Changes

== Dispute with the White House ==

== Dispute with the White House ==

On March 2, 2009, Jim Cramer drew the attention of some critics after his evaluation of [[Barack Obama|President Obama’s]] spending plans and the [[Obama Administration|administration’s]] handling of the banking crisis.<ref>[https://www.cnbc.com/id/28916751 Stop Trading!: Cramer Hearts Rush Limbaugh?], CNBC's ''Stop Trading!'', Jan. 29, 2009.</ref> Cramer’s name came up the following day, on March 3, during a [[White House]] press briefing after Cramer said that Obama was responsible for "the greatest wealth destruction I have seen by a president."<ref>{{cite news |title=Cramer to White House: Wealth Destruction Is Real |url=https://www.cnbc.com/id/29490969/ |publisher=CNBC}}, March 3, 2009</ref><ref>Rush Limbaugh. [http://www.rushlimbaugh.com/home/daily/site_031909/content/01125116.guest.html Jim Cramer Held Hostage], RushLimbaugh.com, March 19, 2009.</ref> An offended White House shot back. When questioned by [[NBC|NBC's]] Tom Costello, Press Secretary [[Robert Gibbs]] said this:  

On March 2, 2009, Jim Cramer drew the attention of some critics after his evaluation of [[Barack Obama|President Obama's]] spending plans and the [[Obama Administration|administration's]] handling of the banking crisis.<ref>[https://www.cnbc.com/id/28916751 Stop Trading!: Cramer Hearts Rush Limbaugh?], CNBC's ''Stop Trading!'', Jan. 29, 2009.</ref> Cramer's name came up the following day, on March 3, during a [[White House]] press briefing after Cramer said that Obama was responsible for "the greatest wealth destruction I have seen by a president."<ref>{{cite news |title=Cramer to White House: Wealth Destruction Is Real |url=https://www.cnbc.com/id/29490969/ |publisher=CNBC}}, March 3, 2009</ref><ref>Rush Limbaugh. [http://www.rushlimbaugh.com/home/daily/site_031909/content/01125116.guest.html Jim Cramer Held Hostage], RushLimbaugh.com, March 19, 2009.</ref> An offended White House shot back. When questioned by [[NBC|NBC's]] Tom Costello, Press Secretary [[Robert Gibbs]] said this:  

{{Cquote|I'm not entirely sure what he's pointing to make some of the statements. If you turn on a certain program it's geared to a very small audience [...] And you can go back and look at any number of statements he's made in the past about the economy and wonder where some of the backup for those are, too.<ref>{{cite news |title=White House Knocks Jim Cramer For Calling Obama Budget "Greatest Wealth Destruction By a President" |url=http://www.mediabistro.com/tvnewser/cnbc/white_house_knocks_jim_cramer_for_calling_obama_budget_greatest_wealth_destruction_by_a_president_110203.asp |publisher=CNBC}} March 3, 2009</ref>}}

{{Cquote|I'm not entirely sure what he's pointing to make some of the statements. If you turn on a certain program it's geared to a very small audience [...] And you can go back and look at any number of statements he's made in the past about the economy and wonder where some of the backup for those are, too.<ref>{{cite news |title=White House Knocks Jim Cramer For Calling Obama Budget "Greatest Wealth Destruction By a President" |url=http://www.mediabistro.com/tvnewser/cnbc/white_house_knocks_jim_cramer_for_calling_obama_budget_greatest_wealth_destruction_by_a_president_110203.asp |publisher=CNBC}} March 3, 2009</ref>}}

=== Obama Accountability Index ===

=== Obama Accountability Index ===

The day after [[Barack Obama]] was sworn in, on January 21, 2009, on his [[television]] show ''Mad Money'', Jim Cramer created a stock index to track the new president's progress. Cramer chose companies that operated in the very sectors that needed the most help, and he suggested their performance would tell [[Americans]] how effective Obama had been and whether or not his plans to save the economy had worked. Solely based on the performance of the [[stock market]], Cramer created the Obama Accountability Index (OAI).<ref>[https://www.cnbc.com/id/28753120 Cramer's 'State of the Market' Address], CNBC's ''Mad Money'', Jan. 21, 2009.</ref> The OAI consisted of six stocks: Bank of America (BAC), Citigroup (C), Caterpillar (CAT), [[General Electric]] (GE), [[General Motors]] (GM) and JPMorgan chase (JPM). It’s an equal-weighted index that starts at 100, using closing prices on the day the index was created as a baseline. Cramer said, "This index will grade Obama’s success as president. If he fails, so does the stock market."<ref>[http://www.1-in-100-blogger.com/2009/02/obama-lied-our-economy-died.html Obama Lied, Our Economy Died], A 1-In-100 Blogger, February 2009.</ref>  

