Malkin: 'Recovery Summer' Looking More Like a Massacre

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This is a rush transcript from "Hannity," August 25, 2010. This copy may not be in its final form and may be updated.

SEAN HANNITY, HOST: Hope and change promised by President Obama has instead has meant layoffs, cutbacks and red tape. Fast food chain White Castle says it will be forced to pay out 55 percent of its total income after 2014 due to regulations included in the Democrats' health care bill.

Now other restaurants are echoing that claim. The owner of several IHOP franchises told the Cleveland Plain Dealer that he will have to raise prices and lay off workers to come up with enough to pay for penalties that he will incur because of the health care bill.

And that's not all. The AP reported that medical device firms are already preparing for the fallout from the health care overhaul because it imposes a huge tax on them.

Now representative from the Medical Device Manufacturers Association told the AP, quote, "Many small to mid-sized medical device companies will owe more to the federal government in taxes than they make in profits."

Now that's just a small list of the companies hurting from the policies enacted by this administration. From the health care bill to the disastrous economic stimulus package and much more.

So how many more people have to lose their jobs before this president wakes up?

Joining me now with analysis, New York Times number one bestseller, "Culture of Corruption," by the way now available in paperback, is Michelle Malkin.

Michelle, welcome back.


HANNITY: You know the amazing thing is -- is, you know, they told companies just the opposite would happen. And now we get the real fallout, the real implications are coming due here. It seems like nobody in the media wants to pay attention.

White Castle, you know, the medical device firms. Don't you think those ought to be stories that are highlighted now in the media?

MALKIN: I certainly do. And GOP leader John Boehner did an excellent job of trying to get the mainstream media to pay attention to the White House war on jobs. He calls the Obama administration a job-killing machine. Well, I call this the Beltway chainsaw massacre.

And you've got these maniacs who have no idea, rooted in rational economic theory anyway, what they're doing and what the bloody consequences of all of their massive government interventions are actually doing to people.

And as you say, Sean, you do not have a mainstream media documenting something that I think should be done. We need an Obama jobs death toll. And every day we ought to be telling the stories of people who have become victimized by these power grabs and policies.

Tomorrow, for example, on Martha's Vineyard there is going to be a flotilla of fishermen -- commercial and recreational fishermen -- who are protesting this administration's stealth ocean grab restrictive environmental policies that are killing mom and pop enterprises in New England.

Where is The New York Times? Where is Katie Couric?

HANNITY: Yes, well, I think these are great questions. By the way, a lot of this is coming from your column which I thought was extraordinarily well written and very few people paying attention to.

Look, even the Congressional Budget Office, which is supposed to be nonpartisan, they are now suggesting that the -- that the administration -- they're buying into this well, we may have created three million jobs when in fact we've lost nearly four million jobs.

Home sales plunged now the lowest level ever. And I'm thinking all right, so they spend all this money, stimulus, health care, the Bush tax cuts are going to expire. What has America gotten for its money?

MALKIN: Well, if you are an employee of one of Barack Obama's favorite unions, big labor bosses or if you happen to be an employee of one of those few lucky corporate special interests then sure, you are protected. You are immune.

But nobody else is. And that's why they've got to watch out for this summer of wreckage that's turning into a fall and winter and four years of wreckage. And I think we've discussed this before with particular regard to the auto bailout that they keep touting as an economic engine and driver.

That in that case what it really was, was a big labor payoff to the UAW while so many other workers tied to that bailout were screwed. And there were untold stories. For example, there salaried workers of Delphi which was auto parts company that was spun off --


MALKIN: That's right. That's right. And those workers basically had their pensions pulled out under their feet so that the UAW workers could be covered. This is scandalous.

Where are -- where is -- again, where is the national media and telling these stories? In fact there is a bipartisan coalition of congressmen -- John Boehner is part of that. They are trying to make that right and make those workers whole.

HANNITY: Well, I give Boehner a lot of credit. And frankly a lot of the House Republicans, I think, have been really good at sticking to their conservative principles.

Boehner has called on Obama to fire Geithner and Summers. I don't think it's going to happen. But I do think the American people have gotten it and I do think that we're going to see the implications of this on November 2nd.

The question is, how big do you think this is going to be?

MALKIN: You know I -- I hope it's big. And I hope that voters will exercise their rights at the ballot box and that the ballot box will be the ultimate sanitizer. But you're right. It's not just about firing Geithner or Summers or this hapless auto team and all of these" czars" that are in charge of major swaths of the economy, but it's firing their boss.

I mean we have so many of these out of control bureaucrats. You've got Interior Secretary Ken Salazar who is chopping jobs left and right particularly here in the West and in the Rockies, targeting the oil and the gas and the mining industries so that they can redistribute wealth and power to their own special interests. And in that case, of course, it's the radical environmentalists.

Somebody needs to document the wreckage. I've started to do it at my website. But again let's have that jobs death toll because we're paying already with taxpayer dollars for all of this propaganda about how this administration has created and saved jobs.

HANNITY: All right.

MALKIN: But where is the documentation of how many jobs they have destroyed?

HANNITY: Look, Michelle, one of the things you are loved as a conservative. And I love the fact -- you don't identify yourself -- frankly nor do I, as a Republican, but a conservative.

And the question is now, will the Republican Party also understand that there's two parts to this equation for their electoral success if they want it in November. One is obviously the conditions on the ground are such that they -- you know, Obama, Pelosi and Reid have set it up for them.

But part two of it is they've got to articulate their winning agenda. And it's got to be a conservative one.

Are you confident that you have the right candidates and the right place and that they're going to also hear the message? Or do you have in the back of your mind some fear that they're just going to be the Democratic Party light which is what I think got them in trouble in the first place?

MALKIN: Absolutely. They need to offer real choices, not just echoes and the pale pastels that Reagan talked about and that I know you talk as well. I will say this for most of the Republican Party: They understand the damage that pandering to big labor has done, not just over the last two years, but over decades. And they've got to stand against the next union bailout.

The next one is going to be billions of dollars, potentially $150, $175 billion in liabilities to bail out the PBGC, the Pension Benefits Guarantee Corporation, something else that big labor wants.

This is already on top of the $26 billion that they gave to the big govs job bailout and all of the state bankrupt governments. They've got to oppose people like Craig Becker who are ruing our economy by administrative fiat.


MALKIN: But if they don't understand that, you know what? It's not worth having them in office in the first place.

HANNITY: Yes, I got to be honest. And if they don't do it, I worry about the country because if they're not going to be the alternative, if they're not going to be those, you know, bold differences that Reagan talked about then I think the country is just headed for more of the same which is not going to be good for people that want jobs, that want to see economic growth, and want the country to get back on course and live within their means.

Michelle, good to see you. By the way, we'll see you Friday night in Vegas.

MALKIN: That's right. Looking forward to the Freedom Concert, Sean.

HANNITY: All right. Looking forward to it.

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