Wall Street sent a very clear message the day after Mr. Obama told the nation to “pass this bill.”

The message?  Increasing taxes, as Mr. Obama promised to do, does not encourage investment or new jobs.  Adding another $450 Billion in spending will break the bank and it scares investors.

Mr. Obama’s plan is a huge negative to the business community.  A 300 point drop in the DOW spoke volumes.

A $1000 dollar saving for an employer would not convince any worthy business person to hire.  Hiring is done when there is demand for product and service.  Hiring is done when business people feel the risk is worth taking for what they assume will be the reward.  A $1,000 tax savings is not a reward that will turn many heads.  Real business people (not the ‘government and NGO type business people’ with who Mr. Obama is familiar) do not allow the tax tail to wag the economic dog.

I think Wall Street was very disappointed, as I was, after weeks of hyping his plan, Mr. Obama had no specifics to offer.  Congress has not even been sent a copy of the bill, yet, Mr. Obama said over and over and over again that Congress had to “Pass this Bill.”  Pass what bill, Mr. President?  Is this like Ms. Pelosi who said that we first have to pass the bill to find out what is in it?

This was disappointing political theater.  It was a campaign speech.  It made a mockery of what is supposed to be a serious body – the joint session of Congress.  Wall Street saw it as such and registered its feeling with the 300 point drop.  In spite of all the mainstream media cries that the drop had nothing to do with Mr. Obama’s speech and everything to do with the European economies, we know the truth as does Wall Street.

I’m not sure what I expected but I know that I am VERY disappointed that Mr. Obama passed on the opportunity to do something positive and instead chose to play politics again.

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