the market now realize that Obma is NOT a pragmatist, rather he is an extreme liberal. He could have very easily put together a stimulus plan that would have gotten 75 votes in the Senate - a majority of both parties. A stimulus plan that would actually stimulate the economy. Instead he chose to vastly increase the size of government...STRIKE ONE
then he released his budget: tax increases, reduced mortgage deductions, and a carbon tax. All three things are big no-nos during downturns. The market HATED it....STRIKE TWO
Obama is in danger of becoming irrelevant.
He should go back to Congress, meet with a group of 12 moderate Dems and 12 moderate GOPs and AMEND the stimulus, and AMEND the budget, and AMEND the cramdown mortgage plan, and find the quickest way to shut down banks like Citigroup.
The market isn't dropping because of Obama's plan, the market is dropping because of the utter disaster Obama inhereted from Bush.
