When discussing the president?s attitude about business, it?s important to note the distinction Roy Cordato has highlighted between ?anti-business? and ?anti-free market.?
So it?s possible to label President Obama ?pro-business? and still accuse him of taking steps that hurt consumers, entrepreneurs, and the economy as a whole.
Still, I?m not sure that?s what George Soros is trying to say in the last, somewhat puzzling sentence in this week Newsweek excerpt (which does not appear to have been posted online):
George Soros, the billionaire hedge-fund investor, says the magnitude of Obama?s shift has been exaggerated. ?Actually Obama has been very pro-business, and I think business has been very anti-Obama,? said Soros, one of the few Davos regulars who thinks the president was too soft on the financial-services industry. Soros argues that Obama?s failure to crack down more has actually been to his political detriment. ?He has awoken a very strong sentiment in the Tea Party because of his pro-business position,? Soros said.
Soros is undoubtedly correct ? whether he realizes it or not ? that Obama?s support for crony capitalism has ?awoken a very strong sentiment? among some Tea Party supporters, though I suspect most of them have been motivated more by concerns about massive overspending, regulatory overreach, and ObamaCare.
