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December 2, 2008
Posted: 03:14 PM ET
FROM CNN’s Jack Cafferty: The Republican Party has long been the party of small government and free markets backed by big business. But that may be changing. Incoming Democratic President Barack Obama is bringing in some big guns to oversee economic policy and has talked about a second stimulus package and a bailout of the auto companies as top priorities next month. And big corporations like what they’re hearing. So much so that Peter Canellos, The Boston Globe’s Washington Bureau Chief, suggests “big business” is shifting its loyalty to the Democratic Party. Watch: Cafferty: Dems & big business? The writing’s been on the wall for quite some time. The Democrats out-raised Republicans in the 2008 elections. The financial sector alone donated more money to the Democrats, $65 million compared to the $59 million it gave Republicans. Big banks have long been supporters of the GOP. So why the shift? Canellos points to the Southern evangelicals who he says have dominated the Republican Party and in the process driven away some very big contributors. Corporate executives who have big bucks but different beliefs have begun to migrate to the Democratic Party despite the threat of higher taxes. And because many Republicans opposed the $700 billion bailout package passed in October as well as a rescue plan for the automakers, it looks like the GOP isn’t going to win “big business” back anytime soon. Here’s my question to you: What does it mean that the Democratic Party is becoming the party of Big Business? Interested to know which ones made it on air?
Randy from Salt Lake City, Utah writes: Jackie from Dallas, Texas writes: Gip from Florida writes: Brian from Trinidad writes: Richie from Wisconsin writes: Filed under: Democrats
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