Rep. Gohmert: Murtha Caused Market Plunge

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"Rep. Gohmert: Murtha Caused Market Plunge"

Today on the House floor, Rep. Louie Gohmert (R-TX) blamed yesterday’s market drop — the largest since the September 11 terrorist attacks — on members of Congress supposedly “talking about…more regulation” and “undermin[ing] the President’s national security policy.”

Gohmert said, “In two months of talking about raising taxes and more regulation and [referring to Murtha] one committee chairman talking about how he’s going to undermine the President’s national security policy — two months! — we have this terrible damage to the stock market, to the economy. Unbelievable.” He added: “I just encourage my friends across the aisle, be careful. We built a great economy. Don’t blow it quite so quickly.”

Watch it:

[flv http://video.thinkprogress.org/2007/02/txmark.320.240.flv]

Gohmert is out to lunch. Analysts say that yesterday’s market drop was due in varying degrees to China’s market meltdown on Monday, Alan Greenspan’s recession remarks this week, and rising oil prices.

UPDATE: Fox News uses the stock plummet to call for more you-know-whats:

taxcuts.jpg

Transcript:

GOHMERT: You know, over the last 12 years, the Democrats have been in the minority, Republicans have been in the majority. The economy boomed in the late-90’s. We had this tragic event on 9/11. It should have sent this country in a terrible depression, but this Congress, Republican majority, pushed through tax cuts that has allowed the economy to rebound and be robust and provide jobs and better standard of living. And in two months of talking about raising taxes and more regulation and we are not — one committee chairman talking about how he’s going to undermine the President’s national security policy — two months! — we have this terrible damage to the stock market, to the economy. Unbelievable. They were saying last night on the news that this is the biggest drop since 9/11. In two months of talking about all these new plans, we are going to cost people jobs. I just encourage my friends across the aisle, be careful. We built a great economy. Don’t blow it quite so quickly. I yield back.

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