Obama on the Defensive as Stock Rebound Continues

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Posted on Mar 12, 2009

White House / Chuck Kennedy

The Dow is up another 240 points, gaining 9.5 percent over the last three days, but the president doesn’t want you getting too excited about it—or too distraught when things inevitably swing the other way.

With economists and even fellow Democrats panning some of the administration’s ideas, the White House is on the defensive, despite a rare spate of upbeat economic news.

AP via Google:

“A smidgen of good news and suddenly everything is doing great. A little bit of bad news and ooohh, we’re down on the dumps,” Obama said. “And I am obviously an object of this constantly varying assessment. I am the object in chief of this varying assessment.”

“I don’t think things are ever as good as they say, or ever as bad as they say,” Obama added. “Things two years ago were not as good as we thought because there were a lot of underlying weaknesses in the economy. They’re not as bad as we think they are now.”

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TAGS: barack obama democrats dow economy geithner politics stocks wall street

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By christian, March 13, 2009 at 2:20 pm Link to this comment

Whats really sad is how when either side is wrong, they don’t have the balls to admit it.  It’s all about proving the other side bad.  Anybody with any sense should know that both sides do good and both sides do bad.  Both sides have their hidden agendas and those that point out the other bad and turn a blind eye to their own wickedness are hypocrites. They are not interested in what is right or wrong, they are only interested in proving a point whether or not it exists and ignoring points that plainly do exist.

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By JFoster2k, March 13, 2009 at 12:26 pm Link to this comment

I find it sad and humorous that the Fox pundits like Hannity have been screaming bloody murder about the stocks dropping since Obama took office. Now that we have serveral consequtive days of gain they are strangely silent about the market.

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By Stephen Smoliar, March 13, 2009 at 9:18 am Link to this comment

As I see it, Obama is expending all of his rhetorical armory to try to get the rich and mighty of the Business Roundtable to grow up and get back to work:

http://therehearsalstudio.blogspot.com/2009/03/object-in-chief.html

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By christian, March 13, 2009 at 9:14 am Link to this comment

Welcome to the world of: your damned if you do, and your damned if you don’t.

I have a feeling barak and bush are going to become bosom buddies before this is all over with.

I can’t wait to see how he handles the mob of angry people from all four sides that he’s made promises to and can’t possibly keep.

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By coloradokarl, March 12, 2009 at 8:17 pm Link to this comment

They are going after my future Health Care ! If I don’t get it this year I am going to change My tax structure.  When I figure it out I’m am going to teach some of my 45,000,000 fellow uninsured friends all they need to know to do the same! And all you fully insured government employees can go straight to Hell !  I mean this from the bottom of my heart. Beware of the Angry White Men…..............

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By TheRealFish, March 12, 2009 at 8:01 pm Link to this comment

Amen. Before this cliff diving expedition we are now on, the wildest, widest stock market plunges and surges—that means steepest uptick in the stocks in its history (maybe until recently)—happened in the throes of the *last* Great Depression.

And those record highs didn’t signal the end of that depression; they happened right in the middle of it.

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By P. T., March 12, 2009 at 7:51 pm Link to this comment

Obama is right.  The stock market is not what matters.  What matters is what is happening in the real economy, not how speculators are betting today.

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