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Money

Dow Hits Record High, Pat Robertson Claims Obama is Destroying Businesses (Video)

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The Dow Jones Industrial Average hit an all-time high today at 16,580.84, breaking its previous record high of 16,576.66 on Dec. 31, 2013.

"The ADP report was more or less in line, but shows there was job creation in the month [220,000 workers in April], and according to ADP it was the first back-to-back months of 200,000 jobs created since 2012, so that's a positive," Dan Greenhaus, chief global strategist at BTIG, told NBCNews.com.

While this record-setting news was praised by Wall Street, televangelist Pat Robertson claimed today on his 700 Club broadcast that “termites” in the Obama administration were purposely destroying the American economy, noted RightWingWatch.org (video below).

Without citing any actual proof, Robertson claimed that China may become the world's biggest economy because of “a deliberate attempt of the Obama administration and their allies to limit the growth of small business, limit the growth of major corporations, to put sand in the gear of all kinds of things.”

In reality, U.S. corporations have had record profits under the Obama administration, twice of what they made under President Reagan, reported The Huffington Post.

Robertson then attacked the Dodd-Frank law which requires more transparency in the trading of derivatives and created a new consumer protection agency to help investors not get defrauded as they did in 2008.

Robertson also complained about "hundreds" of other government regulations, of which he did not name one.

“Something has got to be done, we have to get free of these people because it’s like a mass of termites that is eating away at the structure of this great edifice we call the United States of America and they’re burrowing in and they’re getting paid to destroy us,” stated Robertson.

Sources: NBCNews.com, RightWingWatch.org, The Huffington Post

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