Derek Thompson argues that last Tuesday gave the Democrats a winning theme - if not quite a winning platform. By focusing on "Affordability" they can focus voters' ire about rising prices, the same ire that turned Democrats out of power last November. A year is eternity and Thompson does acknowledge that there are a few problems, but I'd expand on them.
First, the primary driver of rising costs in 2022 was the post-Covid supply chain issue. That was an exogenous event that had little policy roots. In 2025, the primary cause of inflation is a combination of tariffs and deportations. By raising the prices of imported goods and raw materials and also restricting the labor supply, Trump seems bound and determined to create a stagflationary spiral. The problem for Democrats should they win in 2026 is to actually reverse many of those problems, and that will be very hard to do with Trump in the White House. You probably will be able to reverse the tariffs, but the workforce issue will not improve as long as Stephen Miller has an office in the West Wing.
Secondly and relatedly, even where you can and could act today or in 2026, it takes a long time to turn an economy around. In 2021, inflation was at 4,7%. High but OK. In 2022, it was 8%. No bueno. In 2023, it was at 4.1%, which would suggest it was calming down and in 2024, sure enough, it was at 2.9%. That rate would have been fine, if it wasn't for the fact that prices had been rising for three years. That almost 3% increase was happening to an already elevated number. The policies pursued by the Federal Reserve and Biden Administration were good and working, and if the election had happened a year later, I bet the result might have been different.
Still, if your Sherrill or Spanberger or even Mamdani, you are very unlikely to effect wholesale reductions in prices. Whereas Trump has pursued inflationary policies because he's a fucking idiot, you could try and reduce some regulations and that would be a really good policy outcome, but it might not rein in prices for two reasons. First, making it easier to build housing should be a priority in every Blue polity, but that will take 2-4 years to actually show up as places for people to live. Second, Trump's policies will supersede what you are doing. If you make it easier to generate electricity in your state, that won't help if unregulated data centers gobble it all up. If you reform housing codes, it won't matter if Trump deported all the Latin American tradesmen.
Of course, who cares. If Democrats can win control of both house of Congress next November running against Trump's terrible economic policies, then democracy might be saved. Voters will still blame his party in 2028. Hopefully, the AI/Crypto bubble bursts and data centers wither on the vine, freeing up electrical generation for consumers. Maybe we finally get a comprehensive and humane guest worker program and more legal immigration in 2029.
Paul Campos refers to our era as the Age of Unhappiness, which I think is accurate. That has political repercussions, but we need to recall how well Democrats did in 2022 relative to expectations. If Trump continues to immiserate the population, then any breath of fresh air in 2028 could reshape political coalitions.
Joe Biden's age was not a question of infirmity, so much as it rendered him incapable of making his case to the American voter. Making a case for abundance as a formula for affordability is something that doesn't require a politician to have the charisma of a Mamdani.
