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Kudos to Bush. He achieved a rare double. He is perhaps the only President to have two separate, stand alone bear markets in one presidency. First, there was 2000-2002 where the Dow dropped by more than 20%. Second, there is the current bear market in which the Dow has dropped 20% and continues drop as noted by today's fall below 11,000.
There are other Presidents who had a greater single decline in the stock market, but in the past 100 years or so, I think Bush may be the one President who presided over 2 separetly bear markets.
So, someone remind me why the GOP is so much better for American business? I guess Cheney was wrong. Deficits do matter, and wiping out the surplus has caused the dollar to plunge, oil prices to soar, and the economy to tank.
It simply is not optional to sit on the sidelines during this election. If McCain makes Bush's tax cuts permanent as promised, what affect will this have on the dollar? On the oil prices? On the economy?
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