(The Blaze) – Conservative talk radio host Rush Limbaugh on Monday said that a second term for President Barack Obama would lead to the collapse of the the U.S economy.
â€œWeâ€™re spending a trillion dollars we donâ€™t have on welfare. Itâ€™s not that weâ€™re taxing producers and redistributing the money. Weâ€™re borrowing it; weâ€™re printing it. We donâ€™t have it! Over a trillion dollars a year,â€ Limbaugh said.
â€œThereâ€™s been $5.5 trillion added to the national debt in 3-1/2 years by this president. There just isnâ€™t the money for this. At some point (and itâ€™s sooner rather than later) there will be a collapse,â€ he added.
And in regards to the amount added to the national debt: heâ€™s not exaggerating. Thatâ€™s the actual amount that has been added since 2009.
â€œIf Obamaâ€™s re-elected, it will happen. Thereâ€™s no â€˜ifâ€™ about this. Itâ€™s going be ugly, itâ€™s going be gut wrenching, but it will happen. The countryâ€™s economy is going to collapse if Obama is re-elected. I donâ€™t know how long â€” a year and a half, two years, three years,â€ Limbaugh said.
â€œCaliforniaâ€™s going to declare bankruptcy, and you know what Obama will do?â€ Limbaugh asked. â€œHeâ€˜ll go to states like Texas or Arizona or Florida to bail â€™em out. Thatâ€˜s what heâ€™ll do, and thatâ€™s going to precipitate this stuff.â€
Again, in regards to his claims on economic issues, heâ€™s not wrong. Financially speaking, California is an absurd mess.
â€œ[E]verything that is happening in California is slated to happen nationally, from the unchecked immigration, to the massive indebtedness, inability to pay it off, rising taxes. And when push comes to shove, where are they going to go in California?â€ Limbaugh asked again.
â€œTheyâ€™re going to go along the coastline where all the elites, suburbia, where all the money is. Theyâ€™re going to start taking it. Itâ€™s the only place there is any,â€ he added.