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Showing posts with label inflation. Show all posts
Showing posts with label inflation. Show all posts

Sunday, October 25, 2026

Trump Speaks. Democratic Oppo Researchers Say "Thank You, God!"

 Our most recent book is The Comeback: The 2024 Elections and American Politics. It includes a chapter on congressional and state elections.  In 2024, the book explains, the Democrats' problems involved reality, not just messaging.  Two years later, Republicans own the reality problems, including the Iran quagmire and the resulting economic pain. Tariffs make things even worse. Indeed, it is hard to think of any president who has indulged in such needless midterm self-sabotage.

It goes beyond policy.  He pushed weak Republican candidates for nomination in Texas, South Carolina, Georgia, and elsewhere.

And his rhetoric has become an ammo dump for Democratic opposition researchers.


Friday, October 23, 2026

Petroleum Politics in Late October

Our most recent book is The Comeback: The 2024 Elections and American Politics. It includes a chapter on congressional and state elections.  In 2024, the book explains, the Democrats' problems involved reality, not just messaging.  Two years later, Republicans own the reality problems, including the Iran quagmire and the resulting economic pain.

 Natassia Paloma at The El Paso Times:

Gas prices remain above $4 a gallon nationwide as crude oil prices hover near $100 a barrel.

As of Friday, Oct. 23, the national average for a gallon of regular gasoline stood at $4.29, down about 20 cents from a week earlier but still more than $1 higher than the same time last year, according to AAA.

Diesel prices averaged $5.75 a gallon, compared with $3.11 a year ago
.

Will Kubzansky at Bloomberg:

Gas prices in two Midwestern battleground states saw further hikes on Thursday as the region's market grapples with a refinery issue in Illinois.

In Michigan, prices rose to $4.74 a gallon on Thursday, up from $4.59 a gallon on Wednesday, according to GasBuddy, a fuel savings app that tracks prices in live time. In Ohio, prices stood at $4.34 a gallon, up from $4.05 a gallon on Wednesday. GasBuddy's prices differ slightly from those released by AAA, which issues nightly updates on prices.

A shut-down of a key unit at ExxonMobil Holdings Corp.'s Joliet, Illinois, refinery had already pushed prices significantly higher on Wednesday in both states.

Millions of homeowners across the Northeast could pay more to heat their homes this winter, as heating oil prices remain high after surging in the months following the start of the Iran war in late February.

While over 90 percent of U.S. households use natural gas and electricity to warm their homes, heating oil is still widely used in the Northeast, a particularly cold-weather region. According to the latest data from the Energy Information Administration (EIA), only four percent of households nationwide used heating oil as their primary heating source, while five percent used propane.

...

Maine has the nation’s highest share of homes relying on heating oil as the main heat source, according to the latest state-level Census Bureau data available on fuels used in homes, which refers to 2022, at around 50 percent. The number was obtained by calculating the proportion of occupied housing units whose main heating fuel was “fuel oil, kerosene, or other.”

New Hampshire, Vermont, Connecticut, Alaska and Rhode Island follow with shares between 37 percent and 25 percent. Massachusetts, New York and Pennsylvania are next with shares between 20 percent and 12 percent.

Peter McGuire at Maine Public Radio:

Maine heating oil has hit a new record high price as the federal government scrambles to stabilize prices ahead of cold winter weather.

The average statewide price was $6.04 per gallon on Oct. 19, according to the Maine Department of Energy Resources, which tracks weekly oil prices. That means it will cost about $750 more to fill a 275-gallon oil tank than it did a year ago, according to the department.

 

Sunday, October 18, 2026

More Bad Numbers for the GOP

 Our most recent book is The Comeback: The 2024 Elections and American Politics. It includes a chapter on congressional and state elections.

Ben Casselman at NYT:

True, much of the data pointed to strength, or at least stability. Retail sales rose at a healthy pace in September. Filings for unemployment benefits remained low. Industrial output hit a postpandemic high.

But there was no relief on the issue that matters most to many voters, inflation. Consumer prices rose last month at their fastest rate since May, outpacing wage growth for the sixth month in a row. Producer prices, too, came in hot, as did prices for imported goods. And gasoline — the most visible price in the economy, and one that few Americans have any choice about paying — stayed above $4 a gallon nationally, where it has been for most of the past six months.

