There’s a lot of talk about how Republicans need to re-brand themselves on social issues. I’m not convinced that’s more important for the GOP than shedding its image of being too closely aligned with Big Business.
There are three key ways in which Republicans lost credibility since 2000. One, as Peggy Noonan argued recently, was the 2003 Iraq invasion. Another was the increase in federal spending that took place during George W. Bush’s presidency; spending accelerated toward the end, when Democrats were in control of Congress, but it was rising too swiftly well before Nancy Pelosi became speaker of the House.
The third was the 2008 bailout of Wall Street. The party that supposedly champions free enterprise went along with using hundreds of billions of taxpayer dollars to save financial institutions that acted recklessly. Some Republicans argued then, and still argue now, that the alternative would have been worse. But the larger point is that the nexus of Big Business,