"Perino claims Bush was responsible for last week’s stock market climb."
Since he was elected, conservatives have been faulting Barack Obama for the collapse in the stock market. But last week, the market posted gains for four straight days. According to former White House Press Secretary Dana Perino, the man most responsible for the stock market’s climb last week was…President Bush. HuffPost’s Sam Stein notes that, on C-Span yesterday morning, Perino offered this explanation:
“You were just speaking earlier about the possibility that since we had a little bit of a better week on Wall Street does that spell a turnaround?” Perino said. “Can all the credit go specifically to President Obama? Well, I would say no. We are just going to have to take a while to let all of this settle down and let the policies that our administration and the new administration are trying to put in place have a chance to work.”
Steve Benen responds, “Putting aside whether watching Wall Street is a useful guide to measuring the strength of economic policies — it clearly isn’t — the point to remember is that positive developments are evidence of Republican wisdom, and negative developments are evidence of Democratic failure.”