Where Is The Stock Market Rally?

Today is the eighth straight day the market is down. No rally yesterday after the vote in the House. No rally today after the vote in the Senate.

Does the Market know something Washington doesn't?

Maybe they see this as a victory for the Tea Party but a loss for America. I do.

This deal, with its reduction in government spending, will be a drag on the economy. The consequences:

1. More jobs lost;
2. Reduction in the Gross Domestic Product (GDP);
3. More deterioration in the nation's roads, highways, bridges, railroads, harbors and other infrastructure (the quality of our infrastructure now ranks 23rd in the world);
4. Reduction in basic research;
5. Reduction in education;
6. Reduced ability to compete with the rest of the world;
7. More wealth diverted to the wealthy and powerful;
8. More blame to the blameless,
9. Reductions in Medicare and Social Security.

The Tea Party has now killed their half of the dog.

Cutting government expenditures in an economic downturn really worked out for Herbert Hoover in 1929, didn't it? Just remember - it was the Tea party this time.