During the campaign, it was the moving target on tax cuts. From $250k to 150K, Obama’s tax cuts were moved at various points during the campaign. He just slipped in another. Over the weekend, his stimulus plan was designed to create 2.5 mln new jobs, a measurable. Now, in front of the cameras, he says it is designed to create “and save” 2.5 mln jobs, an interesting distinction since there is no way to measure jobs saved…
He calls for a big stimulus plan to jolt the economy back to health, though he declines to put a price tag on it. He is now kicking the can on the timing of the tax hikes for the upper bracket. The market is giving back its earlier gains, about 150 points off earlier highs. The Dow is now up 200 points.