The Bush Administration’s pro-business ruse

anti-business.jpgEarlier posts here, here, and here — among others — question the conventional wisdom that the Bush Administration is particularly pro-business in its orientation.
Consistent with that theme, Larry Ribstein notes that the Bush Administration’s stance on Sarbanes-Oxley has reflected an appalling lack of leadership in regard to business issues:

The Democrats’ position on [modification of] SOX doesn’t go far enough, but at least it goes somewhere. It’s not that I’m ready to conclude that the Democrats can be trusted as the party of business. But somebody has to defend business’s interest, and on the critical issues concerning SOX, it hasn’t so far been the Republicans.

Professor Ribstein follows up that post with this one that summarizes his presentation to the American Enterprise Institute on Sarbanes-Oxley.
Meanwhile, Professor Ribstein’s skepticism of the Bush Administration’s true orientation toward business is mirrored in Bruce Bartlett’s new book on Bush Administration fiscal policy, Impostor: How George W. Bush Bankrupted America and Betrayed the Reagan Legacy (Doubleday 2006), which Publisher’s Weekly describes as follows:

Bartlett’s attack boils down to one key premise: Bush is a shallow opportunist who has cast aside the principles of the “Reagan Revolution” for short-term political gains that may wind up hurting the American economy as badly as, if not worse than, Nixon’s did. As part of a simple, point-by-point critique of Bush’s “finger-in-the-wind” approach to economic leadership, Bartlett singles out the Medicare prescription drug bill of 2003ó “the worst piece of legislation ever enacted”óas a particularly egregious example of the increases in government spending that will, he says, make tax hikes inevitable. Bush has further weakened the Republican Party by failing to establish a successor who can run in the next election, Bartlett says. If the Reaganites want to restore the party’s tradition of fiscal conservatism and small government, he worries, let alone keep the Democrats out of the White House, they will have their work cut out for them.

Interestingly, the Bush Administration does not appear particularly enthusiastic to challenge Bartlett on this thesis.

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