The Republicans Take a Licking, but the Economic Boom Will Not Be Stopped

President Trump and the GOP took a licking last night. There’s no way around it. I thought they might hold on to the Senate, but clearly I was wrong. It’s not a blue tsunami, though, or other catastrophic phrases that are being used.Look, as of this reporting, the GOP lost 29 seats in the House, seven seats in Senate. Okay. By comparison, President Clinton lost 54 House seats back in 1994 and President Obama lost 63 House seats back in 2010. Now, people have counted out President Trump time and again, but I wouldn’t if I were they. He is the most consequential politician of our time. And if the Democrats buy into the socialist left agenda of soaking the rich with tax hikes, a return of the Green New Deal, Medicare for All, a regulatory assault on business, open borders, changing the Constitution, more woke and DEI, if they pull that, you can be sure Mr. Trump will use his veto pen and will also continue to use executive authority, okay? Here’s what the president had to say on this subject: “It’s been done before, as you know, numerous times. And it’s a power of veto. It’s one of the stronger powers that a president has. And they’ll send over things that are insane, and I’ll veto them.” He added that “after a couple of months of vetoes, they’ll call and they’ll say, how do we get this stuff done? And we’ll work together. The power of the veto is, you know it’s impervious. I’m a person that likes getting things done. And there are things that we can work with.”Alright, it would appear that both Mr. Trump and Vice President Vance are mainly blaming the Iran war and higher fuel costs as the main culprits in the GOP defeat last night. I don’t know if Mr. Vance is splitting off from Mr. Trump or not. More to be disclosed on that one. Personally, I continue to believe that Mr. Trump was right and stopping Iran’s nuclearization has been a historic decision.I’m also uncomfortable with Mr. Vance’s sniping at Israel in his X post. Here’s my main point, though. It did appear in Mr. Vance’s post: I don’t believe the Republican Party sold the economic boom that was generated by the one big beautiful bill. Tax cuts, lighter regulation of business, drill baby drill, trade reciprocity.Virtually every single data point over the last bunch of months spells economic boom. Just recently, the Institute for Supply Management’s manufacturing index has been up for 10 straight months. And then there’s the growth in the ISM services index, along with rising consumer spending and business investment. There has also been tremendous private job creation accompanied by a shrinking federal government, not to speak of closing the border. That itself was an economic event, as well as reinforcing our sovereign borders, not to speak of the trade reciprocity that has brought trillions and trillions of dollars back to America — on-shoring is not out of style — and that has helped create a manufacturing boom.And then, to be sure, the advanced technology from the AI boom, which most Democrats campaigned against. We’ll talk about that later on.Meanwhile, crime has come down, jobs have gone up. There are more job openings today. Virtually no one’s getting fired. Unemployment claims hit almost a 60-year low. Now, my point is the GOP could have even messaged a future economic growth agenda, talked about more tax cuts for growth, using all the fraud discoveries to significantly lower federal spending and the budget deficit. The problem is that there’s never any concerted marketing plan to make the economic sale.And while it’s quite true that the gasoline prices are a problem, I get that, inflation under Mr. Trump is still much lower than it was under President Biden. Under Mr. Biden inflation rose 9 percent in one year, and some 21 percent overall. Mr. Trump is nowhere near that. Yet those points were never made sufficiently. And these statistics were never part of a comprehensive selling job for the economic boom.Alright, so look, Democrats don’t even like gasoline. They’ll tax it to death, they’ll ban it, they will stop gas-powered cars. Nobody ever really reminded voters of that. They didn’t strike, they didn’t go after it. So the GOP kind of stuck holding the bag, you know? And frankly… I’ll make a lighter touch here, but still an important one.On the war in Iran, which I favor, nonetheless, in recent months, there seems to be too much indecision. On again, off again, on again, off again.Anyway, Mr. Vance is undoubtedly right. Mr. Trump acknowledges it. Republican voters turned out, but they went the other way at the polls. It’s not the end of the world. The president will prevent the Democrats from wrecking his economic boom. That’s my key point.From Mr. Kudlow’s broadcast on Fox Business Network.

The Republicans Take a Licking, but the Economic Boom Will Not Be Stopped

The Republicans Take a Licking, but the Economic Boom Will Not Be Stopped

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