Sunday, March 08, 2009

Chris Wallace And Brit Hume Point To Obama's Policies As Cause Of Stock Market Losses

The Fox News commentators discuss the Obama administration's effect on the stock market.

Choice item from the video:

....most people entered this period of the new Obama administration thinking that it probably was bottoming out and that he would give by his very presence and by what he would offer real hope and that it would at least change the psychology a bit. It has changed the psychology, it seems, for the worse and I think he does bear responsibility for that, and the impression that he has managed to leave is that hes too busy with massive new spending and a scatter shot stimulus bill which was reckless and breathless new initiatives.

The National Review reports in its Campaign Spot that sources close to the administration say that the chief executive is overwhelmed by the massive downturn in the market and the economy and worry that the President is not getting enough rest.

In commenting on the President's recent informal meeting with British Prime Minister Gordon Brown, the article points out that, allies of Mr Obama say his weary appearance in the Oval Office with Mr Brown illustrates the strain he is now under, and the president's surprise at the sheer volume of business that crosses his desk.

A well-connected Washington figure, who is close to members of Mr Obama's inner circle, expressed concern that Mr Obama had failed so far to "even fake an interest in foreign policy".

The American source said: "Obama is overwhelmed. There is a zero sum tension between his ability to attend to the economic issues and his ability to be a proactive sculptor of the national security agenda.

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