Mitt Romney and the GOP keep saying over and over that President Obama is ruining our economy and destroying the U.S. business environment. But wait a minute. Let's look at the record according to the right-wing business community's own bedrock-solid financial sources -- the Dow Jones Industrial Average and the S&P 500.
On Jan. 29, 2009, the day Obama took office, the DJI closed down at 7,940 and the S&P 500 was at 805. Today, three and a half years into President Obama's administration, the DJI closed up at 12,880 and the S&P reached 1,362. These numbers represent a 62 percent increase in the DJI and a 69 percent increase in the S&P.
Pretty substantial improvement, not the other way around. Both of these business reports are also known to be forward indicators -- that is, they predict the future direction of the improving U.S. economy. So why would Romney be distorting the facts as reported by the Wall Street Journal?
Jonathan Jay, Richland