Steven G. Calabresi, Professor of law, Northwestern University:
"The bottom line here is that as investors have come to expect an Obama presidency with around 60 Democratic senators, the stock market has crashed and expectations of a severe recession have risen. There are many causes of all of this, but Obama's tax and regulatory plans are one of the reasons for the plunge. If he wins, we should expect further losses and less social wellbeing than we have enjoyed over the last eight years."***************
See? The Dow going from 3,000 to 10,500 during the Clinton years was due to Reagan's tax cuts in 1981. The Dow dropping from 10,500 when Bush took office to 8400 today is Obama's fault. All good news is thanks to Republicans and all bad news is due to Democrats.
I'm glad I was able to straighten that out for you.
I appreciate that explanation Steven! It explains a lot. It sounds kind of like my Republican friend who really tried hard to explain to me that it is not hypocritical that Sarah Palin's daughter being pregnant is not a result of poor parenting, but if Chelsea Clinton had gotten pregnant that it would be a result of poor parenting.
ReplyDeleteI guess they are just so desperate that they are trying to put a positive spin on themselves. It ain't working!