The DOW fell another 300 points today, finishing below 7,000.
This is the lowest number the DOW has seen in nearly 12 years.
The further evaporation of retirement accounts, business values, and personal portfolios.
I may not be thought of as “smart, “savy,” or “brilliant”- all things Obama has been dubbed. But I can figure out that this decline is bad, must be stopped, and nothing Obama has tried so far (spend, spend, spend) has worked to pull the markets in the right direction.
Maybe you haven’t noticed, but Obama likes to repeat the refrain that tax cuts don’t work to solve a recession. He likes to talk about FDR, the Great Depression, and lots of government goodies.
I know the President was traveling some in the early 1980s (India, Indonesia and Pakistan in 1981, when American citizens weren’t allowed to enter Pakistan), so maybe he forgot that in 1981-82 we faced a recession just as deep as we’re in right now.
How did we get out? President Reagan cut taxes.
I have an even better formula: Cut taxes AND cut spending!
The truly brilliant, smart, and savy folks at the Heritage Foundation have done the research.
“Two wrongs don’t make a recovery” here.
“Why Spending Doesn’t Equal Stimulus” here.
Reduce the burden on corporations.
Tax cuts vs. tax rebates here.
Don’t let Bush tax cuts expire.
We can’t afford this downward slide to continue in the name of “economic fairness.”
