Read the complete transcript. See video here. Excerpt below:
WALLACE: This week it will be one year since Barack Obama was elected president. In that time, what has he done for and to the country? LIMBAUGH: I think it's all to. I don't think there's any for. I'm -- Chris, I'm -- I'm really, really worried. We've never seen this kind of radical leadership at such a high level of power in the -- in the country.
I believe that the economy is under siege, is being destroyed. Anybody with any economic literacy would not do one thing this administration's done to try to revitalize the private sector. They're destroying it.
And I have to think that it may be on purpose, because this is just outrageous, what is happening -- a denial of liberty, an attack on freedom.
I mean, just -- just a couple days ago, they talked about these 650,000 jobs that they've created or saved. There's no such thing as a saved job. Besides that, they've destroyed jobs. They've lost 3.3 million jobs in this country since Obama's stimulus plan, and it's going to get worse.
WALLACE: But -- but wait a minute. How about save the country from a financial abyss, 3.5 percent growth in the third quarter in GDP?
LIMBAUGH: There wasn't any growth in the private sector. That 3.5 percent came from two things -- government spending on "Cash for Clunkers" -- they just moved fourth quarter auto sales into the third quarter -- and the first-time home buyer thing.
GDP equals CIG -- that is, consumers, the investment of business, and government. And it's all G. It's all government. There is no private sector growth. There were no new jobs being created. We're losing them.
WALLACE: How about kept the country safe for nine months?
LIMBAUGH: I don't know how safe we are. Iran is nuking up. Everything that we've asked them to do they are forgetting. They're not going to move their plutonium, their enriched plutonium -- uranium out of the country like they said so.
We can't make up our minds what we're going to do in Afghanistan. We're dithering there. I don't -- I don't think we're any better off in any way it could be measured.
WALLACE: You have now taken to calling Mr. Obama "the man-child president."
LIMBAUGH: Right.
WALLACE: What does that mean?
LIMBAUGH: Just -- he's (inaudible) he's a child. I think he's -- he's got a -- a five-minute career. He was in the Senate for 150 days. He was a community organizer in Chicago for however number of years. He really has no experience running anything. He's very young. I think he's got an out-of-this-world ego. He's very narcissistic. And he's able to focus all attention on him all the time. That -- that description is simply a way to cut through the noise and say he's immature, inexperienced, in over his head.
WALLACE: Let's talk about a couple of the big issues the president is dealing with now -- first of all, Afghanistan. You suggest that he is taking all of this time to decide what to do in Afghanistan to keep his left-wing base on board for health care reform.
LIMBAUGH: Well, it's partly that, but I also don't think he cares much about it. I think once...
WALLACE: Well, come on.
LIMBAUGH: No, I -- no, see, this is -- I know this is going to sound controversial, but I don't think he cares that -- if he -- Chris, if he cared about -- we've got soldiers and their families worrying about what we're going to do. The general on the ground said we need some more troops.
The policy that he implemented in March he now doesn't like and is trying to figure out how best to make everybody happy here politically on his side of the aisle and also for his image. Democrats have a tendency to be seen as weak on defense, so he's battling with that.
But again, if he cared about victory -- remember, he said about Afghanistan victory is not something he's comfortable with, the concept. It reminds him of the Japanese surrendering on the USS Missouri. It made him very uncomfortable.
He wants to manage this rather than achieve victory. He says these things. I don't know if people actually listen and have them register when he does.
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