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      The Democratic Blind Spot That Wrecked 2024

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      The 2022 election went better than Democrats could have hoped. The party picked up governor’s mansions and state legislatures and expanded their Senate majority. It held down losses in the House. The promised “red wave” never crashed ashore. Perhaps it would have been better if it had.Looking back, the seeds of Democrats’ 2024 wipeout were planted in the quasi-victory of 2022. Three things happened in the aftermath. The pressure on President Biden not to run for re-election, and the possibility of a serious primary challenge if he did run, evaporated. Democrats persuaded themselves of a theory of the electorate that proved mistaken. And as a result, the Biden-Harris administration avoided the kind of hard, post-defeat pivot that both the Clinton and Obama administrations were forced to make after the midterm defeats of 1994 and 2010.In 2020, Democrats had worried over Biden’s age, but were comforted, in part, by the soft signals he sent that he would serve only one term. “Look, I view myself as a bridge, not as anything else,” he said in 2020. By mid-2022, as Biden signaled his intention to run again, the party was growing alarmed. In June of that year, The Times interviewed nearly 50 Democratic officials and found that among “nearly all the Democrats interviewed, the president’s age — 79 now, 82 by the time the winner of the 2024 election is inaugurated — is a deep concern about his political viability.”Nor was the public thrilled about the results the Biden administration was delivering. In October of 2022, amid widespread anger over inflation, the Times-Siena poll found Biden with a 38 percent job approval rating and trailing Trump in a hypothetical rematch.If Democrats had been wiped out in the midterms, the pressure on Biden to be the transitional figure he’d promised to be would have been immense. If he’d run again despite that pressure, he might have faced serious challengers. But Democrats fared far better than they had expected. The president’s saggy approval rating and the widespread anger at inflation were nowhere to be found in the election results. In their first referendum under Biden, Democrats did much better than they had under Clinton or Obama. Any pressure on Biden to step aside — and any possibility of a real primary challenge — ended.In its place, a new theory of the electorate emerged, based on the way Democrats over-performed in contested states, like Pennsylvania and Wisconsin, and underperformed in safe states, like New York and California. There were two coalitions: the MAGA coalition and the anti-MAGA coalition. The anti-MAGA coalition was bigger, but it needed to be activated by the threat of Donald Trump or the Dobbs abortion ruling. A slew of special election victories in 2023 seemed to confirm the theory. Democrats were winning elections they had no business winning, given Biden’s low approval rating and public anger over inflation. But the anti-MAGA coalition’s hatred of Trump had changed the electoral math.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Trump Is About to Face the Choice That Dooms Many Presidencies

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      As happens every time a new president is elected, Donald Trump is experiencing a sudden role reversal. His campaign to earn support from voters has ended abruptly and a new one has begun among donors and activists to earn his support for their priorities. The election was about tax cuts, or maybe cryptocurrency, the arguments go. What Americans really want, sir, is fewer protections on the job and a weaker safety net.This is the first moment when presidencies go wrong. Rather than prepare to govern on behalf of the electorate that put them in power — especially the independent swing voters who by definition provide the margin of victory in a two-party system — new presidents, themselves typically members of the donor and activist communities, convince themselves that their personal preferences are the people’s as well. Two years later, their political capital expended and their agendas in shambles, their parties often suffer crushing defeats in midterm elections.As he looks toward his new term, Mr. Trump could claim a mandate to lead however he wishes, huddle with his supporters at Mar-a-Lago and then see how much of their agenda he can advance before his popularity falls too far to effect further change. That is the formula that has left a nation seemingly resigned to the loss of both common purpose and institutional competence. It is not a formula for a successful presidency, let alone for making America great again.He has another option. He is an iconoclastic leader with a uniquely unfiltered relationship to the American people and a disdain for the chattering class of consultants. He is also the first president since Grover Cleveland to get a second shot at a first term. He has already experienced the bruising tax fight that helped bring his approval rating down to 36 percent a year after his inauguration, the failed attempt to repeal the Affordable Care Act and the loss of more than 40 House seats and control of the chamber in a midterm election. In the early hours of Wednesday morning, he made a promise to “every citizen” that he would “fight for you, for your family and your future” and that “this will truly be the golden age of America.” Achieving that will require focusing on the challenges and respecting the values broadly shared by not only his voters, but also many others who might come to support him.Take immigration. A promise to secure the border has long been a central aspect of Mr. Trump’s appeal, and Democrats are now clambering to get on his side of the issue. A Trump administration serving American voters would stanch the flow of migrants with tough border enforcement and asylum restrictions, reverse the Biden administration’s lawlessness by removing recent arrivals and protect American workers and businesses by mandating that employers use the E-Verify program to confirm the legal status of the people who work for them. That program, which strikes at the harm that illegal immigration does to American workers, is wildly popular. A recent survey of 2,000 adults conducted by my organization, American Compass, in partnership with YouGov, found 78 percent support overall and 68 percent support even among Democrats. Law-abiding businesses tend to like it, too — they’re tired of getting undercut by competitors that get away with breaking the rules.That’s the path to solving the problem. Mr. Trump will hear a lot of counterarguments from the affluent and influential class that builds its business model on underpaid, undocumented labor, especially in industries such as construction and hospitality, where he has personal experience, as well as in agriculture. Those voices are likely to suggest that instead he condescend to the masses with border theater and hostile rhetoric, while expanding temporary worker programs. To this end, Representative Thomas Massie of Kentucky, who opposes the E-Verify program on libertarian grounds, has already been mentioned as a potential candidate for secretary of agriculture. Moves like that will keep the guests at Mr. Trump’s golf clubs happy but ensure growing frustration and disillusion elsewhere.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Could the Bond Market Stymie Trump’s Economic Plans?

