At the National Journal, Josh Kraushaar reports that the Obama campaign’s Bain Capital attack exposed the waning power of centrist Democrats in the party, a development that has many Democrats concerned:
Conversations with liberal activists and labor officials reveal an unmistakable hostility toward the pro-business, free-trade, free-market philosophy that was in vogue during the second half of the Clinton administration. …
Moderate Democratic groups and officials, meanwhile, privately fret about the party’s leftward drift and the Obama campaign’s embrace of an aggressively populist message. They’re disappointed that the administration didn’t take the lead advancing the Simpson-Bowles deficit-reduction proposal, they wish the administration’s focus was on growth over fairness, and they are frustrated with the persistent congressional gridlock. Third Way, the centrist Democratic think tank, has been generating analyses underscoring the need for Democrats to appeal to middle-of-the-road voters, to no avail.
The problem is, Barack Obama is facing a compelling economic message from his opponent: Mitt Romney spent 25 years building businesses and overhauling companies in the private sector; Obama, in contrast, has spent his entire career in politics and community organizing. As Romney argued effectively in his interview with Time magazine today, there is nothing necessarily wrong with Obama’s career choices. They just don’t prepare someone to deal with an economy that’s speeding toward a fiscal cliff.
In response, Obama has embraced a populist, anti-competition, anti-capitalist message. Not only is it imprudent and unhelpful to stir up those sentiments during tough economic times, it’s also damaging to the Democratic Party’s brand. And it hasn’t been politically effective so far. Several polls today show the race is tightening, and Obama actually appears to be scaring away the working class voters who he’s been trying to win over with his class warfare message. The party that emerged so unified behind Obama in 2008 already seems to be coming undone.