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"Usually the story for a typical election in recent years has been that the early vote is Democratic and the Election Day vote is Republican," he said. "And it looks as though we're going to have the same story this year, and we're going to have to wait to see what happens with that Election Day vote before we can really say what's going to happen."

"Typically, when we talk about early voting, we're talking about Democrats voting in person early and Republicans voting by mail," McDonald said. "This election, those roles are reversed. But when you look at the overall electorate, there are many more people voting by mail than in person early in most states."

The shift could be at least in part due to President Trump's consistent false claims that voting by mail leads to widespread fraud, whereas Joe Biden's campaign has been aggressive in urging supporters to vote early, whether in person or by mail.

the numbers of young people voting early have skyrocketed, particularly in states that will be critical for Biden and Trump to win, such as Michigan, Florida and North Carolina.

Young people could wield significant political power: Millennials and some members of Generation Z make up 37% of eligible voters, roughly the same share of the electorate that baby boomers and older voters ("pre-boomers") make up, according to census data analyzed by the Brookings Institution.

As early voting began, the pent-up voting interest showed as long lines formed in states such as Georgia and Texas, with some voters waiting for hours. Election officials had warned that some in-person voting locations would face longer lines as some jurisdictions have had to consolidate polling places and adjust logistics to accommodate social distancing during the pandemic.

"There is no place in the United States of America where two-, three-, four-hour waits to vote is acceptable and just because it's happening in a blue state doesn't mean it's not voter suppression," she said. "If this was happening in a swing state, there would be national coverage."

That's some 15 million more pre-election votes than were cast in the 2016 election, according to the U.S. Elections Project

With about a week still remaining until Election Day, Americans have already cast a record-breaking 62 million early ballots, putting the 2020 election on track for historic levels of voter turnout.

In 2019, McDonald predicted that 150 million people would vote in 2020's general election, which would be a turnout rate of about 65% — the highest since 1908. But he's going back to the drawing board. "I have increasingly been confident that 150 [million] is probably a lowball estimate," he said Monday. "I think by the end of the week I'll be upping that forecast."

voters have cast more than 45% of the total votes counted in the 2016 election.

"It's good news, because we were very much concerned about how it would be possible to conduct an election during a pandemic," he said, citing concerns that mail-in ballots would be returned by voters en masse at the conclusion of the early voting period, overwhelming election officials. "Instead, what appears to be happening is people are voting earlier and spreading out the workload for election officials."

Some states are quickly approaching their 2016 vote totals. In Texas, for example, nearly 7.4 million early votes had been cast as of Sunday, marking 82% of the state's total votes in 2016.

Montana, North Carolina, Tennessee and Georgia have also reached 65% or more of their 2016 vote totals.

Normally

“at how profoundly divided we’ve become. Donald Trump capitalized on that — he didn’t invent it — but someday soon we’re going to have figure out how to bring our country together, because right now we’re on a dangerous path, so very dangerous, and so vulnerable to bad actors.”

I can’t know all their motives for wanting to speak to me, but one thing many of them share is a desire to make clear that the alarm bells heard across the country are ringing loudly inside the administration too, where there are public servants looking to avert conflict, at all costs.

History may note that the most important thing that happened that day had little to do with the religious leader and his large life, save a single thread of his legacy.

You don’t know Donald Trump like we do. Even though they can’t predict exactly what will happen, their concerns range from the president welcoming, then leveraging, foreign interference in the election, to encouraging havoc that grows into conflagrations that would merit his calling upon U.S. forces.

“That’s really him. Not the myth that’s been created. That’s Trump.”

He’d switch subjects, go on crazy tangents, abuse and humiliate people, cut them off midsentence. Officials I interviewed described this scenario again and again.

Even if it takes weeks or months before the result is known and fully certified, it could be a peaceful process, where all votes are reasonably counted, allowing those precious electors to be distributed based on a fair fight. The anxiety we’re feeling now could turn out to be a lot of fretting followed by nothing much, a political version of Y2K.Or not.

For Mr. Trump, the meeting was a face-to-face lifeline call. When he returned to Washington, he couldn’t stop talking about troop withdrawals, starting with Afghanistan. During his campaign, he had frequently mentioned his desire to bring home troops from these “endless wars.”

“were it Obama or Bush, or whatever, they’d meet Billy Graham’s grandson and they’d be like ‘Oh that’s interesting,’ and take it to heart, but then they’d go and they’d at least try to validate it with the policymakers, or their military experts. But no, with him, it’s like improv. So, he gets this stray electron and he goes, ‘OK, this is the ground truth.’ ”

Senior leadership of the U.S. government went into a panic. Capitol Hill, too. John Bolton, who was still the national security adviser then, and Virginia Boney, then the legislative affairs director of the National Security Council, hit the phones, calling more than a dozen senators from both parties.

“Is there any way we can reverse this?” he pleaded. “What can we do?”

Mr. Kelly was almost done cleaning out his office. He, too, had had enough. He and Mr. Trump had been at each other every day for months. Later, he told The Washington Examiner, “I said, whatever you do — and we were still in the process of trying to find someone to take my place — I said whatever you do, don’t hire a ‘yes man,’ someone who won’t tell you the truth — don’t do that.”

