Democrats: Obama More Business-Friendly Than You Think

November 6, 2008  

A lively discussion sprung up here yesterday about whether President-elect Barack Obama’s apparent business agenda would do more to help or hurt small businesses, with many expressing great concern that the costs to businesses will be devastating.

But some business groups and Democratic leaders say an Obama presidency is likely to be much more business-friendly and moderate than many business owners fear. They point to Mr. Obama’s current economic advisers, including former Federal Reserve Chairman Paul Volcker and billionaire investor Warren Buffett, who are seen as moderates with deep understanding of the business world.

My colleague Elizabeth Williamson writes today that first to get pushed forward by the Obama administration are likely to be broad economic-stimulus initiatives, such as alternative-energy incentives and relief for homeowners facing bankruptcy. A slew of regulatory initiatives talked about on the campaign trail – such as reducing greenhouse gases – will take a back seat for now, Democratic insiders say.

Very worrisome to some business groups, such as the National Association of Manufacturers, is Sen. Obama’s apparent support of a bill that makes it much easier for workers to unionize. But that’s unlikely to be a top priority.

Do you agree that Obama will end up being a more business-friendly president than many assume?