I know that lots of critics accuse President Obama of being anti-big business. Some go so far as to suggest he’s borderline socialist….I fully understand all the criticism. But here’s my question: If President Obama’s policies have been so anti-big business, why has Wall Street done so well since he took office?
On January 20, 2009, when he was sworn in, the Dow Jones closed at 7,949. Now, it hovers around 12,000….In the past year, the value of the U.S. dollar has gone up as well…Finally, so many major American corporations are raking in record profits and sitting on trillions of dollars.
In short, big business is doing well even though the overall economy is still sluggish and unemployment is still way too high. And those latter factors are key to his re-election prospects – not the state of big business.
– Wolf Blitzer, in today’s blog post for his Situation Room piece
Pro-regulation, pro-egalitarian wealth distribution, not anti-business. That’s the same rhetorical nonsense that has people saying things like “pro-abortion”…I believe you’ll be hard pressed to find someone who is supportive of abortion. They’d probably tell you they support the right to choose. I also think you’d be hard pressed to find a truly anti-business anti-capitalist Marxist or socialist in public office.