Lobbying Profits Stall Under Divided Government

Worth Clicking: Blasts from the past wound Romney

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April 21, 2011

Lobbying Profits Stall Under Divided Government

The Hill reports that lobbying firms' financial disclosures for the first quarter of 2011 reveal that "most firms' earnings either flat-lined or fell off when compared to 2010's first quarter."

The reason? Unproductive government is bad for business. "President Obama and the new Republican House have spent more time battling over the budget than crafting the kind of mammoth bills that have a big impact on industry."

Loopholes: "K Street firms said regulatory work from the healthcare and Wall Street laws is beginning to dominate their days as clients grow concerned about how the measures are being implemented. Not all of that advocacy work has to be reported under the LDA law, since it often involves legal work that is exempt from disclosure."

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Taegan D. Goddard is the founder of Political Wire, one of the earliest and most influential political web sites.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country, including the Washington Post, USA Today, Boston Globe, San Francisco Chronicle, Chicago Tribune, Philadelphia Inquirer and Christian Science Monitor.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

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April 21, 2011