“I think the biggest shock he had — ’cause his assumption was the generals, ‘my generals,’ as he used to say and it used to make us cringe — was this issue of, I think, he just assumed that generals would be completely loyal to the kaiser,”

In February 2019, William Barr arrived as attorney general, having auditioned for the job with a 19-page memo arguing in various and creative ways that the president’s powers should be exercised nearly without limits and his actions stand virtually beyond review.

“President Trump serves the American people by keeping his promises and taking action where the typical politician would provide hollow words,” she said. “The president wants capable public servants in his administration who will enact his America First agenda and are faithful to the Constitution — these principles are not mutually exclusive. President Trump is delivering on his promise to make Washington accountable again to the citizens it’s meant to serve and will always fight for what is best for the American people.”

To replace Mr. Coats, Trump selected Representative John Ratcliffe of Texas, a small-town mayor-turned-congressman with no meaningful experience in intelligence — who quickly withdrew from consideration after news reports questioned his qualifications; he lacked support among key Republican senators as well.

There are many scenarios that might unfold from here, nearly all of them entailing weeks or even months of conflict, and giving an advantage to the person who already runs the U.S. government.

“sends letters constantly now, berating, asking for the sun, moon, stars, the entire Russia investigation, and then either going on the morning talk shows or calling the attorney general whenever he doesn’t get precisely what he wants.” The urgency, two F.B.I. officials said, ratcheted up after Mr. Trump was told three weeks ago that he wouldn’t get the “deliverables” he wanted before the election of incriminating evidence about those who investigated and prosecuted his former national security adviser, Michael Flynn.

The speculation is that they could both be fired immediately after the election, when Mr. Trump will want to show the cost paid for insufficient loyalty and to demonstrate that he remains in charge.

Nov. 4 will be a day, said one of the former senior intelligence officials, “when he’ll want to match word with deed.” Key officials in several parts of the government told me how they thought the progression from the 3rd to the 4th might go down.

A group could just directly attack a polling place, injuring poll workers of both parties, and creating a powerful visual — an American polling place in flames, like the ballot box in Massachusetts that was burned earlier this week — that would immediately circle the globe.

Would that mean that Mr. Trump caused any such planned activities or improvisations? No, not directly. He’s in an ongoing conversation — one to many, in a twisted e pluribus unum — with a vast population, which is in turn in conversations — many to many — among themselves.

“stand back and stand by” instructions? Is Mr. Trump telling his most fervent supporters specifically what to do? No. But security officials are terrified by the dynamics of this volatile conversation.

Conservative media could then say the election was being stolen, summoning others to activate, maybe violently. This is the place where cybersecurity experts are on the lookout for foreign actors to amplify polling location incidents many times over, with bots and algorithms and stories written overseas that slip into the U.S. digital diet.

Those groups are less structured, more like an “ideology or movement,” as Mr. Wray described them in his September testimony. But, as a senior official told me, the numbers on the left are vast.

That army Trump can direct in the difficult days ahead and take with him, wherever he goes. He may activate it. He may bargain with it, depending on how the electoral chips fall. It’s his insurance policy.

Inside the Biden campaign they are calling this “too big to rig.”

Races tend to tighten at the end, but the question is not so much the difference between the candidates’ vote totals, or projections of them, as it is what Mr. Trump can get his supporters to believe. Mr. Trump might fairly state, at this point, that he can get a significant slice of his base to believe anything.

There were enormous efforts to do so, largely but not exclusively by the Russians, in 2016, when election systems in every state were targeted.

The lie easily outruns truth — and the best “disinformation,” goes a longtime C.I.A. rule, “is actually truthful.” It all blends together. “Then the president then substantiates it, gives it credence, gives it authority from the highest office,” says the senior government official.

Mr. Trump will claim some kind of victory on Nov. 4, even if it’s a victory he claims was hijacked by fraud — just as he falsely claimed that Hillary Clinton’s three million-vote lead in the popular vote was the result of millions of votes from unauthorized immigrants.

In the final few weeks of the campaign, and during Mr. Trump’s illness, he’s done two things that seem contradictory: seeking votes from anyone who might still be swayed and consolidating and activating his army of most ardent followers.

The F.B.I. has been under siege since this past summer, according to a senior official who spoke on the condition of anonymity. “The White House is using friendly members of Congress to try to get at certain information under the guise of quote-unquote, oversight, but really to get politically helpful information before the election,”

“They’re the reason he took off the damned mask when he got to the White House” from Walter Reed, the official said. “Those people eat that up, where any reasonable, rational person would be horrified.

You ask it to be refilmed, and you take off your mask, which, in my mind, has become a signal to his core base of supporters that are willing to put themselves at risk and danger to show loyalty to him.”

Not since Ronald Reagan’s 1984 run had the state gone for the GOP nominee.

Republican Gov. Scott Walker, after all, had a lock on the state for years, and proved that the GOP could prevail there with the right mix of muscle, moxie and money.

His message to white, working-class voters plainly resonated. Clinton, notably, never visited the state as the nominee. Black voters’ enthusiasm for the Democratic nominee sank through the basement.

