Stock Market Down Roughly 1,000 Points Since Obama Signed Debt Deal

Remember, the talking point from the left during the debt deal debates was that we had to raise the debt ceiling and clear the way for more deficit spending in order to bring certainty back to the markets.

Well, we raised the national debt ceiling and the deficit spending continues, but since Obama signed the bill authorizing these things the markets have tanked. Here’s a snap shot of the Dow going back to August 2nd through the time of this post:

At what point do we admit that the problem wasn’t the government’s inability to borrow but rather the government’s overspending?

Rob Port is the editor of SayAnythingBlog.com. In 2011 he was a finalist for the Watch Dog of the Year from the Sam Adams Alliance and winner of the Americans For Prosperity Award for Online Excellence. In 2013 the Washington Post named SAB one of the nation's top state-based political blogs, and named Rob one of the state's best political reporters. He writes a weekly column for several North Dakota newspapers, and also serves as a policy fellow for the North Dakota Policy Council.

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  • $8194357

    The Democrats would have to admit the truth and they are incapable of doing that as are all liberals.

    • ellinas1

      I a democrat would like to admit the truth but am incapable of doing that, as are all liberals.
      Now go figure…..

      • robert108

        Freudian slip.

      • Neiman

        Well praise the Lord, you done seen the light!  : )

        • ellinas1

          Praise the Lord indeed. ;-)

          • Neiman

            That was a wink – not a smile, are you jesting or as my special needs students might say, are you joking me?

          • ellinas1

            It was a wink and a smile.
            Interpret it any way you want.
            Nothing sinister in my part.

      • $8194357

        And I a Constitutionalist Conservitive have held a gun to your head? Go figure..

        • ellinas1

          I have never said anything of the sort, nor have I ever accused you of such malarkey, writing designed to obscure, mislead,and impress, and or bunkum, insincere talk, and claptrap or the most commonly used term: bullshit.

          • $8194357

            And used as “talking points
            ‘ by the left every day for decades..Ya, now your catching on E…

          • ellinas1

            No I am not.

  • http://flamemeister.com flamemeister

    Liberals: Thumb-sucking, pants-pissing incompetents.

    • ellinas1

       That’s me. How you arrived to such an accurate conclusion should remain a secret.
      Unless it was a lucky guess…….
      Now excuse me while I suck my thumb, and engage in pant-pissing because I am an incompetent liberal. /sarc

      • http://flamemeister.com flamemeister

        It is quite a pleasure, no doubt with deep psychological roots, to just relax and piss one’s pants.

        • ellinas1

          I am loving it! It’s like an orgasm and a hashish high combined.

          • robert108

            TMI!

          • Bat One

            As I recall, that’s a pretty potent combination.

          • ellinas1

            As I recall it, it is.

          • Bat One

            Sigh…

          • ellinas1

            There is a solution for half masts……

          • Bat One

            So I’m told.  But there is no “solution” for the beckoning warmth of yesterday’s memories.

          • ellinas1

            Maybe sometime in the future…not in our lifetime.

          • $8194357

            I don’t want to know how you know that E..ha.ha.

          • ellinas1

            What are you afraid of? Huh?

          • $8194357

            IMO E, Even in moderation, some things are just better left alone and are not for me…God Bless old greek one..

  • SigFan

    Well, the market is certain.  Certain that we are screwed big time. 

  • HG

    The market seems certain that the President’s policies will not result in economic prosperity.  Congratulations Mr. President, you brought certainty to the market.

    • $8194357

      See, HG. He really “didn’t” lie. He inverted the truth to fit his “negetive” meaning. Marxists been playing these “word games” for a couple of centuries already.

      • HG

        I see it alright.  “Leading from behind”, “revenue increases” (ie, tax increases), “tax cuts not payed for”, “spending cuts” (ie, reductions in the automatic 5.6% annual increases), “balanced approach”, “unemployment rate” (that omits unemployed no longer looking for work), etc.

        This is nothing new for the left who also have given us such gems as “gay marriage”, “Planned Parenthood”, “pro choice”, “global warming”, etc., etc.

