The stock market sure does hate the Obama presidency.
by Rense Johnson, Chairman
Citizens for Term Limits … for a fresh Congress!
March 2, 2008
Thinking Americans are alarmed at what Obama’s tactics will cost America in terms of dollars, not to mention inversion and abandonment of the country our Founders constructed 230 years ago. But there is another sinister, more immediate measure of cost.
In less than three months since election day, the Dow Jones Industrial Average lost three quarters of its value. And that is just the Dow.
Adding in all the other stock market measures that move in sync with the Dow, and correcting for duplications, one can only imagine the hundreds of trillions of dollar value that has evaporated.
Hopefully, someone smarter than I can put together a more accurate dollar figure.
We can guess the administration’s response: “These are only the upper two percent.”
Wrong.
The loss represents a gigantic chunk of national wealth which would have been available for beneficial investment and job-creation, swept away in a national tsunami of destruction.
President Obama and his crew of amateurs are rushing pell-mell toward the point of no return.
The only way to stop this runaway train? Congressional term limits. Remove career politicians from Congress and replace them with citizen legislators.
Difficult? Yes. Impossible? Absolutely not. American voters are with us overwhelmingly. That is what makes congressional term limits by constitutional amendment achievable.
We must remember that congressional makeup can be changed faster than the other two branches of government, the presidency and the supreme court.
Essential? Absolutely. And time is our enemy.
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