Market Bull: WSJ's Moore Ties Stock Market Fall To Obama Deficit Reduction Plan
Blog ››› ››› ANDY NEWBOLD
The Wall Street Journal's Steve Moore appeared on Happening Now to discuss his opinion on the outlook for the U.S. economy. He attacked the Obama administration as "anti-business," and claimed that the market "really started to fall" around "a week and a half ago" because Obama called for tax increases that show "Washington is working against [businesses] right now."
However, the claim that the markets "really started to fall" about "a week and a half ago" is totally divorced from reality. The stock markets actually began to plummet in July and August. Experts at the time said the plunge was due to weakening economic data.
But if someone wanted to play Moore's game, the plunge occurred at the same time that tea party members and their right-wing media allies (including Moore) threatened to plunge this nation into default to advance their ideological agenda.