“But Wisconsin!” was only second to “But her emails!” in the annoying outbursts political reporters have been using as shorthand for the last four years.

Heading into 2020, Democrats knew they needed to offset the Republican suburban counties northwest of Milwaukee, but not by much. Trump in 2016 underperformed Mitt Romney’s numbers in those suburbs by 7 percentage points.

Biden appears on better footing than Clinton — in no small part due to his running mate Kamala Harris whose historic run is expected to energize Black voters.

Clinton at this point four years ago was up 6.5 percentage points, according to the Real Clear Politics polling averages. Biden is up 6.4 percentage points in the same meta-analysis. A Washington Post/ ABC News poll released yesterday suggested Biden’s lead to be an actual 17 percentage points.

Very, very few political pros believe this to be the case, citing the fact no other polls show it to be that much of a runaway for the former VP. The most plausible reason Republicans aren’t despondent about Wisconsin comes down to who is expected to show up: While Democrats have almost doubled their early voting numbers from 2016, Republicans are up four-fold.

That year, they had a three-point increase in their support of Obama over 2008. But, according to one study, Black voter participation in Wisconsin fell 20 percent between 2012 and 2016.

In August, police responding to reports of a domestic incident shot Jacob Blake, a Black man, in the back four times, leaving him paralyzed. Deep unrest followed in Kenosha, about 45 minutes south of Milwaukee. Protestors took to the streets, demanding justice for Blake.

Both Trump and Biden visited the state after the shooting, giving Black voters a clear view of what their choices were come November. Trump stood with the police, who say they were responding to a call about someone with an outstanding arrest warrant and, they say, had a knife. Biden called for compassion and police reform.

“Everybody says your vote is your voice, so I feel like if you don’t vote, you are comfortable being silenced.”

Mr. Trump has repeatedly tried to pressure Republican state legislators and elections officials — who have the most influence over declaring the formal winner and allocating electoral votes — to deny victory to President-elect Joseph R. Biden Jr. They have largely resisted him.

The 17 states behind the amicus brief represent a majority of the 25 Republican attorneys general across the country, and include Alabama, Florida, Kansas, Missouri, Louisiana and South Dakota. Notably, the two Republican attorneys general in the battleground states that Mr. Trump lost — Arizona and Georgia — are not part of the brief.

Senator John Cornyn, a Texas Republican and former attorney general of the state, seemed baffled by the legal maneuver, calling it “extraordinary” and “unprecedented.”“I’ve never seen something like this, so I don’t know what the Supreme Court’s going to do,” he said in Washington on Wednesday.

MacWilliams studies authoritarianism — not actual dictators, but rather a psychological profile of individual voters that is characterized by a desire for order and a fear of outsiders.

He polled a large sample of likely voters, looking for correlations between support for Trump and views that align with authoritarianism.

Authoritarians are thought to express much deeper fears than the rest of the electorate, to seek the imposition of order where they perceive dangerous change, and to desire a strong leader who will defeat those fears with force. They would thus seek a candidate who promised these things. And the extreme nature of authoritarians' fears, and of their desire to challenge threats with force, would lead them toward a candidate whose temperament was totally unlike anything we usually see in American politics — and whose policies went far beyond the acceptable norms.

He realized that he and a fellow political scientist, the University of North Carolina's Jonathan Weiler, had essentially predicted Trump's rise back in 2009, when they discovered something that would turn out to be far more significant than they then realized.

That year, Hetherington and Weiler published a book about the effects of authoritarianism on American politics. Through a series of experiments and careful data analysis, they had come to a surprising conclusion: Much of the polarization dividing American politics was fueled not just by gerrymandering or money in politics or the other oft-cited variables, but by an unnoticed but surprisingly large electoral group — authoritarians.

This trend had been accelerated in recent years by demographic and economic changes such as immigration, which "activated" authoritarian tendencies, leading many Americans to seek out a strongman leader who would preserve a status quo they feel is under threat and impose order on a world they perceive as increasingly alien.

What he found was astonishing: Not only did authoritarianism correlate, but it seemed to predict support for Trump more reliably than virtually any other indicator

According to Stenner's theory, there is a certain subset of people who hold latent authoritarian tendencies. These tendencies can be triggered or "activated" by the perception of physical threats or by destabilizing social change, leading those individuals to desire policies and leaders that we might more colloquially call authoritarian

What we found is a phenomenon that explains, with remarkable clarity, the rise of Donald Trump — but that is also much larger than him, shedding new light on some of the biggest political stories of the past decade. Trump, it turns out, is just the symptom. The rise of American authoritarianism is transforming the Republican Party and the dynamics of national politics, with profound consequences likely to extend well beyond this election.

a small but respected niche of academic research has been laboring over a question, part political science and part psychology, that had captivated political scientists since the rise of the Nazis.

How do people come to adopt, in such large numbers and so rapidly, extreme political views that seem to coincide with fear of minorities and with the desire for a strongman leader?

They believe that authoritarians aren't "activated" — they've always held their authoritarian preferences — but that they only come to express those preferences once they feel threatened by social change or some kind of threat from outsiders.

a button is pushed that says, "In case of moral threat, lock down the borders, kick out those who are different, and punish those who are morally deviant."

