Posted by
John Caile on Thursday, February 19, 2009 1:08:57 PM
Amazing. A little over a month into the Obama presidency and we are suddenly facing a"catastrophe" of biblical proportions. But how can this be? The Democrats just steamrolled a massive, big government spending bill through the Congress that was SOOOOOO urgent, it just had to be done RIGHT NOW!
And the result? More jobs lost. More and more people applying for unemployment assistance. The Stock Market falling faster than Bill Clinton's pants in a motel room. Oh, for those who still want to try to blame George Bush, less than a year ago the Dow was at 13,000 - it is now at 7600, and down a staggering 2000 points just since the election.
And why? Remember, markets are a LEADING indicator - investors react based on what they believe WILL happen, not what happened last year. And the markets see only more chaos and bad policy decisions coming from Obama and the "economically-challenged" Democrats.
But wait! There's more. After pushing through the most massive increase in out-of-control government spending in history (even most of the so-called "tax cuts" are nothing but thinly disguised welfare payments to people who don't pay any taxes anyway) Obama and his liberal crew are now going to bail out the very people who are responsible for the whole housing debacle.
Instead of figuring out ways to help those who actually PAY their home loans, they are falling over each other trying to figure out how to reward all the dead-beats who DON'T pay their bills. When you remember that these are the very same people who shouldn't have gotten loans in the first place, it is even more enraging. Oh, and who was it that blackmailed banks into giving these unqualified people loans? Democrats.
So, as we slip deeper and deeper into recession, exascerbated by precisely the wrong response from the Obama administration and the Democrat Congress, just be sure you remember who promised you "Hope" and "Change" - and who warned you what was REALLY coming.