Saturday, April 10, 2010

Quote of the Day

John Cole on what the Democrats have done wrong since Obama took office and why the Republicans will win in November:

In the past year and a half, they’ve stabilized the banks, the economy, and the major car companies, they passed health care reform that adds thirty million people and cuts the deficit long term while getting rid of the worst abuses of the insurance companies, extended the solvency of Medicare for a decade, we’re drawing down troops in Iraq, we are making progress with green energy, there has not been one successful terrorist attack on American soil, we’ve just signed a nuclear arms reduction treaty and re-examined our use of military weapons and we are making great progress on the global stage. Hell, the DOW is up over 3,000 since we got rid of the bums. Personally, we’re getting a road paved near me that was a disaster, and it is being paid for with stimulus money. We’re gonna put some people to work and have a nice paved road! And Obama and company did it all without getting blowjobs from interns.

And we’re going to reward them by kicking a lot of them out of office.

Here’s a clip from the Business Week article Brian mentioned in the comments.

It’s never easy to separate politics from policy, and the past 18 months have only increased the degree of difficulty. The U.S. has been through a historic financial crisis followed by a historic election and a series of historic federal gambles — from bailing out AIG and GM to passing a $787 billion stimulus and a $940 billion health-care reform bill. All that risk has made policy more complicated and politics more fraught (“You lie,” “Baby killer”).

A Bloomberg national poll in March found that Americans, by an almost 2-to-1 margin, believe the economy has gotten worse rather than better during the past year. The Market begs to differ. While President Obama’s overall job approval rating has fallen to a new low of 44 percent, according to a CBS News Poll, down five points from late March, the judgment of the financial indexes has turned resoundingly positive. The Standard & Poor’s 500-stock index is up more than 74 percent from its recessionary low in March 2009. Corporate bonds have been rallying for a year. Commodity prices have surged. International currency markets have been bullish on the dollar for months, raising it by almost 10 percent since Nov. 25 against a basket of six major currencies. Housing prices have stabilized. Mortgage rates are low. “We’ve had a phenomenal run in asset classes across the board,” says Dan Greenhaus, chief economic strategist for Miller Tabak + Co., an institutional trading firm in New York. “If Obama was a Republican, we would hear a never-ending drumbeat of news stories about markets voting in favor of the President.”

It must really suck to be a Republican who can’t brag about how well the market and the economy are doing if it means going against the Party line. Ha.