Quote:
Originally Posted by brk-lnt
You are correct. After 4 years in office the stock market is essentially back to where it was right before Obama was sworn in... Or to put it another way, he has managed after this time to recover all the losses, putting us at break-even over the course of his tenure.
Neither spin is particularly complimentary to his efforts, but depending on the story you want to tell, these statistics are good data points to interpret to your liking.
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No, we are not break even over the course of his tenure. If the Dow was at 12,932, the NASDAQ at 2,937 and the S&P 500 at 1,394 on January 20, 2009, then we would be at break even over the course of Obama's first term to date. In fact, on January 20, 2009 the Dow opened at 8,279, the NASDAQ composite at 1,520, and the S&P 500 at 849.
Now, I'm not saying that the increase in the markets since January 20, 2009 is because of Obama or his policies. The markets were in such a bad place when he took office that it's possible that Bonzo the chimp could have been president and the markets would have gone up. But to say that the markets have only broken even since Obama was inaugurated is simply not accurate.