Shaking Off Old Labels « The Washington Independent
Democratic presidential candidate Sen. Barack Obama’s economic plan drew lots of coverage – and criticism – yesterday. Should he wind up the nominee against Republican frontrunner John McCain, expect Republicans to drag out the usual “tax and spend liberal” label that they regularly reserve for any Democrat.
But if you’re interested in further exploring Obama’s economic thinking, check out this Business Week piece. Many of the advisors Obama surrounds himself with have business consulting backgrounds and are more likely to push for “iPod government” than overreaching federal programs. His phone pals include billionaire Warren Buffett and former Federal Reserve Chairman Paul Volcker. He’s likely to give business a seat at the table, as one consultant put it, but business won’t be permitted to buy all the chairs.
Still, the fact that Business Week’s headline had to ask “Is Obama Good for Business?” lets you know that any Democratic candidate is going to face a fair amount of skepticism about fiscal responsibility from the economic establishment, even after eight years of ballooning budget deficits and out of control government spending under the guidance of the other party.