Authoritarians prioritize social order and hierarchies, which bring a sense of control to a chaotic world. Challenges to that order — diversity, influx of outsiders, breakdown of the old order — are experienced as personally threatening because they risk upending the status quo order they equate with basic security.

. The country is becoming more diverse, which means that many white Americans are confronting race in a way they have never had to before.

If you were to read every word these theorists ever wrote on authoritarians, and then try to design a hypothetical candidate to match their predictions of what would appeal to authoritarian voters, the result would look a lot like Donald Trump.

But political scientists say this theory explains much more than just Donald Trump, placing him within larger trends in American politics: polarization, the rightward shift of the Republican Party, and the rise within that party of a dissident faction challenging GOP orthodoxies and upending American politics. More than that, authoritarianism reveals the connections between several seemingly disparate stories about American politics. And it suggest that a combination of demographic, economic, and political forces, by awakening this authoritarian class of voters that has coalesced around Trump, have created what is essentially a new political party within the GOP — a phenomenon that broke into public view with the 2016 election but will persist long after it has ended.

This study of authoritarianism began shortly after World War II, as political scientists and psychologists in the US and Europe tried to figure out how the Nazis had managed to win such wide public support for such an extreme and hateful ideology.

Feldman, a professor at SUNY Stonybrook, believed authoritarianism could be an important factor in American politics in ways that had nothing to do with fascism, but that it could only reliably be measured by unlinking it from specific political preferences.

Feldman developed what has since become widely accepted as the definitive measurement of authoritarianism: four simple questions that appear to ask about parenting but are in fact designed to reveal how highly the respondent values hierarchy, order, and conformity over other values. Please tell me which one you think is more important for a child to have: independence or respect for elders? Please tell me which one you think is more important for a child to have: obedience or self-reliance? Please tell me which one you think is more important for a child to have: to be considerate or to be well-behaved? Please tell me which one you think is more important for a child to have: curiosity or good manners?

Trump's rise. And, like them, I wanted to find out what the rise of authoritarian politics meant for American politics. Was Trump just the start of something bigger?

In the 1960s, the Republican Party had reinvented itself as the party of law, order, and traditional values — a position that naturally appealed to order- and tradition-focused authoritarians. Over the decades that followed, authoritarians increasingly gravitated toward the GOP, where their concentration gave them more and more influence over time.

Stenner argued that many authoritarians might be latent — that they might not necessarily support authoritarian leaders or policies until their authoritarianism had been "activated."

This activation could come from feeling threatened by social changes such as evolving social norms or increasing diversity, or any other change that they believe will profoundly alter the social order they want to protect. In response, previously more moderate individuals would come to support leaders and policies we might now call Trump-esque.

Ever since, political scientists who study authoritarianism have accumulated a wealth of data on who exhibits those tendencies and on how they align with everything from demographic profiles to policy preferences.

People do not support extreme policies and strongman leaders just out of an affirmative desire for authoritarianism, but rather as a response to experiencing certain kinds of threats.

when non-authoritarians feel sufficiently scared, they also start to behave, politically, like authoritarians.

a distinction between physical threats such as terrorism, which could lead non-authoritarians to behave like authoritarians, and more abstract social threats, such as eroding social norms or demographic changes, which do not have that effect. That distinction would turn out to be important, but it also meant that in times when many Americans perceived imminent physical threats, the population of authoritarians could seem to swell rapidly.

Together, those three insights added up to one terrifying theory: that if social change and physical threats coincided at the same time, it could awaken a potentially enormous population of American authoritarians, who would demand a strongman leader and the extreme policies necessary, in their view, to meet the rising threats.

This theory would seem to predict the rise of an American political constituency that looks an awful lot like the support base that has emerged, seemingly out of nowhere, to propel Donald Trump from sideshow loser of the 2012 GOP primary to runaway frontrunner in 2016.

If this rise in American authoritarianism is so powerful as to drive Trump's ascent, then how else might it be shaping American politics? And what effect could it have even after the 2016 race has ended?

The second set asked standard election-season questions on preferred candidates and party affiliation. The third set tested voters' fears of a series of physical threats, ranging from ISIS and Russia to viruses and car accidents. The fourth set tested policy preferences, in an attempt to see how authoritarianism might lead voters to support particular policies.

If the research were right, then we'd expect people who scored highly on authoritarianism to express outsize fear of "outsider" threats such as ISIS or foreign governments versus other threats. We also expected that non-authoritarians who expressed high levels of fear would be more likely to support Trump. This would speak to physical fears as triggering a kind of authoritarian upsurge, which would in turn lead to Trump support.

We asked people to rate a series of social changes — both actual and hypothetical — on a scale of "very good" to "very bad" for the country. These included same-sex marriage, a path to citizenship for undocumented immigrants living in the United States, and American Muslims building more mosques in US cities.

If the theory about social change provoking stress amongst authoritarians turned out to be correct, then authoritarians would be more likely to rate the changes as bad for the country.

