Hastert: Stock market rally proof GOP economic policies of tax relief work

[sabra]

http://www.cnsnews.com/news/viewstory.asp?Page=/Nation/archive/200610/NAT20061018c.html

<snip>

"Today's record-setting stock market rally is proof that Republican economic policies of tax relief work," said House Speaker Dennis Hastert in a news release after the index of 30 big-name stocks reached 12,049.51 just after trading began Wednesday morning.

Although the Dow Jones average later retreated below the 12,000 level, the Illinois Republican still found good news in the fact that the index had set closing records seven times during the past two weeks.

"In addition to the stock market's record-setting growth, the federal deficit is on track to be cut in half three years ahead of schedule; gasoline prices continue to fall; more people are working today than ever before, and unemployment is at a record low of 4.6 percent," Hastert noted.

...

"If Democrats had their way, they would erase stock market gains by raising taxes and stalling the economy, destroying job growth and putting leaders in place that are in favor of tax increases," Hastert said.

"In fact, if the Democrat majority blocked our efforts at making tax relief permanent, (House Minority Leader) Nancy Pelosi and the leadership would raise taxes on hard-working American families with two children by at least $2,000," Hastert noted.

[Drum]

1. Desperate, and untrue.

[wicket]

2. Hmmm...Clinton raised taxes in 1993...

...remember how the stock market tanked after that in the 1990s? :sarcasm:

[AIJ Alom]

3. Self-inflated and overvalued. Two things Republicans have in common with

stocks.

[onethatcares]

4. well hell yeah,.

but how many of us have enough money and time to sit around swapping stocks all day? Where is all that profit, based on guess work going? It certainly isn't trickling down to the working class, unless you count the number of lawn services being formed each day,

[The_Casual_Observer]

5. It's being fueled by speculation & redirection of money out of real

estate. It has nothing to do with the economy. Did hastert say the same thing three months ago when the market was down 10%?

[Johonny]

6. Look

today the market is up that's due to our tax cuts. Yesterday when the market was down that was due to Demcocrats. Now if only Hastert would tell me ahead of time which days the Tax cuts (of 6 years ago)will make the market go up...

[Red Zelda]

7. Oh great

...I'm rich now. (Sound of insane, sarcastic laughter)

[Quixote1818]

8. The stock market is barley up to where it was when Clinton left office

Thats a pathetic performance. In real numbers it's current level is 20% below where it was six years ago.

[originalpckelly]

9. I'll finish that sentence:

Hastert: Stock market rally proof GOP economic policies of tax relief work (for rich people)

[spanone]

10. Funny, they don't take responsibility when it dips, now do they?

[BelgianMadCow]

11. "Fart indicative of future prevailing wind"

no, make that "I fart in his general direction".