Matthew Benjamin
http://www.bloomberg.com/apps/news?pid=20601070&sid=agsg69muiHWY&refer=homeThe $2 trillion of federal spending President Barack Obama proposed to stimulate the economy, stabilize housing markets, curb financial excesses and remake the health care system packs a political punch too.
By shifting the focus of government policy away from upper- income Americans and targeting the vast numbers who consider themselves middle-class, Obama’s proposals may yield dividends for the Democratic Party.
Just as Franklin Roosevelt used the New Deal to create a loyal voter base that endured for four decades, Obama’s approach to fixing the economy offers the president an opportunity to recast political allegiances among swing voters. It also unwinds the policies of Ronald Reagan by dramatically increasing the role that government plays in the lives of voters and companies.
“It’s clear that Obama benefits politically by targeting programs precisely at these voters,” said Bruce Buchanan, a presidential scholar at the University of Texas in Austin. “It all ties up into a little ball, and I can understand why Republicans are worried.”