David John Marotta & Megan Russell Defended by Rush Limbaugh

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Rush Limbaugh 2014-01-23

Rush Limbaugh defended David John Marotta and Megan Russell’s article “Should We Wallow in the Rising Stock Market?” from media attacks on Jan 23. Thanks to the media’s sensational headlines, once again our two Virginia co-authors are “the Wall Street guy.”

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RUSH: Old buddy Jim Pethokoukis heard about that Wall Street analyst saying that the real unemployment number is 37%, and Pethokoukis says this guy is full of it. No way, no how. He said the guy doesn’t offer any data; it’s just crazy. There’s no way the labor market’s that bad. He doesn’t offer an alternative to what it might be, other than U-6, which is around 11.5%, as opposed to 6.7%.

By the way, the Wall Street guy said that there are 37% “not working.” He didn’t say the unemployment rate is 37%. Now, you may think this is splitting hairs, but he said 37% are not working. He’s talking about all the people that don’t work, period — including the unemployed, including those who can’t work, including the retired, including those on welfare. So his point was, of 100% of the population, about 37% are not working.

Read more about the attack and its correction in our Feb 2 article “Can You Fact-Check Without Reading the Article?”

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Wealth Manager

Austin Fey is a Wealth Manager at Marotta Wealth Management, specializing in charitable giving and asset allocations. She is a regular contributor to our Marotta On Money articles, often giving advice to those just getting started in finance.