Wall Street Gives Obama an “F” on His First Month in Office

 Before the election polls showed that candidate Obama was trusted more with the economy than was John McCain. Candidate Obama was able to blame the economy’s downturn on President Bush and he was also successful at linking John McCain and his policies to the former president.

 John McCain was leading most of the polls, although they were close, until the economy took a turn for the worse. This is when Barack Obama took the lead in the polls and never looked back.

 Considering that the main issue responsible for the election of  Barack Obama was the economy I think it is time that we look at what the economy has done since his election and in particular since he signed the stimulus bill and announced his plans to bailout deadbeat mortgage holders.

 Both of these plans were supposed to help steady the market and begin recovering the economy, but so far the exact opposite has happened. On the day that Treasury Secretary Timothy Geithner gave his first public speech the stock market fell three hundred points and on the day that President Obama signed his welfare stimulus bill the stock market fell about two hundred and fifty points.

 The Dow Jones is down 10% since the inaugural and Wall Street is very nervous about the plans that President Obama has either put in place or plans on putting in place. Considering that these plans were supposed to shore up weary investors and prop up the economy the early results are not good.

  Wall Street has graded the president on his first month in office and his economic plan and so far they have given him an “F.”

 It is too early for the stimulus to have had any real effect on the economy but Wall Street’s negativity shows us how the stimulus and the deadbeat mortgage bailout bills are expected to affect the economy.

 As the economy continues to worsen President Obama is determined to spend his way out of this crisis and it appears to be backfiring. The more he looks to spend the more stocks drop.

 It is my contention that as the election drew closer and Obama emerged as the likely winner that Wall Street began it’s sell off in anticipation of just the kind of legislation that President Obama has passed and is currently fighting for. Wall Street knew what was coming, even if the average American didn’t, and the sell off is not likely to stop any time soon.

 President Obama claimed that action had to be taken immediately to avoid a catastrophe, the left claimed that we had to do something, that to do nothing would be irresponsible. According to the initial results we would have been better off doing nothing. President Obama’s plans could be the catastrophe he warned us about.