John Hindraker has a
good outline of cronyism during the Obama Administration. Although cronyism certainly is not exclusive to Obama or Democrats, Hindraker argues that the current situation in the U.S. is different:
What we have seen more recently, especially in the Obama
administration, is something much more sinister — private sector, or
corporate, cronyism — where the government uses its power to tax and
spend, and its power to regulate, to help some companies and industries,
making them artificially more profitable or keeping them in business,
while using the same powers to disadvantage and potentially destroy
other companies and industries that are not allied with the White House
or with Congress.
Does being an Obama crony pay off? This graphic from Peter
Schweizer’s book sums it up as well as anything: the members of Obama’s
national finance committee have already recouped an average of around
$25,000 in federal dollars for their companies, for every dollar they
raised for Obama’s campaign. Is that a good investment, or what?
