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	Name:	MartiniMan -
	Subject:	why the stock market went up yesterday
	Date:	7/8/2010 8:09:03 AM

I too am skeptical but the words were encouraging at least. I do find it odd that investors would respond so quickly to mere words when we have 18 months of actions and policies that are diametrically opposed. It seems to me that his low approval rating with Independents (~35%) would improve if his actions were aligned with the words but he may lose some of the support of his base ala Bush in the last two years of his administration.

In short, he has gotten himself into an incredible mess and it seems very unlikely that politically he could extend the Bush tax cuts. What he may not understand is that for the tax reduction to have any effect it must be long-term and preferably permanent. I realize nothing is permanent in Washington but by that I mean not have some short-term sunset provision. I also am not confident that he understands that the majority of small businesses pay business taxes through their personal taxes and that the left wing nuts will go crazy if there are tax cuts for the "rich". Finally, he has created such a monumental debt with his porkulus spending that he may find little support in the current Congress for tax cuts, even though they always increase revenue to the treasury.

It is highly ironic that Obama's best hope for reelection is for the GOP to take control of Congress and force on him some much needed relief with spending, taxes and the anti-business atmosphere just like Clinton.

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why the stock market went up yesterday - water_watcher - 7/8/2010 7:18:42 AM

why the stock market went up yesterday - MartiniMan - 7/8/2010 8:09:03 AM

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