Curmudgeon's Corner

Obama Agenda Slowing While Stock Market Increasing?

Posted by Al Campbell on July 29, 2009

Economy, Political, Quality of Life, U.S.

There is a school of thought that believes the slowing of the Obama agenda can be directly tied to the stock market's increases.  It could be argued that this is simply a Republican canard offered when the Democrat agenda is facing difficulties.  The Hill.com people looked at this 'phenomenon' today.

It is interesting, however, that there would be such a rally now when the market went down the tubes as investors looked at the programs that were being proposed in the early months of 2009.  There was real concern that we were in for a ton of new spending, there were threatening bills on many subjects that were being touted, etc.

Since that time, the wheels are quite wobbly so far as Obama's health care reform with its trillion dollar deficit and the sea change to the staus quo for the 80% or more of Americans who are very satisfied with their present health care.  The cap and tax bill has lost steam.  The thrust of nationalizing banks and major companies seems to have reached its zenith.

Time will tell, but, if there is a tie between the success of the stock market and the lack of success on the Democrat's agenda, I know which I favor...and I'll wager that I'm not alone in that position as many of us look at the 401k reports and wonder where our next job will come from and when it will arrive, and as we ponder how we'll pay the interest on the debt we're running up.

President Obama won the election by avoiding a lot of detail as he promised major programs; the addition of detail to those campaign issues has caused much consternation.  His poll numbers reflect that; and, possibly, the stock market reflects that too.

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The Curmudgeon Blog today is titled Taxing Cadillac Health Plans.