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      Some fiscal hawks worry that Trump’s policies would increase the deficit and fuel inflation.With Republicans poised to seize control of Congress, Donald Trump’s economic plans could face little legislative resistance. The president-elect has vowed to escalate tariffs, extend a corporate tax cut and introduce tax breaks on tips and Social Security benefits, policies that some fiscal hawks worry would increase the federal deficit, and with it, inflation.But even if Trump faces meager resistance on Capitol Hill, another force may temper his policies: the bond market.While stocks just pulled off a record-setting week, with the S&P 500 gaining roughly 5 percent since Election Day, a volatile bond market signals that investors have some worries that an unchecked Trump agenda might stimulate growth but worsen the country’s debt burden.“If the Trump administration runs excessively stimulative fiscal policy, with lots of spending and tax cuts, leading to even wider deficits, I think then that may cause the bond vigilantes to push yields up to levels that create problems for the economy,” Ed Yardeni, the president of Yardeni Research, told DealBook.Yardeni, a veteran Wall Street analyst, coined the term “bond vigilantes” in the 1980s to describe the influence that frustrated bondholders can have on the policy agendas of politicians and central bankers. He sees a potential for bond vigilantes to pose a risk to the Trump agenda, too.The United States sells Treasury bonds and notes to fund big parts of the federal government. These auctions provide the lifeblood of the U.S. economy, and the yields on Treasuries are viewed as a real-time gauge of the country’s financial health. Yields tend to climb when investors anticipate economic growth accelerating inflation, and expect the Fed may have to raise rates to slow the economy. Higher yields mean the government pays more to borrow.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Democrats Need Working-Class Voters. Maybe Now They’ll Act Like It.

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      The other day I was supposed to visit a friend who had been released from prison. He had to cancel to rescue his sister, who is using drugs again.Another old friend needed a ride: It turned out that his car had broken down again, and until his next paycheck came, he couldn’t afford a $2 bolt to fix it.I think of friends like these here in rural Oregon, in an area that mostly supports Donald Trump, when people ask me why America’s working class rejected the Democrats on Tuesday. My neighbors, struggling to pay the rent and buying gas five dollars at a time, often perceive national Democrats as remote elites more eager to find them pronouns than housing. Election postmortems have been dissecting Vice President Kamala Harris’s campaign, but the challenge for Democrats goes far beyond any of that.For several decades, voters have identified more with the Democratic Party than with the Republican Party. But in some polls this year, more people have affiliated with the Republican Party than with the Democratic Party. Looking ahead at the specific Senate seats that will be in contention in 2026 and 2028, it’s not easy to see when the Democrats will have a chance to recover the chamber.I see the disenchantment with Democrats in my hometown, Yamhill, which traditionally was dependent on timber, agriculture and light manufacturing. But then good union jobs left, meth arrived and everything changed. Today more than a third of the kids on my old No. 6 school bus are dead from drugs, alcohol, suicide and reckless accidents.Here’s an astonishing statistic from Bureau of Labor Statistics data: Blue-collar private-sector workers were actually earning more on average in 1972, after adjusting for inflation, than they are now in 2024. So today’s blue-collar workers are on average earning less in real dollars than their grandparents were 52 years ago.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      The Book That Predicted the 2024 Election

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      The Book That Predicted the 2024 ElectionThe G.O.P. pollster Patrick Ruffini’s book “Party of the People” outlined the realignments reflected in this year’s election results.This is an edited transcript of an episode of “The Ezra Klein Show.” You can listen to the conversation by following or subscribing on the NYT Audio App, Apple, Spotify, Amazon Music, YouTube, iHeartRadio or wherever you get your podcasts.You should be skeptical of anyone with a very detailed, confident take on the dynamics of the 2024 election right now. At the very least, you should be if they didn’t tell you before the election.But Patrick Ruffini, a longtime Republican pollster who is a founding partner at Echelon Insights, did tell you before the election. In 2023, he published a book called “Party of the People: Inside the Multiracial Populist Coalition Remaking the GOP.”What he argued in that book is really two things: First, the educational divide reshaping American politics would continue, with non-college voters swinging right and college-educated voters swinging yet further left. But second, he argued that the 2020 election results, weird as they seemed to many, weren’t a fluke.Donald Trump performed a lot better in 2020 than the polls said he would. A major reason he performed so much better is that he did better among Black, Hispanic and Asian voters. That was, to put it very mildly, not what Democrats expected. Trump was the xenophobe in chief. Democrats were appalled by the way he talked about immigrants, about Muslims, about China, about Black communities. The theory was that Trump was using racism and nationalism to drive up his margins among white voters.And then what actually happens after four years of his presidency is that Biden in 2020 does a bit better than Clinton did among white voters. And Trump in 2020 improves quite a bit among nonwhite voters.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Powell, Fed Chair, Will Likely Face Heavy Pressure From Trump

