So there are roughly five main reasons that the collective wisdom, such as it is, has identified to explain why the election was such a blowout. One, Barack Obama’s unpopularity. Two, a motivated conservative base. Three, a dispirited liberal base. Four, the recruitment by the Republicans of affable-seeming candidates who had some discipline drilled into them. Five, the tens or arguably hundreds of millions of dollars in dark money that flowed from corporate sources into GOP coffers.
Those who feel moved to add a more substantive reason will say, “Oh yes, and the economy.” In fact they might even list it first. But this is wrong. It’s way too vague. It’s really important to understand this and focus on the exact problem, so that the Democrats can try to get this right in 2016.
“The economy” is pretty good. The gross domestic product in the third quarter grew at an annual rate of 3.5 percent. The deficit is down to 2.8 percent of GDP, from a high of 10.1 percent in the wake of the meltdown. At the moment I’m writing this paragraph, the Dow Jones Industrial Average is at 17,523, and it’s been closing at all-time highs lately. Corporate profits are enormous, as you know. Average weekly jobless claims are at a 14-year low. And as we just learned Friday morning, the economy added 241,000 jobs, and its now clear that 2014 will be the best year for job growth since 2006.
So the problem isn’t “the economy.” The problem is one particular aspect of the economy: wages. Unfortunately for Obama and the Democrats it’s the thing that kinda matters the most to people, and it’s the thing that during his presidency has sucked for pretty much everyone except those at the top. more . . .
Those who feel moved to add a more substantive reason will say, “Oh yes, and the economy.” In fact they might even list it first. But this is wrong. It’s way too vague. It’s really important to understand this and focus on the exact problem, so that the Democrats can try to get this right in 2016.
“The economy” is pretty good. The gross domestic product in the third quarter grew at an annual rate of 3.5 percent. The deficit is down to 2.8 percent of GDP, from a high of 10.1 percent in the wake of the meltdown. At the moment I’m writing this paragraph, the Dow Jones Industrial Average is at 17,523, and it’s been closing at all-time highs lately. Corporate profits are enormous, as you know. Average weekly jobless claims are at a 14-year low. And as we just learned Friday morning, the economy added 241,000 jobs, and its now clear that 2014 will be the best year for job growth since 2006.
So the problem isn’t “the economy.” The problem is one particular aspect of the economy: wages. Unfortunately for Obama and the Democrats it’s the thing that kinda matters the most to people, and it’s the thing that during his presidency has sucked for pretty much everyone except those at the top. more . . .

