When Barack Obama signed his massive boondoggle of a stimulus bill Tuesday, there were smiles all around and enthusiastic applause. And Saturday's newspaper featured a photo of a joyous Nancy Pelosi and a positively ecstatic Charles Rangel. Yes, the Democrats are really proud of themselves.
Doesn't seem like investors are quite as optimistic about them, though -- the stock market closed at a six-year low yesterday. And it will be interesting to see how many Americans are applauding Obama and his party six months from now. I have a feeling it will be far from a standing ovation.
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