Grading Obama: The Wall Street Test

The day Obama was sworn into office the stock market dived and Fox News knew who to blame: The President. They called it The Obama Bear Market though the market had been in free fall well earlier. (See transcript after the jump.)

However, now that the President has had time to implement many of his ideas into actual policy, the banking, automobile and housing sectors are back on their feet as the economy has turned around, and the stock market soared to new heights. According to the Bespoke Investment Group, Obama has joined an elite group of Presidents who have Presidencies were marked by rallies in the Dow Jones of 50% or more during their first three years in office:

  • Franklin Delano Roosevelt
  • Bill Clinton
  • Dwight Eisenhower
  • Calvin Collidge
  • Barack Obama

Strangely enough, Fox News has stopped using the stock market as a criteria to judge presidential performance.

Extract from Fox News’ Hannity (March 5, 2009) follows the jump.

Fox News’ Hannity (March 5, 2009)

HANNITY: The Dow is literally tanking. It’s going down here. The president said he’s not watching the gyrations of the stock market.

OBENSHAIN: Oh, my gosh.

HANNITY: I’m thinking, this is like, well, it’s just like a political poll. And I’m thinking, well, a political poll? When people lose now —

OBENSHAIN: Unbelievable.

HANNITY: — we’re heading to 5,000? And people lost, you know, 60 percent of their money?

OBENSHAIN: In two and a half months, Barack Obama has added more to the deficit than George Bush did in eight years fighting two wars and dealing with Katrina. Of course, the markets are in a free-fall, because they recognize what’s happening here.

NICK DiPAOLO (comedian): Exactly.

STEVE MURPHY (Democratic strategist): That’s not what it is, but go ahead, Nick.

OBENSHAIN: That’s part of what it is.

MURPHY: That’s not what it is.

DiPAOLO: The free market is allergic to socialism. This is the reaction you should — the Wall Street — it should be.

HANNITY: Well, wait a minute.

DiPAOLO: Wouldn’t you get scared if it went up?

MURPHY: Nick, they’re all socialists on Wall Street themselves.

HANNITY: Well, but I mean, that’s the point. It is a reaction. Wait, it is a reaction.

DiPAOLO: It’s an allergic reaction to his baloney.

HANNITY: If they had so much faith and confidence in his plan — because, remember, markets don’t react emotionally. Markets react to numbers.

OBENSHAIN: Right.

HANNITY: If they had faith and hope in his plan, why wouldn’t they react more confidently?

Jewish Values Not on the Agenda For the 2011 Values Voter Summit

— David Streeter

2011 “Values Voter” Summit Schedule Featuring GOP Presidential Candidates To Conflict Yet Again with the Jewish High Holidays

The National Jewish Democratic Council (NJDC) today criticized the 2011 Values Voter Summit in part because — for the third consecutive year* — the conservative conference coincides with the Jewish High Holidays. The 2011 Values Voter Summit, which will feature a majority of the Republican presidential candidates, perfectly symbolizes how the modern conservative movement does not include Jewish values under its umbrella. This year, the conference occurs on Yom Kippur, the holiest day of the Jewish calendar.

More after the jump.

NJDC President and CEO David A. Harris said:

Conservatives have been aggressively targeting Jews recently by touting their pro-Israel positions. But what they continually fail to understand is that pro-Israel rhetoric only goes so far. Polling consistently shows that the sweeping majority of American Jews abhor the conservative domestic policy positions — particularly on social issues — that will be discussed this weekend. With this in mind, American conservatives should explain how they intend to make Jews feel welcome in a political movement that advances an agenda opposed by most in the Jewish community and continually holds its flagship conference on the Jewish High Holidays.

This year’s conference falls on Yom Kippur — the holiest day of the year — and will likely have significant ramifications for the 2012 Republican presidential ticket. Such a repeated scheduling conflict further symbolizes that the conservative movement and the Republican Party do not represent the values of most American Jews. Quite simply, this weekend’s confab is a textbook example of why Jews remain solidly committed to the Democratic Party and its positions.

Republican presidential candidates attending this year’s summit include:

  • Former Massachusetts Governor Mitt Romney
  • Texas Governor Rick Perry
  • Representative Michele Bachmann (R-MN)
  • Godfather Pizza CEO Herman Cain
  • Former Senator Rick Santorum (R-PA)
  • Former House Speaker Newt Gingrich (R-GA)

Other Republican elected officials speaking this weekend include:

  • Louisiana Governor Bobby Jindal
  • House Speaker John Boehner (R-OH)
  • House Majority Leader Eric Cantor (R-VA)
  • Senators Jeff Sessions (R-AL) and Roy Blunt (R-MO)
  • Representatives Ann Marie Buerkle (R-NY), Vicky Hartzler (R-MO), Mike Pompeo (K-KS), Steve King (R-IA), and Jim Jordan (R-OH)
  • Republican Virginia Attorney General Ken Cuccinelli

Leading conservative media personalities Glenn Beck and Sean Hannity are also scheduled to speak.

In addition, the 2011 Values Voter Summit has many breakout sessions scheduled for the weekend that conflict with the sensibilities of most Jewish voters. While Republicans on Capitol Hill pay lip service to a supposed jobs agenda, this conservative summit focuses on such hot-button social issues as “How the Welfare State Erodes the Family,” “Exposing and Defunding Planned Parenthood, America’s Abortion Giant,” and “Straight Talk on Gay ‘Marriage'” [Values Voter Summit] — conflicting with the positions of the vast majority of American Jews.

With such an extreme lineup, most Jews would be unlikely to attend. But the scheduling of the event — which makes it impossible for any Jew observing Yom Kippur to attend — takes this year’s conference to new heights in repelling Jews from the conservative movement.

The 2011 Values Voter Summit’s content, in addition to its scheduling, contains nearly all of the elements that remind most Jews that today’s conservative movement and its Republican leaders do not reflect their values. Events such as this are a prime example of why the Democratic Party remains the historic and continued political home for the sweeping majority of American Jews.

* – Details:

  • In 2010, the Values Voter Summit was held September 16-19 — conflicting with Yom Kippur, which fell on September 17-18.
  • In 2009, the Values Voter Summit was held September 18-20 — conflicting with Rosh Hashanah, which fell on September 18-20.