Tags: cramer | obama | panic

Jim Cramer: Obama Created an Atmosphere Of Panic

Thursday, 05 Mar 2009 04:52 PM

By David A. Patten

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CNBC “Mad Money” host Jim Cramer says if he’s on the administration’s enemies list he’s in good company because President Obama’s agenda “is crushing nest eggs around the country.”

Cramer, who says he used to make “six figure” donations to Democrats before his media contract prohibited it, described talk host Rush Limbaugh as “a genius of the medium.”

On Wednesday, Limbaugh said he and Cramer were on the White House enemies list, and predicted the administration “was going to shut Cramer up pretty soon, too, but he’ll go down with a fight.”

Limbaugh, Cramer says, was “dead right.”

“I was on my hackles when I heard White House Press Secretary Robert Gibbs’ answer to a question about my pointed criticism of the president,” Cramer wrote in a column posted Thursday on Mainstreet.com.

Cramer has been a strong critic of Obama’s, suggesting his budgetary problems have been destroying wealth by hurting the stock market.

On Wednesday, Gibbs said: “I’m not entirely sure what he’s pointing to, to make some of the statements. 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.”

Cramer’s response to the blatant slam on Thursday: “Obama has undeniably made things worse by creating an atmosphere of fear and panic rather than an atmosphere of calm and hope.”

Cramer said he personally agrees with Obama’s agenda, but says that in the current economic circumstances it is “radical,” and should be put on hold until the business climate improves.

“If that makes me an enemy of the White House,” Cramer wrote, “then call me a general of an army that Obama may not even know exists -- tens of millions of people who live in fear of having no money saved when they need it and who get poorer by the day.”

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