By James J. Devine
President Obama was talking about roads and bridges when he said, “If you’ve got a business, you didn’t build that.”
He was making the point that, “There are a lot of wealthy, successful Americans who agree with me, because they want to give something back.”
Republicans are jumping all over those remarks because they want America to believe that Obama is anti-business, as if the Republicans ever had a record of supporting real entrepreneurs.
On October 29, 1929, also known as the Great Wall Street Crash of 1929; Republican President Herbert Hoover was in office.
Republican President Ronald Reagan occupied the Oval Office on the infamous Black Monday stock market crash in October 1987 in which the Dow Jones lost almost 23 percent of its value.
Republican President George W. Bush was in the White House when the Dow Jones Industrial Average lost 778 points, in the biggest single-day decline ever on September 29, 2008.
The Dow Jones Industrial Average closed at 7,949 on January 20, 2009, the day Barack Obama began his presidency, and today it closed at over 12,805, for a 60 percent increase.
Obama is one of only five presidents whose first three years in office were marked by the Dow Jones Industrial Average gaining 50 percent or more. The other four are Democrats Bill Clinton and Franklin Delano Roosevelt, and Republicans Calvin Coolidge and Dwight D. Eisenhower.
Claims that he is bad for business are as unfounded as accusations that he is not American or holds a socialist agenda far removed from that of most voters. It raises concern that if Republicans cannot give voters a real reason to support their candidate and thus are driven to making up bogus stories, then there is no reason to consider voting for the GOP.
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