Tuesday, January 20, 2009

Market gives skeptical response so far to Obama

The stock market is down 150 points in early trading as oil continues it rise back to $40 a barrel.

This response so far to President Obama is correct. His plans will not make an impact in the economy until mid-summer. And the stimulus plan and the remainder of the TARP will probably be ineffective at best.

Until then, state budget cuts will reduce services and raise taxes and layoffs will mushroom. Soak up all the hope today, because tomorrow we return to reality.

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