And honestly, why WOULDN’T it? Everything that Obama has done in just the few weeks he’s been in office has been bad for business.
Yes, Obama inherited a recession. A recession that we were slowly crawling our way out of until he took office. Remember January? On the 2nd, the Dow was at 9034. Today? 6726. Keep in mind, NOTHING EARTH SHATTERING HAPPENED between January 2 and today, except for Obama taking the oath, making a whole bunch of emotional saps cry, and dancing to “At Last” like 17 times with Michelle and her bare arms at various galas and balls. So how do you explain the drop? Easy!
Obama is slowly making it clear to the country how he plans to run it. And reasonable, sensible people are flipping the freak out about it, as they should. Reasonable, sensible people know that the economy will not be stimulated by throwing money at social programs. We know that throwing money, with little to no oversight, and little to no actual direction, at financial institutions like AIG equates to just hurling a wad of cash off the top of a rooftop and hoping some of the bills are caught by productive people who can put it to good use. We know that growing government and squashing the private sector while at the same time making people dependent on government programs provides absolutely no incentive for those people to ever become self-sufficient.
As soon as Obama presented his budget, the market reacted. Well, duh. The whole budget is like a hate letter written to capitalism. He may as well have just written, “Capitalism sucks. Here are a zillion tax hikes. Yes We Can. Love, O.”