        • http://nofreelunch.areavoices.com/ Kevin Flanagan

          Don’t forget “comprehensive immigration reform.” (amnesty and open borders)

          • HG

            True.  The list goes on and on.

  • ellinas1

    Stock Market Down Roughly 1,000 Points Since Obama Signed Debt Deal
    Rob Port  •  August 8, 2011

    Stock Market Down Roughly 1,000 Points Since Obama Signed The Republican/Conservative Debt Deal
    Ellinas1 on August 8, 2011.

    • robert108

      Wrong again.

    • HG

      We would have been better off with no debt ceiling increase.

      • ellinas1

        We would have been better off if we started paying our bills.
        No more borrow and spend.

        • HG

          That requires a 1% cut in current spending levels per year for the next six years.  What gov’t just passed said we will only spend 1 trillion less than gov’t wants to spend over the next ten years.  So we still actually spend trillions more over the next ten years than gov’t currently spends.  In other words, there were no cuts in the deal gov’t passed.

          • ellinas1

            Are you surprised? Why?
            Speaker Boehner said he got 98% of what he aimed for.

          • robert108

            Within the very narrow window Lord obama allowed.  Remember all his veto threats?  Talk about hostage taking.

        • robert108

          Just like Greece.

  • HG

    This reminds me of how we were told some corporations were too big to fail.  We were promised things would be better and unemployment would be lower if we went along with the gov’ts fix, QE1 & QE2.  What we got is exactly what they warned us we would get without the gov’t fix.

    Fast forward to today.  We were told without the debt ceiling increase our AAA rating would be downgraded and markets would real worldwide.  Well we got the debt increase and the dire predictions to boot.

    Folks, gov’t is the problem here, not the markets.  Every economic crisis of the past 30 years can be directly tied to stupid gov’t policies.  We need smaller less influential gov’t, period.

  • DopeyDem

    You have to get government to stop spending more automatically every year before before you can do anything else. If you just stopped the 9% increases that occur every year into the future, your debt rating would jump back to AAA overnight. 

  • borborygmi

    Obama signed the debt deal put together by Boehner and Reed.   S&P did down grade our rating.   Teasters didn’t want anything signed but wanted U.S. to default……I wonder where we would be if we followed the Teasters advice?

    • HG

      Nobody wanted default and not raising the debt cap would not trigger a default.  Who you parroting, borborygmi?

      • robert108

        Dem talking points, as always.

      • borborygmi

        Minnesota Rep. Michele Bachmann says she wouldn’t vote to raise the debt limit — and is dismissing concerns that the nation would default on its loans as “scare tactics.”
        Appearing on CBS’s “Face the Nation” on Sunday, the GOP presidential candidate cited federal spending as a top concern and said she believed the country would still have the revenue to meet its debts and obligations.
        “It would be very tough love,” she said of a “no” vote.
        But, she added: “I’ve been in Washington for a long time, and I’ve seen smoke and mirrors time and time again.”  From Politico…   damn now  Bachmann is a Democrat…….Who Knew

        • robert108

          Michelle was right; this downgrade is due to obama’s fiscal irresponsibility.

    • robert108

      There was never any danger of a default; that was Dem fearmongering to deflect us from the path of fiscal sanity.  obama had many chances to come up with a plan, and couldn’t do it.  Now you’re whining because he had no input.  His choice.

      • borborygmi

        http://wwwwakeupamericans-spree.blogspot.com/2011/08/video-boehner-on-debt-deal-i-got-98.html
          Boehner claiming he got 98% of what he wanted.  Looks like the Republicans own it.   

        • http://realitybasedbob.sayanythingblog.com/ realitybasedbob

          You’re damn right they F’n own it.

          Compared with previous projections, our revised base case scenario now assumes that the 2001 and 2003 tax cuts, due to expire by the end of 2012, remain in place. We have changed our assumption on this because the majority of Republicans in Congress continue to resist any measure that would raise revenues, a position we believe Congress reinforced by passing the act.

          gop got what it wanted, financial chaos.

          • robert108

            That’s what obama wants; the Republicans want fiscal sanity.  You know, stop spending more than we take in? Balancing the budget is the exact opposite of financial chaos.

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