Wallstreet Has Unfavorable Opinion Of Obama’s Job Speech … Dow Down 303.68 points, 2.7%, Falls Below 11,000
“Pass the bill, pass the bill, pass the bill” … Doesn’t appear that Wall street is too impressed with Obama’s jobs bill. Seems that the DOW is more like, “PASS ON THE BILL”.
The US markets were down triple digits following Obama’s job speech as the NY Times says that the US markets are following the economic uncertainty in Europe. Really, because it has nothing to do with the economic situation in the United States and a jobs plan that Obama is insisting that Congress pass immediately as all or nothing. Sorry President Obama, it does not work that way. Especially coming from a failed jobs Prez like you.
“Even yesterday’s speech raises questions of whether there will be support for fiscal policy,” he said about the president’s jobs address.
Mr. Obama’s plan focused on generating jobs and included a number of tax cuts and spending proposals, like an extension and expansion of the cut in payroll taxes and a tax holiday for small businesses for hiring new employees.
Mr. Ballew said that questions persisted about how much of the proposal would pass.
What was the markets reaction a day after Barack Obama’s more of the same class warfare, jobs speech … the Dow lost 303.68 points, 2.7% and fell below 11,000 to 10,992.13. What of Obama’s job speech, other than most of it was a repetition of previously failed Obama policies. There is a reason why only 19% of Americans think the country is headed in the right direction. The answer cannot be more of the same of this Presidents ideas. We already had a $787 billion stimulus bill that failed miserably, now Obama wants to do son of stimulus as have Congress pass a $447 billion jobs bill. Sorry if Americans are skeptical, especially when it sounded like an awful lot of class warfare in the speech. Some of his ideas might be ok, seeing that they have been out there for years, Obama just has shelved them. But the idea of coupon job hiring is a farce. Temporary infrastructure jobs, that is not the answer. Get the government out of the way of business … that can only happen when Obama is defeated in 2012.
What was most peculiar though from Obama’s speech was not his repeated comment of “pass the bill”, that was just an annoyance after the third time it was said. It was what Obama did not say as opposed to the dribble, fabrications and spin from his
jobs campaign speech. As stated at Michelle Malkin, not once were “green jobs” mentioned. Rather odd, hasn’t “green” jobs and technology been the corner stone of the Obama economy? Maybe he left it out do to the some what scandalous relationship with the WH and the now bankrupt Solyndra what receoved $500 million in stimulus monies.
Let’s face it, in last nights speech the only job that Obama was looking to save was his own.
UPDATE I: How more annoying could Obama be that constantly repeating the phrase, “pass this jobs bill” … how about the spam emails that the WH sent to reporters. Good grief Barack, a little over kill don’t you think?
Posted September 10, 2011 by Scared Monkeys
2012 Elections, Barack Obama, Economy, Green Jobs, Jobs, Obamanation, Obamanomics, Politics, Presidential Election, Recession, Stock Market, Unemployment | one comment
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One Response to “Wallstreet Has Unfavorable Opinion Of Obama’s Job Speech … Dow Down 303.68 points, 2.7%, Falls Below 11,000”
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I think the Republicans who burn with a fervent hatred at the memory of FDR’s takedown of the Wall Street speculators should in reality love Obama’s jobs program. For instance: In all the hoopla re Obama’s jobs speech, I guess the liberal denizens of the media haven’t noticed that Obama’s payroll tax extension is a backdoor and rather devious attack on Social Security, Hmm? Take a deep breath and think about this for a moment, if you please. Look (grand)ma: no more Social Security!
SM: Personally my thoughts are that the payroll tax being eliminated does not make much sense seeing that the $’s go to SS that is going to be insolvent in the near future. The real answer is to lower taxes, not a temporary storage in payroll tax. SS is teh issue, how can Obama’s answer be to not fund it. Looks like he is just crating another problem for the US.