The slide in the stock market continues, with the Dow closing sub 7000 for the first time since 1997. This brings the Dow down by 20% in the last 2 months, not good news for the economy. The market has lost half of its value in the last 16 months and is expected to take years to fully recover.
This is not good news for the Obama budget since it relies on growth in the economy by next year.