ostensibly to fix all of this. But they see it; they know what we know. They also know they have the media on their side to smooth it over. But that’s not my point. The Republican establishment doesn’t see it.

I am convinced that the Democrats, they know they’ve got a president that’s running for reelection they cannot go out and defend. They have to get him reelected some other way, but they can’t go defend his record. They don’t want to appear with him on the stump. They don’t want him appearing with them at their reelection efforts. They know how destructive Obama’s been. But the Republican establishment and the Democrat left are doing everything they can to convince us conservatives that Obama’s reelection is inevitable.

I went on Greta Van Susteren before Christmas, and she gave me the whole hour and then they replayed it on the 29th. I checked e-mail reaction to it, and there was a lot, but one of the things that got the most reaction (there were two or three) was when I said that the Republican establishment doesn’t think Obama can be beat. People reacted to that to me in emails, “Do you really believe that? Is that really true?” Yes! They don’t think Obama can be beat. They are focused on winning the Senate. They think he’s an incumbent and the reason they think that he can’t be beat is because they don’t have the guts to run against him because he’s black.

They don’t want to be called a racist. You’ve got McCain out there ripping Newt for using the word “liar” talking about Romney. (impression) “That’s right, Mr. Limbaugh! We don’t do that in politics. We don’t call our opponents liars unless they have incontrovertible proof, see?” Well, they do! They call us every name in the book, but we’re not gonna call them anything. So the Democrats know they’ve got a guy they can’t defend. They’ve got a guy whose record they can’t defend. The Democrats have a guy that they do not want joining them on their stage when they run for reelection, but our own establishment is trying to convince us that Obama’s reelection is inevitable.

Therefore, folks, they’re pushing Romney. I know you think I’m anti-Romney. I’m not. They’re pushing Romney because they think Romney will do the best down-ballot. Don’t doubt me on this. The Republican establishment are more inclined to think Obama can’t be beat than he can be, but they want Senate. They don’t want Obama to win, don’t misunderstand. They just don’t think he can lose. Their idea of stopping him is winning the Senate, plus that gives them their committee chairmanships, and that puts them in charge of the money — and that’s huge.

Don’t discount that. They think Romney will do a better job, give them a greater opportunity to win Senate and House races because he’s a moderate and will not anger the independents. They think a conservative nominee will scare independents off and we will lose the House and lose the Senate and lose the White House and we will be in the wilderness — which I find ironic because, again, the Democrats know they’ve got a guy who, by all rights, cannot win reelection. If we had a president… Again I say this to make this point: If we had a president who had done what Obama’s done, we wouldn’t want him running for reelection. We would be thinking we’re gonna lose in a landslide! Our people think that guy can’t lose. It’s the most frustrating thing.
BREAK TRANSCRIPT
RUSH: Okay. So Obama is slashing defense budget by more than a trillion dollars while we’re being threatened by everybody from Iran and North Korea, and that will not scare independents off. Okay? Obama letting the Muslim Brotherhood take over Egypt and Al-Qaeda take over Libya and letting the Taliban out of Club Gitmo will not scare off the independents. But calling Obama a “liar” will, or criticizing Obama will. That will scare the independents off. But Obama releasing Taliban leaders, giving Russia our military missile secrets, turning the Middle East over to the Muslim Brotherhood, that will not scare the independents off. In fact, the only thing — the only people — that can scare the independents off are conservatives, and the way they do it is by speaking up.

So conservatives have to shut up, otherwise the independents go running off to the Democrats. The Democrats can come up with policies, Obama, that lose two million or three million jobs. That will not scare off the independents. This is so frustrating, ’cause this is a trap laid by the Democrats and the media and these Republican moderates, establishment types, fall right into it — and our political consultants fall right into it.