Thursday, March 05, 2009

Obama/Dem Policies Are Driving The Dow Down

A friend sent the following:

President Obama and the Democrats continue to blame President Bush for all of our economic problems , including the falling stock market; but the Democrats have controlled Congress since January 4, 2007.

Below are a few market statistics which would indicate that President Obama and the Democrats in Congress (and their policies/ proposals) are responsible for a significant portion of the market's fall

-- Since the Democrats took control of Congress (Jan.4, 2007) the Dow has fallen about 5,600 points or 45%

-- Since Obama assumed office (Jan.20, 2009) the Dow has fallen about 1,400 points or 17%

Folks, we all know the drop in the Dow of 17% in just the 6 weeks since Obama took office is extraordinarily troubling.

The markets are screaming a big "No" in response to Obama's huge "spend now, pay some other time" programs.

The people who must risk their money to drive the Dow and other financial markets up are not buying into Obama's plans.

That's because they know where greater government control of the economy combined with enormous government borrowing and growth in the public debt lead: slow growth, high unemployment and less of the essential business risk taking necessary to grow the economy.

I haven't seen any editorializing about the markets "No" to Obama and the Dems in my local paper, the liberal/leftist Raleigh N&O.

What have you seen in yours?


Anonymous said...

John, you put that so eloquently! This is just one more reminder that the only real way to keep our economy strong is not by raising taxes, but by keeping taxes low, fair and simple.

We need to take action and contact our legislators and sign petitions like the ones the U.S. Chamber of Commerce backs (here).