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      The chair of the Federal Reserve made clear he would not resign, even under pressure. But pressure from the White House is likely, market watchers say.Jay Powell, the Fed chair, with President Trump during more tranquil times in 2017.Carlos Barria/ReutersPowell pushes back Jay Powell and the Fed may have pulled off the improbable soft landing in taming inflation while not crashing the economy into recession, proving many a Wall Street naysayer wrong.But an even bigger wildcard looms in another Donald Trump presidency — what Trump 2.0 might mean for interest rates, Fed independence and the Fed chair’s own job.That tension burst into the open at the Fed’s news conference on Thursday. The usually dry event had moments of high drama that nearly overshadowed the decision to cut the benchmark lending rate by a quarter percentage point. Powell delivered a forceful “no” when asked by Victoria Guida of Politico if he would consider resigning if Trump asked.He delivered a more emphatic response when pressed by another reporter on whether the president had the legal authority to fire him. “Not permitted under the law,” Powell said.Trump has made waves by saying that a president should have a say in rates policy. And suggestions have circulated from inside the president-elect’s camp that he would sideline Powell if re-elected — something Trump flirted with during his first term after appointing Powell in 2017.The S&P 500 advanced as the news conference wore on, closing at another record, and Treasury bonds also rallied.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      5 Things to Know About Trump’s Tariff Threats

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      The president-elect says that tariff is “the most beautiful word in the dictionary.” You may be hearing it a lot.President-elect Donald J. Trump has professed a belief in the power of tariffs for decades. Now, as he prepares to take office, they are a central part of his economic plan.Mr. Trump argues that steep tariffs on foreign goods will help benefit U.S. manufacturing and create jobs. His proposals would raise tariffs to a level not seen in generations. Many economists have warned of potentially harmful consequences from such a move, including higher costs for American households and businesses, and globally destabilizing trade wars.Here are five crucial things to know about Mr. Trump’s sweeping trade plans.Mr. Trump has floated several hefty tariff plans.While campaigning for the White House, Mr. Trump offered up a running list of tariffs. He talked about a “universal” tariff of 10 to 20 percent on most foreign products. He has proposed tariffs of 60 percent or more on Chinese goods. And he has suggested removing permanent normal trading relations with China, which would result in an immediate increase in tariffs on Chinese imports.Mr. Trump has also promoted the idea of a “reciprocal” tariff, in which the United States would match the tariff rates that other countries put on American goods. He has suggested using tariff revenue to replace income taxes. And he has threatened tariffs of 100, 200 or even 1,000 percent on Mexico, saying the country should do more to stop flows of migrants and shipments of Chinese cars.The Biden administration has also raised tariffs on goods from China, but Mr. Trump’s plans are much larger — affecting trillions of dollars of products, rather than tens of billions.Mr. Trump says foreign companies pay the tariffs. That’s usually wrong.A tariff is a tax that is put on a product when it crosses a border. For instance, a company that brings its product into the United States — the importer — actually pays the tariff to the U.S. government.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More

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      Democrats Got the Recovery They Wanted. It Wasn’t Enough.

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      America’s economic growth is the envy of its global counterparts. But voters wanted more from the Biden administration — specifically, lower prices.Every major U.S. ally is uncomfortably familiar with one of President Biden’s favorite charts. It is a graph of economic recoveries in the wealthy world since the end of the pandemic recession. It shows growth flatlining for the United Kingdom, Germany and Japan over the past two years — while in the United States, growth keeps rocketing up.That chart helps explain why voters have punished ruling parties in election after post-Covid election around the world. Sluggish growth, coupled with a surge in consumer prices, proved toxic for the Conservative Party in Britain. It helped hobble President Emmanuel Macron’s centrist coalition in France and contributed to Japan’s longtime leaders, the Liberal Democrats, losing their majority this fall.Germany’s governing coalition has been so weakened by recession and so flustered by disagreements over how to revive growth that it teetered this week on the brink of collapse.Advisers to Mr. Biden and to Vice President Kamala Harris, his successor candidate in the presidential election, had hoped that America’s outlier economy would rescue them from a similar fate.It did not.Ms. Harris lost to former President Donald J. Trump. Democrats will spend at least months parsing data for conclusions on what drove the defeat. Certainly, economic factors were only one contributor.But as Europe’s stumbling economies woke on Wednesday to the news of Ms. Harris’s defeat, one thing was immediately clear: America’s growth engine may be the envy of the world, but it is not the envy of the American public.We are having trouble retrieving the article content.Please enable JavaScript in your browser settings.Thank you for your patience while we verify access. If you are in Reader mode please exit and log into your Times account, or subscribe for all of The Times.Thank you for your patience while we verify access.Already a subscriber? Log in.Want all of The Times? Subscribe. More