The latest attack involves the stock market. Have you noticed that it is in the toilet? Perhaps you have. So who is to blame for this disaster on Wall Street? Barack Obama, of course.
In today's Chicago Tribune, for example, there is this letter:
Well, gee whiz! When you put it that way, clearly the fault lies with Obama and his economic policies. Why, what a disaster this president is! Ooooh, the horror!
When Obama was elected, the Dow Jones Industrial Average closed at 9,625. When he was sworn into office, it closed at 7,949, and this week it closed at 6,763. This represents a 30 percent reduction in the value of U.S. companies and investor wealth, over half of it while he was in office.
Put it another way however....
When Obama was elected (two months before he had any Presidential power at all and could begin to implement his economic policy), the Dow Jones was at 9,625. When he was sworn into office (and weeks before he could pass his economic recovery plan), it closed at 7,949. This week, days after signing his economic recovery plan into law (but before it has had a chance to begin working), it closed at 6,763.In other words, the tanking stock market is still the proud property of George W. Bush. When Obama's plan kicks in, and it will happen soon, and the market stays in the hole, then you can balame Barack.