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The Stock Market Under Obama

As of yesterday, with a closing mark of 9,539.29, the Dow Jones Industrial Average was up:

  • 20.0 percent since Barack Obama's inauguration (7,949.09 on 20 January)
  • 26.3 percent since the signing of the American Recovery and Reinvestment Act of 2009 (7,552.60 on 17 February)
  • 45.7 percent since the market's low point this year (6547.05 on 9 March)
Now, compare that to the eight years of the Bush administration. From 19 January 2001 to 20 January 2009, the Dow Jones fell 29.0 percent, from 10,686.00 to 8,279.63.

In case you're curious, by my calculations, the Dow Jones rose 228.2 percent during the eight years of the Clinton administration; rose 45.4 percent during the four years of the first Bush administration; and rose 130.6 percent during the eight years of the Reagan administration.

Am I suggesting that presidents be judged by the performance of the stock market during their terms? No. But I do wonder how it is that Democrats are still seen by many as bad for business. At least one important type of empirical evidence would suggest otherwise.

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