When the Dow dropped two-plus years ago to just over 6000, it was widely stated that many "main street" Americans whose retirement funds were invested in equities were badly affected. Increasingly, President Obama' administration was held accountable for the market drop and the sour state of everyone's retirement funds. However, now that the market is back over 12,000 (see Dow results for Feb. 8, 2011 at: http://money.cnn.com/data/markets/dow/ ) and retirements funds have rebounded nicely, I don't hear a corresponding chorus of credit being attributed to the Obama Administration. It should!
Oddly enough, some people suggest the increase in the Dow shows how cozy the President is to Wall Street - NOT. Let's not be ahistorical, this President has done much to help bring the country out of the worst recession in our history and is trying all at his disposal to kick-start the economy. However, Companies sitting on tons of cash and posting significant profits, but not hiring Americans while banks drag their feet on stopping foreclosures and writing mortgage-redos only adds to the problem. But Republicans and others complained when the President first sought to limit CEO compensation levels at companies receiving bail-outs and stopping bonuses to Wall Street elite performers and senior officers. It seems the President can't win for loosing.
At bottom, the President is effectively managing a difficult period in the life of our country - at home and abroad - and deserves more credit and help from both the Republican, conservative right and the Democratic, liberal left. Additionally, the President and the country also needs more Democrats to solidify our voting strength and return Democrats to power in local and state government and both chambers of the US Congress.
In NE Florida, the return to Democratic rule begins in March with our local elections - VOTE BLUE.
Back in it to WIN it!