Jim Cramer responds to the White House
CNBC “Mad Money” host Jim Cramer, a Democrat, responds in a new column to White House pot-shots at him for having criticized the President’s economic agenda.
Cramer endorses Obama’s entire big-government agenda — except for what the President has done on the economy. He says Obama’s actions are wrecking the economy, making the nation poorer and prompting would-be investors to shield their money. (On his show, Cramer has begun a segment in which he highlights “Obama-proof stocks.”)
Cramer was just as critical of Bush economic policies at the end of the administration. This is not partisan. It’s economic. It comes as many Senate Democrats are trying to scale down Obama’s budget proposals because they are so astronomically large. More and more Democrats are seeing that Obama is not acting wisely, and they are becoming increasingly concerned.
Cramer gets it. The President’s first duty right now is to stabilize the economy. But Obama has so far done exactly the opposite by throwing out a hodge-podge of awful and self-evidently destructive policies. Cramer joins the Wall Street Journal, this newspaper’s editorial page and many, many others in noting that every one of Obama’s economic recovery proposals has sent the stock markets down, not up. Obama clearly is eroding confidence in the markets and in his administration’s ability to deal effectively with the recession.
What’s interesting is that Obama was supposed to be this great listener. He was supposed to be the guy who listened to contrary opinions and acted wisely. Not so far. He has simply rammed through his own agenda, apparently without consulting anyone. And when criticized, he has instantly attacked, demonizing and marginalizing his critics. That sounds just like the liberal caricature of our last President.
Cramer gave his honest thoughts as a market analyst on the effect of Obama’s economic policies on the market, and for that the White House attacked him.
Facts are facts, and right now it is crystal clear that Obama’s economic recovery policies have sent investors fleeing from the markets, which has hurt the economy. Obama is botching his most important job right now. If he doesn’t get it right soon, a lot more of his voters are going to be having fits similar to Jim Cramer’s.
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