The Republican Party, known since the late 19th century as the party of business, is losing its lock on that title.
New evidence suggests a potentially historic shift in the Republican Party's identity -- what strategists call its "brand." The votes of many fiscal conservatives and other lapsed Republicans are now up for grabs, which could alter U.S. politics in the 2008 elections and beyond.
Some business leaders are drifting away from the party because of the war in Iraq, the growing federal debt and a conservative social agenda they don't share. In manufacturing sectors such as the auto industry, some Republicans want direct government help with soaring health-care costs, which Republicans in Washington have been reluctant to provide. And some business people want more government action on global warming, arguing that a bolder plan is not only inevitable, but could spur new industries.
The most prominent sign of dissatisfaction has come from former Federal Reserve Chairman Alan Greenspan, long a pillar of Republican Party economic thinking. He blasted the party's fiscal record in a new book. In an interview with The Wall Street Journal, he said: "The Republican Party, which ruled the House, the Senate and the presidency, I no longer recognize."
Some well-known business leaders have openly changed allegiances. Morgan Stanley Chairman and Chief Executive John Mack, formerly a big Bush backer, now supports Democratic front-runner Sen. Hillary Clinton of New York. John Canning Jr., chairman and chief executive of Madison Dearborn Partners, a large private-equity firm, now donates to Democrats after a lifetime as a Republican. Recently, he told one Democratic Party leader: "The Republican Party left me" -- a twist on a line Ronald Reagan and his followers used when they abandoned the Democratic Party decades ago to protest its '60s and '70s-era liberalism.
Richard Clinch, a 69-year-old New York native, illustrates the party's plight. The retired Westinghouse manager and mechanical engineer says he has been "a lifelong Republican." As a young fiscal conservative, he was attracted by the party's reputation for frugal and competent governance, he says. The Democratic Party left him cold, he says, because of its social spending and ties to the unions that exasperated him at work. As a retiree in Annapolis, Md., he became a local Republican officer.
Yet next year, for the first time since he began voting in 1960, Mr. Clinch won't support the Republican presidential nominee, he says. He only "very reluctantly" voted for Mr. Bush's re-election in 2004. "Like many Republicans, I am frustrated," he says. "We've lost control of spending," and the administration's execution of the Iraq war has been "incompetent." Mr. Clinch says he is liberal about rights for women and gays, and vexed that "we [Republicans] get sidetracked on these issues like gay marriage."
"You see it in the lack of donor support" for Republican presidential candidates, says longtime strategist John Weaver. As former top adviser to presidential candidate and Arizona Sen. John McCain, Mr. Weaver recalls hearing Republican businesspeople grouse about the party's focus on moral issues and Iraq.
Overall, Democratic presidential candidates have raised more than $200 million this year, about 70% more than their Republican rivals.
New evidence suggests a potentially historic shift in the Republican Party's identity -- what strategists call its "brand." The votes of many fiscal conservatives and other lapsed Republicans are now up for grabs, which could alter U.S. politics in the 2008 elections and beyond.
Some business leaders are drifting away from the party because of the war in Iraq, the growing federal debt and a conservative social agenda they don't share. In manufacturing sectors such as the auto industry, some Republicans want direct government help with soaring health-care costs, which Republicans in Washington have been reluctant to provide. And some business people want more government action on global warming, arguing that a bolder plan is not only inevitable, but could spur new industries.
The most prominent sign of dissatisfaction has come from former Federal Reserve Chairman Alan Greenspan, long a pillar of Republican Party economic thinking. He blasted the party's fiscal record in a new book. In an interview with The Wall Street Journal, he said: "The Republican Party, which ruled the House, the Senate and the presidency, I no longer recognize."
Some well-known business leaders have openly changed allegiances. Morgan Stanley Chairman and Chief Executive John Mack, formerly a big Bush backer, now supports Democratic front-runner Sen. Hillary Clinton of New York. John Canning Jr., chairman and chief executive of Madison Dearborn Partners, a large private-equity firm, now donates to Democrats after a lifetime as a Republican. Recently, he told one Democratic Party leader: "The Republican Party left me" -- a twist on a line Ronald Reagan and his followers used when they abandoned the Democratic Party decades ago to protest its '60s and '70s-era liberalism.
Richard Clinch, a 69-year-old New York native, illustrates the party's plight. The retired Westinghouse manager and mechanical engineer says he has been "a lifelong Republican." As a young fiscal conservative, he was attracted by the party's reputation for frugal and competent governance, he says. The Democratic Party left him cold, he says, because of its social spending and ties to the unions that exasperated him at work. As a retiree in Annapolis, Md., he became a local Republican officer.
Yet next year, for the first time since he began voting in 1960, Mr. Clinch won't support the Republican presidential nominee, he says. He only "very reluctantly" voted for Mr. Bush's re-election in 2004. "Like many Republicans, I am frustrated," he says. "We've lost control of spending," and the administration's execution of the Iraq war has been "incompetent." Mr. Clinch says he is liberal about rights for women and gays, and vexed that "we [Republicans] get sidetracked on these issues like gay marriage."
"You see it in the lack of donor support" for Republican presidential candidates, says longtime strategist John Weaver. As former top adviser to presidential candidate and Arizona Sen. John McCain, Mr. Weaver recalls hearing Republican businesspeople grouse about the party's focus on moral issues and Iraq.
Overall, Democratic presidential candidates have raised more than $200 million this year, about 70% more than their Republican rivals.
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