The Dow Jones industrial average increased by 29.5% in the one-year period following Barack Obama’s inauguration on Jan. 20, 2009—the third best showing, going back 110 years, for the U.S. stock market in the 12 months following the inauguration of a new President. Franklin Delano Roosevelt’s first year, which began on March 4, 1933, tops the list with the Dow increasing by 96.5% over the next 12 months. Meanwhile, Jimmy Carter trails his peers with a loss of 19.6%. On average, Presidents in the Democrat party saw an average one-year gain of 24%, while Republicans averaged 1%.
The America I know is generous and compassionate; a land of opportunity and optimism. We take responsibility for ourselves and each other; for the country we want and the future we share. We are the nation that built a railroad across a continent and brought light to communities shrouded in darkness. We sent a generation to college on the GI bill and saved millions of seniors from poverty with Social Security and Medicare. We have led the world in scientific research and technological breakthroughs that have transformed millions of lives.
We now have over half a million military personnel serving on more than 737 military bases all over the world. These bases are on more than 130 countries. According to the late military scholar, Chalmers Johnson, these bases facilitate the “policing” of the globe and are meant to ensure that no other nation, friendly or hostile, can ever challenge us militarily. He predicts that military spending will “sooner or later…threaten our nation with bankruptcy.” Many would argue that a strong military is necessary because it is a deterrent to potential adversaries. Really? Then explain to me why our tax-payer-funded military bases include a ski center, over 200 military golf courses, dozens of luxury jets, and many luxury hotels. Conservatives like to compare government (public) workers (such as military personnel and Wisconsin teachers) with private workers, insisting, for instance, that Wisconsin teacher, police, and firefighters’ pensions and wages are too generous compared to what private workers are paid (to justify why unions should be crushed). So I am sure they will not want to make the argument that military personnel should have private golf courses and other superfluous luxuries that those in the private sector do not enjoy.
Infrastructure spending was only 7.5% of the 2009 stimulus. Yet one dollar invested in infrastructure has a return of $1.59 in GDP growth, while most tax cuts don’t even return 50 cents.