On January 20, 2011, when George W. Bush took office as President of the United States, the Dow Jones Industrial Average (DJIA) was at 10,587.60
Bush immediately implemented his economic plans based on right wing ideology, and this had an immediate negative effect on the US economy. For example, on March 20, 2001, the DJIA closed below the previous year’s low for the first time since 1982.
Barack Obama took office on January 20, 2009, and when he did, the DJIA was at 7,365.
As of the date this is posted, the DJIA closed at 13,149.55
Let’s crunch the numbers a bit:
During Bush II, the US economy experienced a steady decline that culminated with a virtual systemic melt down. During Bush’s term in office, the DJIA lost 3,222.6 points.
The Obama years saw, at first, a worsening economic climate, with the DJIA dropping even further. Non partisan economists believe this was due in large measure to the downward momentum from the collapsing economic system Obama inherited from Bush II. However, as of now, during Obama’s term the DJIA has added 5,784.55 points.
The GOP is offering us Mitt Romney to replace Obama. Here is the problem: Mitt Romney is a somewhat stupid rich guy who is out of touch with the real world and who relies on weird economic nonsense born more of ideology than reason.
Romney wants to give the rich a tax break and pay for it by taxing the poor. No fooling.
But we already tried that with Bush II. It didn’t work. Obama, for all his many, many faults, has made it better.
The American people are being asked to try again what didn’t work the first time and to replace a devil we know with a devil we don’t.
The American people will pick the devil they know – warts and all. They won’t believe the shrill screams from the lunatic Right that Obama is responsible for the economic mess he inherited. They won’t believe that he can’t take credit for the recovery we’ve experienced.
That’s all there is to it. Romney cannot win without moderate republican votes like mine, and I won’t vote for a return to the policies of Bush II.
I am going to do what most Americans will do – I will look at the DJIA for a sign of economic health and I will look to see if my SEP retirement fund has recouped the losses it suffered during Bush II.
It has. My retirement fund is in the black again for the first time in years. And I’m feeling a bit more secure and eating out more. Buying that bottle of wine. Taking that short vacation. Not caring quite as much if the lights are left on or not.
I hated living otherwise. I hated being afraid. I remember being afraid that the banking system would crash and the rest would follow. I started wondering if I should hoard black pepper because it might be hard to get when the international trade system collapsed.
I will never forget what that felt like. I won’t jeopardize the positive change that has come – albeit slowly.
The GOP could have given us Jim Christie. The GOP could have embraced Ron Paul. But it didn’t. They found someone as much like George W. Bush as they could.
It isn’t my fault if Romney isn’t a viable candidate.
It isn’t my fault that the GOP did everything it could to keep the economy from improving – and failed.
It infuriates me that keeping the economy bad was their big strategy to being with. It isn’t my fault that the Republican elite is praying – and scheming – for an economic downturn right before the next election. It isn’t my fault that the GOP strategists decided it was a good idea to spread rumors that Obama was born in Kenya and pander to bigotry by spreading the rumor that Obama is Muslim (or “muslin” as they say in the deep red states).
All they had to do was run on Obama’s record – which is really, really bad, – and give us a viable alternative. It isn’t my fault they decided to focus on something else.
I feel bad I cannot vote for Romney. All I am doing is pursing my personal best interests. That is all any American voter should be expected to do. And that is why Romney will lose.
UPDATE: The latest employment figures were disappointing: unemployment dropped, but the number of jobs created was lower thane expected.
Romney wins in November!!!