More on those US elections and what they can tell us about the political outlook.

Elliot Morris recently appeared as a guest on Paul Krugman’s Substack podcast. Krugman has published this brief summary of Morris’ findings.

“First, the election results confirmed what the polls have been telling us for months: Trump is deeply unpopular, his policy agenda is unpopular, and when voters are forced to choose between Trump and something else, they choose something else.

“Second, the movement to Democrats was concentrated among the voters who powered Trump’s win in 2024: Latinos, Gen Z, and lower-income voters. Hispanic-heavy precincts shifted 60 points to the left. People who rank the economy as their top issue also broke decisively in the Democrats’ favor, a big reversal from 2024.

“And why did the Democrats win so big? In one word: affordability. In two words: affordability and Trump. When the economy isn’t delivering for the average voter, Americans usually respond by voting out the party that holds the White House. Trump’s unpopular agenda on immigration and tariffs likely exacerbated the swing against him, explaining a larger-than-average defeat in VA and NJ.

“We also get into why affordability — not hyper-optimizing issue positions or a radical shift to the center — is the path forward for Democrats. I look at the Strategist’s Fallacy in action, and urge people to think about politics beyond the 1-dimensional left-right ideological spectrum.

“Finally, the results of Tuesday’s election predict a sizable Democratic edge in the 2026 House midterms and give them a non-trivial shot at winning back the Senate (I give them a ~30-35% chance). Lots can change, of course, but the upshot for now is clear: Democrats are in the driver’s seat next year. On the core questions of economic stewardship and policy congruence with the average voter, Trump is falling short. Looking ahead, Republicans will face serious headings for Trump breaking his promises on prices.”