Posted by
The CL Project on Tuesday, March 03, 2009 1:42:23 PM
For the most part,
Americans have welcomed the Obama era in the same spirit of hope the President campaigned on. But after five weeks in office, it's become clear that Mr. Obama's policies are slowing, if not stopping, what would otherwise be the normal process of economic recovery. From punishing business to squandering scarce national public resources, Team Obama is creating more uncertainty and less confidence -- and thus a longer period of recession or subpar growth.
On March 3, CL favorite Jim Cramer at CNBC lambasted the Obama economic disaster:
"Until they realize that their agenda is destroying the life savings of millions of Americans, then all I can give you is caution... I'm not saying Mr. President go stare at the Bloomberg quote machine and come to your senses. I just want some sign that Obama realizes the market is totally falling apart and that his agenda has a big hand in that happening. I don't know about you but I felt it everywhere I went this weekend... A young kid took me aside. He said I was right when I said we've elected a Leninist... I felt the total lack of control we all feel right now, the, "It's out of my hands but where's the authority?" The, "Hey it's amateur hour at our darkest moment."
As the WSJ points out, as the Dow keeps dropping, the President is running out of people to blame. In the meantime their continued assault on business and investors is delaying a recovery and ensuring that the expansion will be weaker than it should be when it finally does arrive.
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