Authoritarianism was the best single predictor of support for Trump, although having a high school education also came close.

people in this 44 percent only vote or otherwise act as authoritarians once triggered by some perceived threat, physical or social. But that latency is part of how, over the past few decades, authoritarians have quietly become a powerful political constituency without anyone realizing it.

More than 65 percent of people who scored highest on the authoritarianism questions were GOP voters. More than 55 percent of surveyed Republicans scored as "high" or "very high" authoritarians.

People whose scores were most non-authoritarian — meaning they always chose the non-authoritarian parenting answer — were almost 75 percent Democrats.

this is not a story about how Republicans are from Mars and Democrats are from Venus. It's a story of polarization that increased over time.

Democrats, by contrast, have positioned themselves as the party of civil rights, equality, and social progress — in other words, as the party of social change, a position that not only fails to attract but actively repels change-averse authoritarians.

Over the next several decades, Hetherington explained to me, this led authoritarians to naturally "sort" themselves into the Republican Party.

It is not for nothing that our poll found that more than half of the Republican respondents score as authoritarian.

Our results found that 44 percent of white respondents nationwide scored as "high" or "very high" authoritarians, with 19 percent as "very high." That's actually not unusual, and lines up with previous national surveys that found that the authoritarian disposition is far from rare1.

among Republicans, very high/high authoritarianism is very predictive of support for Trump." Trump has 42 percent support among Republicans but, according to our survey, a full 52 percent support among very high authoritarians.

Trump support was much lower among Republicans who scored low on authoritarianism: only 38 percent.

But that's still awfully high. So what could explain Trump's support among non-authoritarians? I suspected the answer might lie at least partly in Hetherington and Suhay's research on how fear affects non-authoritarian voters,

Authoritarians, we found in our survey, tend to most fear threats that come from abroad, such as ISIS or Russia or Iran. These are threats, the researchers point out, to which people can put a face; a scary terrorist or an Iranian ayatollah. Non-authoritarians were much less afraid of those threats. For instance, 73 percent of very high-scoring authoritarians believed that terrorist organizations like ISIS posed a "very high risk" to them, but only 45 percent of very low-scoring authoritarians did. Domestic threats like car accidents, by contrast, were much less frightening to authoritarians.

A subgroup of non-authoritarians were very afraid of threats like Iran or ISIS. And the more fear of these threats they expressed, the more likely they were to support Trump.

that non-authoritarians who are sufficiently frightened of physical threats such as terrorism could essentially be scared into acting like authoritarians.

That's important, because for years now, Republican politicians and Republican-leaning media such as Fox News have been telling viewers nonstop that the world is a terrifying place and that President Obama isn't doing enough to keep Americans safe.

Republican voters have been continually exposed to messages warning of physical dangers. As the perception of physical threat has risen, this fear appears to have led a number of non-authoritarians to vote like authoritarians — to support Trump.

But when establishment candidates such as Marco Rubio try to match Trump's rhetoric on ISIS or on American Muslims, they may end up deepening the fear that can only lead voters back to Trump.

pushing authoritarians to these extremes: the threat of social change.

This could come in the form of evolving social norms, such as the erosion of traditional gender roles or evolving standards in how to discuss sexual orientation. It could come in the form of rising diversity, whether that means demographic changes from immigration or merely changes in the colors of the faces on TV. Or it could be any changes, political or economic, that disrupt social hierarchies.

What these changes have in common is that, to authoritarians, they threaten to take away the status quo as they know it — familiar, orderly, secure — and replace it with something that feels scary because it is different and destabilizing, but also sometimes because it upends their own place in societ

Authoritarians were significantly more likely to rate almost all of the actual and hypothetical social issues we asked about as "bad" or "very bad" for the country.

an astonishing 44 percent of authoritarians believe same-sex marriage is harmful to the country. Twenty-eight percent rated same-sex marriage as "very bad" for America, and another 16 percent said that it’s "bad." Only about 35 percent of high-scoring authoritarians said same-sex marriage was "good" or "very good" for the country.

Non-authoritarians tended to rate same-sex marriage as "good" or "very good" for the country.

The fact that authoritarians and non-authoritarians split over something as seemingly personal and nonthreatening as same-sex marriage is crucial for understanding how authoritarianism can be triggered by even a social change as minor as expanding marriage rights.

A whopping 56.5 percent of very high-scoring authoritarians said it was either "bad" or "very bad" for the country when Muslims built more mosques. Only 14 percent of that group said more mosques would be "good" or "very good."

The literature on authoritarianism suggests this is not just simple Islamophobia, but rather reflects a broader phenomenon wherein authoritarians feel threatened by people they identify as "outsiders" and by the possibility of changes to the status quo makeup of their communities.

This would help explain why authoritarians seem so prone to reject not just one specific kind of outsider or social change, such as Muslims or same-sex couples or Hispanic migrants, but rather to reject all of them.

