Wednesday, October 24, 2012

The 80% Solution
If Mr. Obama comprehends how bad it is for Iran that its currency has shed 80% of its value, why doesn’t he comprehend that about a dollar that has lost 50% of its value under his presidency alone?
Mr. Romney keeps saying that on the first day of his administration he’s going to label the Communist Chinese regime a “currency manipulator.” The Wall Street Journal’s editorial page responds that “biggest ‘currency manipulator’ in the world today is the U.S. Federal Reserve.” The president is boasting that his policies have destroyed the Iranians’ currency even worse than he, the Fed, and the Congress have destroyed our own. The Iranian currency is down 80%, the value of our own is but half of what it was four years ago. American working men and women, and millions who can’t find work, are going to buy gas and groceries and coming home with empty wallets.

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