The day after [[Barack Obama]] was sworn in, on January 21, 2009, on his [[television]] show ''Mad Money'', Jim Cramer created a stock index to track the new president's progress. Cramer chose companies that operated in the very sectors that needed the most help, and he suggested their performance would tell [[Americans]] how effective Obama had been and whether or not his plans to save the economy had worked. Solely based on the performance of the [[stock market]], Cramer created the Obama Accountability Index (OAI).<ref>[https://www.cnbc.com/id/28753120 Cramer's 'State of the Market' Address], CNBC's ''Mad Money'', Jan. 21, 2009.</ref> The OAI consisted of six stocks: Bank of America (BAC), Citigroup (C), Caterpillar (CAT), [[General Electric]] (GE), [[General Motors]] (GM) and JPMorgan chase (JPM). It's an equal-weighted index that starts at 100, using closing prices on the day the index was created as a baseline. Cramer said, "This index will grade Obama’s success as president. If he fails, so does the stock market."<ref>[http://www.1-in-100-blogger.com/2009/02/obama-lied-our-economy-died.html Obama Lied, Our Economy Died], A 1-In-100 Blogger, February 2009.</ref>  

On February 20, 2009, Jim Cramer graded the president's ability to rejuvenate the economy, based on the ''Obama Accountability Index''. Reviewing Obama's 30-Day Report Card, Cramer said, "Well, the index is down 35% since January 21, the day it was created. The S&P 500 over that same period has declined just 8%."<ref>[https://www.cnbc.com/id/29308202/ Obama's 30-Day Report Card], CNBC, Feb. 20, 2009.</ref> So Obama, at least according to Cramer’s portfolio, wasn't doing too well.<ref>Jim Cramer. [http://www.madmoneyrecap.com/madmoney_nightlyrecap_022009_3.htm Opening Segment #3: 'Make The Grade'], February 20, 2009.</ref>

On February 20, 2009, Jim Cramer graded the president's ability to rejuvenate the economy, based on the ''Obama Accountability Index''. Reviewing Obama's 30-Day Report Card, Cramer said, "Well, the index is down 35% since January 21, the day it was created. The S&P 500 over that same period has declined just 8%."<ref>[https://www.cnbc.com/id/29308202/ Obama's 30-Day Report Card], CNBC, Feb. 20, 2009.</ref> So Obama, at least according to Cramer's portfolio, wasn't doing too well.<ref>Jim Cramer. [http://www.madmoneyrecap.com/madmoney_nightlyrecap_022009_3.htm Opening Segment #3: 'Make The Grade'], February 20, 2009.</ref>

On July 8, 2009, Jim Cramer on ''Mad Money'' again graded the performance of Obama's administration and economic policies against the performance of the stock market. He commented, "The same force that so hurt the markets this [[winter]] has yet again reared its ugly head: the [[White House|White House’s]] anti-business rhetoric. [...] Investors don’t seem to trust President Obama to create jobs and stimulate the economy, not when he prioritizes [[global warming|climate change]] and [[ObamaCare|health care]]." Moreover, the ''Mad Money Obama Accountability Index'' score had dropped to 96.1 from its starting point of 100.<ref>[https://www.cnbc.com/id/31802202/site/14081545 Cramer: Obama Hurting the Economy], CNBC, July 8, 2009.</ref> He urged Obama to postpone his agenda in favor of boosting the economy. "Without more job creation," Cramer said, "the president’s agenda and his tone will continue to slowly and inexorably squeeze the life out of this stock market."<ref>Rush Limbaugh. [http://www.rushlimbaugh.com/home/daily/site_031009/content/01125108.guest.html The Founders Wanted Presidents to Fail If They Deserved To Fail], RushLimbaugh.com, March 10, 2009.</ref>

On July 8, 2009, Jim Cramer on ''Mad Money'' again graded the performance of Obama's administration and economic policies against the performance of the stock market. He commented, "The same force that so hurt the markets this [[winter]] has yet again reared its ugly head: the [[White House|White House’s]] anti-business rhetoric. [...] Investors don’t seem to trust President Obama to create jobs and stimulate the economy, not when he prioritizes [[global warming|climate change]] and [[ObamaCare|health care]]." Moreover, the ''Mad Money Obama Accountability Index'' score had dropped to 96.1 from its starting point of 100.<ref>[https://www.cnbc.com/id/31802202/site/14081545 Cramer: Obama Hurting the Economy], CNBC, July 8, 2009.</ref> He urged Obama to postpone his agenda in favor of boosting the economy. "Without more job creation," Cramer said, "the president’s agenda and his tone will continue to slowly and inexorably squeeze the life out of this stock market."<ref>Rush Limbaugh. [http://www.rushlimbaugh.com/home/daily/site_031009/content/01125108.guest.html The Founders Wanted Presidents to Fail If They Deserved To Fail], RushLimbaugh.com, March 10, 2009.</ref>