The Other McCain

"One should either write ruthlessly what one believes to be the truth, or else shut up." — Arthur Koestler

This Just In: Obamanomics Sucks

Posted on | June 3, 2011 | 14 Comments

Are folks on Wall Street finally figuring out what the folks on Main Street have known for two years?

U.S. stocks fell Friday to cap their first five-week losing streak since July 2004, as a dismal jobs report added to the drumbeat of investor concerns about a slowing economy.
The Dow Jones Industrial Average fell 97.29 points, or 0.8%, to 12151.26, led lower by Alcoa, which dropped 28 cents, or 1.7%, to $15.92. The blue-chip index has dropped 5.1% during its five-week losing skid and closed Friday at its lowest level since March 23.
Friday’s declines come after the DJIA had slumped 321 points in back-to-back sessions. The average registered its biggest three-day drop since March 16.

Meanwhile, the D.C. press corps — which would be crediting Obama as a miracle worker if the economic picture was looking up — must instead endeavor to exculpate him from blame:

What can Obama do to fix
the economy? Not much.
— Politico

See how this works? You can be sure that if a Republican were in the White House and unemployment was at 9.1%, there wouldn’t be any “Don’t blame the president” headlines in the newspapers. Here’s a video report from Associated Press:

Category: Barack Obama, Economics

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