Originally Posted by BKsBimmer
Yes the Dow is down today, but it's up over 60% over the last 4 years. If you're going to make Barack Obama responsible for todays temporary drop you have to also give him credit for the lasting surge. My 401K looks a helluva lot better today that it did 4 years ago, even with todays significant drop.
Of course I dont know what your 401K contains, but if I assume it matches, say, the mix represented in the Dow, then it may look a helluva lot better today than 4 years ago, but still not as good as it looked in 2007, when a Republican was at the wheel. Even if it looks as good as it did in 2007, you would have fallen behind due to inflation, but if it shadows the Dow and is lower than that height, then you are way behind where were were then in raw purchasing power.
Of course, this is where the short-memoried folks all chime in and say it's all Bush's fault, even tho Clinton put in place 2 key elements that precipitated the eventual housing crash (push for homeownership and repeal of Glass Steagal), and the other big smoking guns of spending (the wars in Afghanistan and Iraq), were all supported at the time by a variety of big-name Democrats who were happy to appear patriotic at the time and not vigorously oppose those actions, and yet today are happy to divorce themselves from those votes under the guise of being stewards of fiscal responsibility.