With all the recent talk of doom from Democrats and the White House about the negative impact of the “sequester” cuts, the Dow Jones Industrial Average (DJI) decides it’s going to favor Republicans.
To be clear, President Obama and Democrats are correct. The sequester cuts are stupid and will have a detrimental effect on the economy this year. But we know this is what many Republicans wanted all along. Of course they paid lip service to the idea that we should put together a better, smarter spending cuts package, but Republicans are going to do whatever it takes to get spending cuts while a Democrat is in office. They know there is zero chance a Republican president will be prudent on spending. So why not sack the liberal Kenyan socialist with spending cuts that might just hurt the economic recovery? Maybe it will help sell the idea of a Republican president in 2016.
Today the Dow Jones only helped the Republican cause. After all of the talk of what the sequester could do to the economy, the DJI went ahead and hit an all-time record. High fives all around for Republicans.
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