Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

progree

(10,904 posts)
3. Yes, CEOs, business, and the investor community have been disappointed with Obama
Fri Jun 8, 2012, 11:22 AM
Jun 2012
{Sarcasm Alert} One can see their disappointment in the stock market. When Bush left office and Obama took office, the S&P 500 was 850. As of 6/7/12 close it is 1315, up a pathetic 55%, and it took over 3 years of "Obummer" policies to make even that small pathetic gain. (That used to be the criteria for a roaring secular bull market, but that was then, this is now, doncha know). Now its true, Bush inherited an S&P 500 of 1343, and left office with it at 850 -- a 37% decline. But that was not for lack of business and investor confidence with Bush, but rather the effects of Carter's Community Reinvestment Act.

And look at the pathetic job growth under "Oblamer".

* Under Obama there has been only 25 straight months of private sector job growth.

* Only 2.5 million payroll jobs have been created under Obama since June 2009 (that's when the recession ended according to the NBER, and only 5 months since Obama took office) (thru May 2012 with April and May preliminary) . Bush created 1.1 million payroll jobs in his entire 8 year presidency

* Only 3.1 million private sector jobs were created under Obama since June 2009 (contrast that to 0.7 million private sector jobs lost during the Bush presidency)

Again, this shows a lack of confidence of the business and investor community in "Obuhmuh". As for Bush's record, again, of course, he was doing everything he could to reverse Jimmy Carter's ruinous policies, but them there "Demtards" in Congress were keeping him from doing it.

S&P 500: http://finance.yahoo.com/q/hp?s=%5EGSPC+Historical+Prices
Payroll Jobs: http://data.bls.gov/timeseries/CES0000000001
Private Sector Employment: http://data.bls.gov/timeseries/CES0500000001




Latest Discussions»Issue Forums»Economy»CEOs Lose Their Optimism ...»Reply #3