Working-class communities have come under tremendous economic strain since the recession. And white people are also facing the loss of the privileged position that they previously were able to take for granted. Whites are now projected to become a minority group over the next few decades, owing to migration and other factors. The president is a black man, and nonwhite faces are growing more common in popular culture. Nonwhite groups are raising increasingly prominent political demands, and often those demands coincide with issues such as policing that also speak to authoritarian concerns.

the loss of working-class jobs in this country is a real and important issue, no matter how one feels about fading white privilege — but that is not the point.

mportant political phenomenon we identify as right-wing populism, or white working-class populism, seems to line up, with almost astonishing precision, with the research on how authoritarianism is both caused and expressed.

It all depends, he said, on whether a particular group of people has been made into an outgroup or not — whether they had been identified as a dangerous other.

Since September 2001, some media outlets and politicians have painted Muslims as the other and as dangerous to America. Authoritarians, by nature, are more susceptible to these messages, and thus more likely to come to oppose the presence of mosques in their communities.

, it helps explain how Trump's supporters have come to so quickly embrace such extreme policies targeting these outgroups: mass deportation of millions of people, a ban on foreign Muslims visiting the US. When you think about those policy preferences as driven by authoritarianism, in which social threats are perceived as especially dangerous and as demanding extreme responses, rather than the sudden emergence of specific bigotries, this starts to make a lot more sense.

authoritarians are their own distinct constituency: effectively a new political party within the GOP.

Authoritarians generally and Trump voters specifically, we found, were highly likely to support five policies: Using military force over diplomacy against countries that threaten the United States Changing the Constitution to bar citizenship for children of illegal immigrants Imposing extra airport checks on passengers who appear to be of Middle Eastern descent in order to curb terrorism Requiring all citizens to carry a national ID card at all times to show to a police officer on request, to curb terrorism Allowing the federal government to scan all phone calls for calls to any number linked to terrorism

What these policies share in common is an outsize fear of threats, physical and social, and, more than that, a desire to meet those threats with severe government action — with policies that are authoritarian not just in style but in actuality

The real divide is over how far to go in responding. And the party establishment is simply unwilling to call for such explicitly authoritarian policies.

There was no clear correlation between authoritarianism and support for tax cuts for people making more than $250,000 per year, for example. And the same was true of support for international trade agreements.

he way he reduces everything to black-and-white extremes of strong versus weak, greatest versus worst. His simple, direct promises that he can solve problems that other politicians are too weak to manage.

That's why it's a benefit rather than a liability for Trump when he says Mexicans are rapists or speaks gleefully of massacring Muslims with pig-blood-tainted bullets: He is sending a signal to his authoritarian supporters that he won't let "political correctness" hold him back from attacking the outgroups they fear.

Rather, it was that authoritarians, as a growing presence in the GOP, are a real constituency that exists independently of Trump — and will persist as a force in American politics regardless of the fate of his candidacy.

If Trump loses the election, that will not remove the threats and social changes that trigger the "action side" of authoritarianism. The authoritarians will still be there. They will still look for candidates who will give them the strong, punitive leadership they desire.

ust look at where the Tea Party has left the Republican establishment. The Tea Party delivered the House to the GOP in 2010, but ultimately left the party in an unresolved civil war. Tea Party candidates have challenged moderates and centrists, leaving the GOP caucus divided and chaotic.

Authoritarians may be a slight majority within the GOP, and thus able to force their will within the party, but they are too few and their views too unpopular to win a national election on their own.

the rise of authoritarianism as a force within American politics means we may now have a de facto three-party system: the Democrats, the GOP establishment, and the GOP authoritarians.

It will become more difficult for Republican candidates to win the presidency because the candidates who can win the nomination by appealing to authoritarian primary voters will struggle to court mainstream voters in the general election. They will have less trouble with local and congressional elections, but that might just mean more legislative gridlock as the GOP caucus struggles to balance the demands of authoritarian and mainstream legislators. The authoritarian base will drag the party further to the right on social issues, and will simultaneously erode support for traditionally conservative economic policies.

Norms around gender, sexuality, and race will continue evolving. Movements like Black Lives Matter will continue chipping away at the country's legacy of institutionalized discrimination, pursuing the kind of social change and reordering of society that authoritarians find so threatening.

The chaos in the Middle East, which allows groups like ISIS to flourish and sends millions of refugees spilling into other countries, shows no sign of improving. Longer term, if current demographic trends continue, white Americans will cease to be a majority over the coming decades.

t will be a GOP that continues to perform well in congressional and local elections, but whose divisions leave the party caucus divided to the point of barely functioning, and perhaps eventually unable to win the White House.

For decades, the Republican Party has been winning over authoritarians by implicitly promising to stand firm against the tide of social change, and to be the party of force and power rather than the party of negotiation and compromise. But now it may be discovering that its strategy has worked too well — and threatens to tear the party apart.

the position of white Evangelicals, in particular, has totally transformed on the matter. Between 2011 and 2016, white Evangelicals went from the American demographic least likely to agree that “an elected official who commits an immoral act in their personal life can still behave ethically and fulfill their duties” to the group most likely to agree with that statement.

As a wise retired federal judge once told me, when someone says “Yes, but” the only words that matter come after the “but.” The “yes” is appeasement; the “but” is belief.

We live in a time of partisan animosity so great that an October NBC News poll found that 80 percent of Democrats and Republicans “believe the political opposition poses a threat that, if not stopped, will destroy America as we know it.”

