4/27/12

Neither Obama or Romney Take Free Election Money

This looks the first election where neither candidate will accept presidential matching funds to finance their campaigns.

On the surface, you say great, its a waste of taxpayer money anyway but not so fast.  

The Watergate scandal produced the system, starting in 1976 whereby candidates are allowed to use public funds to finance their campaigns.  The first to forego was Steve Forbes since he had his own fortune to spend on his campaign.  This year the matching funds would have been around $90 million.

But in the 2012 election to come, $90 million is a pittance.  Both candidates will reject public financing, instead opting for private donations which comes with no spending limits or rules and we can thank the 2010 citizens united supreme court decision for this.

Analysts expect each campaign to spend close to a billion dollars bashing each other.  

I just wonder what governing will be like after this.  It's safe to say it won't be easy!

4/10/12

President Obama and the Stock Market

On President Obama's inauguration day, the Dow Jones Industrial Average (the Dow)(DJIA) closed at 7949 and the Nasdaq closed at 1441.

As of this blog post, the DJIA is 13052 and the Nasday is 3017.

That is a gain of 64% and 109%.

To the republicans reading this, you'd say well, the President has nothing to do with the markets or it was all congress to which democrats would respond saying that wasn't what you where saying about Reagan with a democratic congress.

Bottom line is that while some of the markets performance are indeed a reflection on the President of the day, certainly some of the credit or blame has to fall on congress, on the business cycle and ultimately good or bad luck.

Its up to the politicians to decide how to frame the number but the bottom line is the bottom line, under President Obama, the stock market has done exceedlingly well, in fact, the best performance under any one term President in history!

4/5/12

JOBS bill signed into law

What's this?  A bipartisan bill?  I am speechless!

The JOBS bill signed today by President Obama may by itself not necessarily change the world but the fact that congress got together on a bill that the President would sign putting into law is proof that maybe, just maybe, the politicians are hearing what regular Americans have been saying for quite some time now - GET TO WORK!!

The bill co-sponsored by Eric Cantor (r-va) may help smaller businesses raise capital and that is great news.