Little wonder, then, that measures of consumer sentiment have worsened, and that polls show voters are poised to punish Republicans for failing to keep the economic promises they made on the campaign trail two years ago.

The cost of living “is going to be the first issue on the scorecard in 2026,” said John W. Lettieri, president of the Economic Innovation Group, which last week published a survey of voter attitudes on the economy. “The results are not good on that top issue.”

Sahil Kapur at NBC:

Weeks ahead of Election Day, 71% of U.S. adults think the country is on the “wrong track.” It’s the highest share yet in President Donald Trump’s second term, illustrating the grim national mood his party faces in the midterm elections, according to a new NBC News Decision Desk Poll powered by SurveyMonkey.

Poll respondents expressed deep unhappiness over economic conditions and widespread distrust toward both major political parties, but Trump and Republicans bore the brunt. For the first time in Trump’s second term, the poll has found the “right track” sinking into the 20s. A majority of Americans view the president’s administration as uniquely corrupt, even as they look skeptically at corruption in both parties. And they say Trump is failing to improve their material financial conditions.
13 min
 Dan Balz and Scott Clement at WP:
Two weeks from Election Day, Republicans face a bleak political landscape. President Donald Trump’s approval rating has fallen to a new low, and support for Democrats in the race for control of Congress is rising as inflationary pressures contribute to an acrid mood among voters, according to a Washington Post-ABC News-Ipsos poll.

Trump’s approval among U.S. adults now stands at 33 percent, with 66 percent disapproving; 52 percent said they disapprove strongly. That approval rating is four percentage points lower than in July and eight points lower than at this point last year. Among likely voters, Trump’s approval is 38 percent, with 62 percent disapproving.

The poll also finds that, for the first time in more than a decade, Democrats are seen as more trusted to deal with the economy.
In the competition for control of the House, Democrats hold an eight-point lead among registered and likely voters, an improvement for the party since The Post’s July poll, when the Democratic lead was three points with registered voters.
Trump is central to Republicans’ struggles. In a separate question, the poll asked voters whether they would rather have a Democratic-led Congress acting as a check on Trump or a Republican one to support his agenda. By 58 percent to 39 percent, registered voters said they prefer the Democrats. That margin is roughly double what it was a year ago.

In other words, James Madison still rules America. 

Sunday, October 11, 2026

On the Menu: Baked Midterm

 Our most recent book is The Comeback: The 2024 Elections and American Politics. It includes a chapter on congressional and state elections

Erin Doherty and Jessie Blaeser at POLITICO:
Republicans are running out of ways to reverse their gloomy midterm prospects.

The POLITICO Poll finds most Americans see no clear way for the party to regain the advantage as the election reaches its final weeks, with even Republican voters skeptical that President Donald Trump could pull off a last-minute move that could shake up the campaign. And majorities of voters say they would not be more likely to vote Republican even if Trump were to pull off a major political feat before November — like announcing the Iran war was over, bringing the price of gasoline down by $1 or creating 100,000 new jobs.
That’s especially true of Democratic midterm and undecided voters: No matter the scenario or how significant the accomplishment, both groups hardly moved, the poll shows.
Voters’ perception of Trump’s actions and the economy are largely baked — a worrying sign for the GOP staring down an increasingly difficult landscape.

 “I think a lot of the die is already cast,” said Mike Noble, the founder of Arizona-based polling firm Noble Predictive Insights. “It’s tough talking to Republicans, unless they’re just incredibly big die-hards. Like, how do they get motivated right now? Democrats are clearly motivated.”


Thursday, October 1, 2026

The Hits Keep Coming

Our most recent book is The Comeback: The 2024 Elections and American Politics. It includes a chapter on congressional and state elections.  In 2024, the book explains, the Democrats' problems involved reality, not just messaging.  Two years later, Republicans own the reality problems, including the Iran quagmire and the resulting economic pain.

JILL COLVIN and LINLEY SANDERS at AP:
Americans are deeply frustrated with President Donald Trump’s handling of the economy and rising prices, with most panning his performance and blaming his policies as higher costs threaten his party’s chances in November.

A new poll from The Associated Press-NORC Center for Public Affairs Research finds that only 17% of U.S. adults approve of the Republican president’s handling of the cost of living. Just 26% approve of his handling of the economy overall, marking a new low.

