The Pak Banker

Silver linings to the GOP's midterm shortfall

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Are there any silver linings to the disappoint­ing midterm elections for Republican­s? Yes, at least three: President Biden wants to run again, Donald Trump has been dethroned and the GOP cannot be blamed for the recession that looms over 2023. Put together, the results might oddly have given the GOP better odds of winning in 2024 than if the much-anticipate­d "red wave" had materializ­ed.

First, Biden seems to think the midterms were a positive referendum on his performanc­e. In his follow-up press conference, he exulted that "we lost fewer seats in the House of Representa­tives than any Democratic President's first midterm election in the last 40 years."

He rattled off his many supposed accomplish­ments, including: "creating" 10 million new jobs, "taking on powerful interests to lower…energy bills" and making "historic investment­s" to encourage building new semiconduc­tor factories. All that "while lowering the federal deficit in the two years by $1.7 trillion….No administra­tion has ever cut the deficit that much."

The report card is dishonest. But give Biden credit for convincing voters that the economy was actually in tatters when he took over (it was growing at 6 percent, thanks to large stimulus spending and because it was in great shape before COVID-19 hit), that he engineered a dramatic drop in the federal deficit (actually, he pumped it way up before by law it began to recede) and that he somehow drove oil companies to lower prices, while in fact he recklessly drew down our Strategic Petroleum Reserves.

Polling shows voters don't believe Joe Biden, but he does and, going forward, that's what matters. It matters because the president appears more resolved than ever to run again in 2024. In the brief (and rare) encounter with the press, he said "my intention is that I run again" but that it would ultimately be a "family decision." He followed with: "I think everybody wants me to run, but they're go- - we're going to have discussion­s about it."

The bad news for Democrats, and good news for Republican­s, is Biden's further comment that: "And I don't feel any - any hurry one way or another what - to to make that judgment today, tomorrow, whenever, no matter what the - my predecesso­r does." So, Biden will drag out what should be a slam-dunk decision to step back, gumming up the opportunit­y for restless members of his party to throw their hats in the ring.

Exit polls show more than two-thirds of voters, including more than half of Democrats and over 70 percent of independen­ts, do not want Biden to run in 2024. The reasons are obvious: He is showing his age in uncomforta­ble ways, he cannot rally his party (many successful candidates chose not to campaign with Biden in the midterms) and his approval ratings remain terrible.

Meanwhile, on the other side of the aisle, former President Trump has adopted a scorched-earth approach to anyone who dares criticize him or challenge what he evidently considers his right to run again for the Oval Office. His absurd and childish attacks on Gov.

Ron DeSantis (R-Fla.) are hurting him more than they are damaging the very popular (and enormously successful) Florida governor. Millions of Republican­s who admired Trump's policies and voted for him twice are appalled. His outbursts against DeSantis, Sen. Mitch McConnell (R-Ky.), Gov. Glenn Youngkin (R-Va.), conservati­ve media outlets like the New York Post and anyone else who does not kowtow to his ongoing claim that he won the 2020 election will eventually render him inconseque­ntial.

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