The Obama honeymoon is over: Dow drops 332
The Obama honeymoon is over: Dow drops 332 - How the World Works - Salon.com
Roll up your sleeves, Mr. President. For economy-watchers of a liberal persuasion, the euphoria induced by the swearing in of the nation's first African-American president had all but evaporated by the time the New York Stock Exchange closed for the day. The Dow Jones industrial average fell 330 points, or 4 percent, closing under 8000. The honeymoon? Over -- even before the sun had set on the first day of Obama's presidency.
The honeymoon is over: Obama stumbles
Tuesday, January 27, 2009
The honeymoon is over: Obama stumbles - Pittsburgh Tribune-Review
President Obama is beginning to strain the strands of bipartisan comity that he professed his administration intended on weaving. And he's quickly lost a large bolus of goodwill:
[list][*]Republicans, of course, don't agree with the Democrat president's plan to give tax credits to those who don't pay income taxes. And when House Minority Whip Eric Cantor, R-Va., pointed that out to the president in a White House meeting Friday last, Mr. Obama made a point of noting "I won" and that Democrats would prevail.
[*]Obama thought he had vanquished GOP presidential contender John McCain in his hip pocket, what with paying all that lip service as of late to the Arizona senator. But Mr. McCain, upset that the promise of "bipartisanship" has been broken, pulled his support for the current $825 billion economic stimulus plan. "(N)o Republican proposals have been incorporated," he said, leaving open the possibility of a filibuster.
[*]Obama's attempt to make conservative commentator Rush Limbaugh the bogeyman in the stimulus debate more than suggests the merits of his plan are weak. As Mr. Limbaugh himself notes, the tactic is straight out of the playbook of radical Obama mentor Saul Alinsky -- "Pick the target, freeze it, personalize it and polarize it."
For the nation's sake, Republicans can ill afford to roll over and play dead. And, based on Sen. McCain's stance, they're not going to. But it's the first indication that the GOP has a spine and that the honeymoon is over for the new president.