Wednesday, October 13, 2004

Wall Street Re-evaluates its GOP Leanings

Wall Street appears to be shifting their allegiances from Republican to Democratic this election cycle. Normally staunchly Republican, Wall Street appears to be evenly divided between the two parties in donating money this year. According to MSNBC's Ronald Jones, 52% of those funds have gone to Republicans and 48% to the Democrats. How has Bush squandered the Republican's usual stronghold support of the world's financial capital? Reasons given for this shift is that the Democratic party is not the same as it was 20 years ago. No longer is it seen as a tax and spend party that it used to be. Additionally, “There are businesses that believe the foreign policy pursued by the Bush Administration has made it harder for them to do business overseas, and some think the ballooning deficit has been a disaster and they are taking a new look at the Democratic Party.”

Apparently Bush's self title of being "conservative" doesn't include "fiscally."

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