In those circumstances, the quest for character becomes a form of luxury belief. It’s what you cling to in safer, more secure times

That same poll found that “two-thirds of reliable Democratic and Republican voters say they’d still support their party’s political candidate, even if that person had a moral failing that wasn’t consistent with their own values.”

This transformation made Donald Trump’s presidency possible, and it is a grave mistake. Good character should never be optional in leaders, and strength of character is more important in difficult times.

Competence is quite often a key by-product of good character. Indeed, I’d say it’s an aspect of good character.

But it’s now wrong to simply assert that truth as self-evident. Millions of Americans disagree

Why are they wrong? The evidence is everywhere, if you know where to look. While bad policy can be extraordinarily consequential, our current political dysfunctions are mainly due to bad character.

Negative partisanship is now a central fact of American politics. Millions of Americans now support their political party not because they love its politicians or its policies, but because they hate and fear the other side.

Consider the challenge of mutual hatred

partisan Americans consistently misjudge their ideological adversaries. They rate them as far more extreme than they really are.

How many politicians raise money and gain power by stoking as much hatred as possible? How often are they exaggerating the threat of their opponents? How often are they engaged in outright lies?

Or consider the distrust of American institutions.

This is the political assertion that meets with perhaps the ultimate “yes, but” response. “Yes, but so does policy.” “Yes, but no one is perfect.” “Yes, but we need to fight fire with fire.”

the best lawyers, the best doctors, the best military officers, and the best corporate leaders combine a set of skills that include not just self-discipline and an inquisitive mind, but also an innate curiosity and openness that allows them to understand and absorb new information and competing ideas.

The instant a person becomes so convinced of their own excellence that they lose those qualities is the instant that their hubris can destroy their competence.

American institutions lose trust not just because they’re corrupt (an obvious sign of bad character), but also because they’re sloppy or inefficient, or just can’t accomplish the most necessary tasks.

Or think of the challenges to democracy itself.

The conspiracies that culminated in the violent attempted coup on January 6 were entirely the product of one of the most colossal character failures in the history of the United States. Donald Trump’s malicious lies and will to power were the obvious first causes of the riot

consider the cascading character failures that led to the attack.

Most of Trump’s staff folded

when they crack, all their policy ideas are but dust in the wind. On January 6, for example, America was only one more crack away—a Mike Pence “yes” to Trump’s scheme—from the worst constitutional crisis since 1861.

Almost the entire right-wing infotainment industry gave in

What ultimately stopped Trump? Character. It was the character of judges—including Federalist Society judges—who turned back dozens of election challenges

It was the character of members of Congress, including both Democratic and Republican leaders, who decided they would return to the House chamber and finish counting the electoral votes that would secure Joe Biden’s lawful electoral victory.

While I disagreed with Pence on countless occasions before January 6, he was at the eye of that hurricane, and he stood firm.

Bad character is a long-term threat. The smoking analogy is valid. But January 6 taught me that bad character can function as an immediate threat as well. Like a gun to the head.

Most of the Republicans in Congress followed suit

“The modern Republican Party is essentially a hostage crisis in which each wing could kill the party by bolting the coalition but only one wing is willing to do it and both sides know it.”

The MAGA wing will stay home if its demands aren’t met. The establishment, by contrast, dutifully marches to the polls, no matter who has the “R” by their name.

This has to change. It is not the case, for example, that a Republican Senate candidate is running “only” to be a vote, and not a leader. There is no such thing as “only” voting.

When you distrust or despise your enemy enough, character is often the first casualty of political combat. But if we kill character, we risk killing our country. We cannot survive the complete corruption of our political class.

To seek to do it on the basis that Labour can again be a national party in geographical and class terms, winning working- and middle class support alike, deserves that description even more.

It challenges the view that the dominant progressive parties of the industrial era must accommodate themselves to operating within a more pluralist party system and amid the looser class loyalties of the new millennium

it says that such segmentation is neither inevitable nor even desirable, providing that the party remains a broad church and – crucially – avoids foolish accommodations with the activist left.

it is certainly not New Labour 2.0 either, and calling it so does not make it so. Indeed the Starmer strategy of focusing on working-class support is at odds with one of New Labour’s most central tenets.

Tony Blair and Gordon Brown believed that Labour would prosper in the modern era only by reducing its dependence on working-class voters and the unions and by becoming a middle-class, progressive party, like the US Democrats.

This is actually quite a traditional, and almost old-fashioned, view of Labour’s role. Starmer’s aspiration to make Labour a national and essentially social democratic party again is one that Clement Attlee or Harold Wilson would have understood.

Biden’s approval ratings are stubbornly low. In a recent ABC poll, only 30 percent of voters approve of his handling of the economy and only 23 percent approve of his handling of immigration at the southern border. Roughly three-quarters of American voters say that Biden, at 80, is too old to seek a second term. There have been a string of polls showing that large majorities in his own party don’t want him to run again. In one survey from 2022, an astounding 94 percent of Democrats under 30 said they wanted a different nominee.

