Chris Matthews, back on February 23, in an appearance where he was strikingly critical of Obama’s early decisions on the economy: “I thought 8,000 was the floor, and it looks like 6,000 is the floor. People are angry, I’m getting angry.”
Today the Dow Jones Industrial Average dropped below 7,000, hitting its lowest level in twelve years. As of this moment, the Dow is at 6,831, down more than 230 from the open.
Now, this isn’t just Obama; the fact that AIG is in such dire straits (and getting yet another round of federal bailout funds) is a major contributor.
Having said that, to refresh, on Election Day 2008, the Dow closed at 9,625.
On Inauguration Day 2009, the Dow closed at 7,949.09.
The first full month of the Obama presidency was the worst month for the stock market since 1933.