A majority, 65%, of U.S. adults now blame Trump’s policies for persistently high costs more than factors outside of his control, signaling growing weariness over his aggressive use of tariffs and continued unhappiness with the war with Iran.

Hans Nichols at Axios:

Between the lines: Republicans decided against breaking for an early recess last week.The biggest thing to show for it: A historic — and bipartisan — college sports package that doesn't do much for those defending their seats in November. It faces long odds in the House.

 Otherwise it was a week of pain:
  • Failed votes: A vote addressing Americans' concerns about data centers driving up energy costs failed today, as did another to curb congressional stock trades and enforce voter IDs.
  • A line of attack that backfired: A major hearing with Jack Smith was overshadowed by a failed attempt by Sen. Eric Schmitt (R-Mo.) to link the special counsel and Atlanta prosecutor Fani Willis.
  • The Trump issue: Republicans have been tiptoeing around whether Trump's unpopularity will hurt the party in November, only for Texas nominee Ken Paxton to be caught blaming Trump's midterm convention for hurting his polling.
  • NRSC Chair Tim Scott (R-S.C.) said Paxton's analysis was "just wrong" and called the convention "a boost in the right direction."

Isaac Arnsdorf at WP:

Now, as dissatisfaction grows with Trump’s economic performance, questions about how he and his family profit from the presidency have taken on more bite. Some of the loudest complaints are coming from young, male crypto enthusiasts who were initially energized by candidate Trump’s embrace of the industry — and now are better equipped than the average voter to understand the ventures that earned the president $1.4 billion last year.

 ...

“What they basically did was a money grab,” said David from South Carolina, a participant in a focus group of independent and moderate 18-to-24-year-olds conducted this year for the Bulwark’s Focus Group podcast. “Why does he need to keep doing it? He’s literally a billionaire. Like, how much more money does he need?” The Washington Post is identifying participants in the focus group only by their first names in accordance with the ground rules for the session.
Six out of nine of the young men on that panel said they had heard of Trump’s memecoin. In another focus group, all eight had. The participants referenced a meme of a “Trump” playing card that cuts your portfolio by half and a viral, unverified story about a young man who lost his inheritance by betting on the Trump coin.

...

Trump won 43 percent of 18-to-29-year-olds in 2024, according to exit polls. Last month, his approval rating with voters under 30 dropped to 19 percent in a Fox News poll, which found 63 percent saying they would vote for a Democrat for Congress.

...

“I always supported Trump, and he promised that he would be the crypto president,” Pinto said. “I was under the impression that would be for bitcoin — I never thought he would launch his own token.”

“The whole thing is a rug pull,” he added, using crypto slang for a scheme where someone creates a token, hypes it up and then cashes out.

In addition to his memecoins, Trump also owns a stake, the exact size of which is undisclosed, in World Liberty Financial, a crypto venture set up by his sons alongside the sons of Trump’s special envoy Steve Witkoff. The company offers stablecoins, marketing itself as a way around conventional banking.


Saturday, September 26, 2026

Craptastic Outlook for GOP


This week,
  • Trump's disapproval rating hit 60.4%, the worst mark of his two terms in office, including the aftermath of the Jan. 6 riots.
  • Gas prices are over $4 a gallon, diesel has hit $6.50 and no relief is in sight.
  • Seven months in, the U.S. is locked in a standoff with Iran with no apparent exit strategy.
  • Grocery prices are still rising year over year.
  • Mortgage rates hit 7%.
  • And the cost of borrowing across the economy continues to climb.
Enter the elections: The problems for the GOP are everywhere. In the battle for the Senate, once ruby-red Texas looks more in play than ever, and Florida isn't far behind. Nor is Alaska. North Carolina and Georgia look lost. Maine is problematic.The Senate GOP campaign arm is begging donors for another $8.9 million to defend Senate seats in three states that Trump won by double digits two years ago — Alaska, Iowa and Ohio.
"We're having problems just getting Republican voters to respond to polls," said one national Republican pollster. "At what point do we think these guys aren't showing up at the actual polls on Election Day?"
...

