If the Stock Market Is any Gauge, Obama Has Been Great!
I received a note the other day from a social Democrat, who wrote:
“When Obama came to power the Dow Jones Industrial Average was 7,900, today it is over 17,000.
When he came to power, the Federal Budget deficit was 11% of gross domestic product (GDP), today it is 2.8%.
When he came to power, the economy was in a free fall and losing 8 million jobs, today it is growing and all the lost jobs have been recovered.
We are poised today to become the greatest energy producer in the world and North America will produce more oil and gas than the entire Middle East. Pennsylvania alone by next year will produce more gas than Qatar. It is estimated that the economy will grow 3.5-4% next year fueled in great part by the energy boom.
Inflation is low, interest rates are low, credit is becoming plentiful. Tourism has broken all records. What is it that makes you dislike him so much?”
Read my response to these comments at Eagle Daily Investor.