Wednesday, February 11, 2009

Obama/Geithner speak, stocks plunge

Lawrence Kudlow writes:
The day after President Obama's big news conference, and on the day Treasury-man Tim Geithner unveiled his Bank Bailout Nation TARP III Plan, stock markets plunged in a vote of no-confidence, with the Dow dropping nearly 400 points.

Obama got the ball rolling by painting a dismal picture of the U.S. economy, saying recovery won't arrive until 2010 at the earliest. He then said only big-government spending can jolt our economy back to life. He also bitterly attacked supply-siders and the Bush tax cuts, ....

Pres. Obama claimed that the only person competent enough to be secretary of Treasury was a tax cheat.  Many of his selected advisers were found to be tax cheats. It seems surreal then when Obama lecture us on the evils of cutting the taxes of people who actually pay their taxes.

Hat tip: PrairiePundit.

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