On the House side, the Cook Political Report moved 15 House races toward Democrats on Friday.Democrats need to net just three seats to win control of the chamber.
Republicans are now playing defense deep in red America. GOP-aligned groups are spending money in more than a half-dozen districts that Trump won by at least 15 points in 2024.
...
What they're saying: "While many have long predicted that Democrats will enjoy a 'blue wave' election, I think of it more as a 'red undertow,' which will pull many Republicans under and significantly trim the margins for many others, said the Cook Report's founder and top elections handicapper Charlie Cook.That's an implied reminder that Democrats' favorability ratings aren't good; they're just better than Republicans'.
"Over the last 90 days," Cook added, "President Trump's political standing has transitioned from very unpopular to toxic and now to radioactive."
Said another consultant involved with races across the country: "Things were bad. But they started to go worse recently and if it keeps on this track, it's gonna be real bad."

The environment is starting to rival the second midterm election of President George W. Bush's tenure in 2006, the consultant said, amid the Iraq war and the botched response to Hurricane Katrina. Republicans lost control of both chambers after losing 30 House seats and six Senate seats."The numbers are somewhere between shitabulous and craptastic," a top Republican advising several federal races across the country told Axios. "It looks worse than 2018 now. Trump is heading to Bush 2006 levels."

State of play: More and more lately, Republican incumbents are running for cover from Trump.In Iowa, two House Republicans have switched their positions to support a war powers resolution on Iran.
Sen. Chuck Grassley, who rode the 1980 Republican wave to the Senate, and Rep. Ashley Hinson, who's running for Iowa's other Senate seat, are demanding restrictions on diesel exports.

Tuesday, September 22, 2026

"We're gonna get crushed"

Our most recent book is The Comeback: The 2024 Elections and American Politics. It includes a chapter on congressional and state elections. In 2024, the book explains, the Democrats' problems involved reality, not just messaging. Two years later, Republicans own the reality problems, including the Iran quagmire and the resulting economic pain.

Mychael Schnell at MS NOW:

There are just six weeks to go until the midterm elections. The national average for a gallon of gas is just a couple cents short of $4.50. Diesel has climbed above $6.50. And Republicans are officially freaking out.

Last week, House GOP lawmakers got into a heated shouting match over what to do about one of the party’s biggest vulnerabilities — those soaring gas prices — with a private meeting ending without a path forward.

Vice President JD Vance traveled to Kansas to campaign for Republicans on the ballot, a sign of the increasingly competitive environment even in reliably red territories. And after months of speculation that he may not spend, President Donald Trump is unleashing tens of millions of dollars from his super PAC, trying to give struggling candidates a late boost.

Publicly, Republicans are putting on a brave face, insisting that Democratic dreams of a wave election are far from certain. But privately, GOP lawmakers say they see the writing on the wall, recognizing that even some relatively safe districts could be vulnerable.

“We’re gonna get crushed,” one House Republican told MS NOW. “The only question is by how much.”

This GOP lawmaker, who was granted anonymity to discuss the internal dynamics, called this midterm cycle “a gasoline and ground beef election.”

“And when you’ve got ground beef at $9 a pound and diesel at $6.50 to $7.50. We’re getting screwed,” the member said.

Another House Republican, who was also granted anonymity, told MS NOW that if you’re a Republican and you’re not concerned, “you’re stupid.”

“On the macro level, yes, they’re concerned, of course they should be,” the lawmaker said. “But is there still hope? Absolutely. Are many of these races within striking distance? They are, if you believe polling.”

That anxiety for Republicans is taking hold with just 42 days until the midterms, and polls showing Democrats with a solid advantage nationally.

Monday, September 21, 2026

As Fall Begins

Our most recent book is The Comeback: The 2024 Elections and American Politics. It includes a chapter on congressional and state elections.  In 2024, the book explains, the Democrats' problems involved reality, not just messaging.  Two years later, Republicans own the reality problems, including the Iran quagmire and the resulting economic pain.


1. Diesel Price/Gal: January forecast $3.41. September reality $6.39.

2. Midterm Prospects: In January, Dems had an 18% shot at the Senate per Kalshi. On Friday it hit 60%, and Dems’ generic ballot lead doubled.

Sources: RCP generic ballot poll aggregation; Kalshi (Senate & House)

3. The Fed: In February, markets bet on a cut. In September, the Fed hiked. Today 87% predict another hike this year.