I thought Biden’s favorability ratings would climb as economic growth has remained relatively strong and as inflation has come down. But it just hasn’t happened.

don’t find this passive fatalism compelling. The party’s elected officials are basically urging rank-and-file Democrats not to be anxious about a situation that is genuinely anxiety-inducing. Last month Gov. Phil Murphy of New Jersey told The Times, “This is only a matter of time until the broad party, and broadly speaking, Americans, converge with the opinions of folks like myself.” Really? Surely if there’s a lesson we should have learned from the last decade, it’s that we should all be listening harder to what the electorate is trying to say.

The Republicans who portray him as a doddering old man based on highly selective YouTube clips are wrong. In my interviews with him, he’s like a pitcher who used to throw 94 miles an hour who now throws 87. He is clearly still an effective pitcher.

People who work with him allow that he does tire more easily, but they say that he is very much the dynamic force driving this administration

In fact, I’ve noticed some improvements in his communication style as he’s aged. He used to try to cram every fact in the known universe into every answer; now he’s more disciplined. When he’s describing some national problem, he is more crisp and focused than he used to be, clearer on what is the essential point here — more confidence-inspiring, not less.

What about four or five years from now, at the end of a second term? Will he still be competent enough to lead? Biden is fit, does not smoke or drink alcohol, exercises frequently and has no serious health conditions, according to the White House

A study in The Journal on Active Aging of Biden’s and Trump’s health records from before the 2020 elections found that both men could qualify as “super-agers” — the demographic that maintains physical and mental functioning beyond age 80.

if the president I see in interviews and at speeches is out campaigning next year against an overweight man roughly his own age, then my guess is that public anxieties on this front will diminish.

To me, age isn’t Biden’s key weakness. Inflation is. I agree with what Michael Tomasky wrote in The New Republic: Biden’s domestic legislative accomplishments are as impressive as any other president’s in my adult life. Exactly as he should have, he has directed huge amounts of resources to the people and the places that have been left behind by the global economy. By one Treasury Department estimate, more than 80 percent of the investments sparked by the Inflation Reduction Act are going to counties with below-average college graduation rates and nearly 90 percent are being made in counties with below-average wages. That was the medicine a riven country needed.

it is also true that Biden’s team overlearned the lessons of the Obama years. If Barack Obama didn’t stimulate the economy enough during the Great Recession, Biden stimulated it too much, contributing to inflation and the sticker shock people are feeling.

Anger about inflation is ripping across the world, and has no doubt helped lower the approval ratings of leaders left, right and center. Biden’s 40 percent approval rating may look bad, but in Canada, Justin Trudeau’s approval rating is 36; in Germany Olaf Scholz is at 29; in Britain Rishi Sunak is at 28; in France Emmanuel Macron is at 23; and in Japan Fumio Kishida is also at 23. This is a global phenomenon

“Inflation is the reason Biden could not deliver on his core promise to return the country to normal and the main reason his poll numbers are bad.”

voters are looking back and retroactively elevating their opinion of Trump’s presidency. When he left office only 38 percent of Americans approved of his performance as president. Today, 48 percent do, his high-water mark.

Bitterness, cynicism and distrust pervade the body politic. People perceive reality through negative lenses, seeing everything as much worse than it is. At 3.8 percent, America’s unemployment rate is objectively low, but 57 percent of voters say that the unemployment rate is “not so good” or “poor.”

The nation’s bitter state of mind is a self-perpetuating negativity machine. Younger people feel dismissed; the older generations are hogging power. Faith in major institutions is nearing record lows. The country is hungry for some kind of change but is unclear about what that might look like. As the incumbent, Biden will be tasked with trying to tell a good news story of American revival, which is just a tough story to sell in this environment. And Biden is not out there selling it convincingly.

The bracing reality is that Trump’s cynicism and fury match the national mood more than Biden’s faithful optimism.

“They seem hell bent on nominating the one Democrat who would lose to Donald Trump,” Karl Rove told me recently. “They’ve got a lot of talent on their side, let’s not kid ourselves,” he continued, pointing to younger Democrats like Gretchen Whitmer, Mitch Landrieu, Gavin Newsom and Cory Booker.

A lot of the dump-Biden conversations are based on a false premise: that the Democratic Party brand and agenda are somehow strong and popular enough that any number of younger candidates could win the White House in 2024, and that if Biden were just to retire, all sorts of obstacles and troubles would go with him.

But Biden is not the sole or even primary problem here. To the extent that these things are separable, it’s the Democratic Party as a whole that’s ailing. The generic congressional ballot is a broad measure of the strength of the congressional party. Democrats are now behind. According to a Morning Consult poll, Americans rate the Democratic Party as a whole as the more ideologically extreme party by a nine-point margin.

When pollsters ask which party is best positioned to address your concerns, here too, Democrats are trailing. In a recent Gallup poll 53 percent of Americans say Republicans will do a better job of keeping America prosperous over the short term while only 39 percent thought that of the Democrats.

Fifty-seven percent of Americans said that the Republicans would do a better job keeping America safe, while only 35 percent favor the Democrats. These are historically high Republican advantages.

Here are the hard, unpleasant facts: The Republicans have a likely nominee who is facing 91 charges. The Republicans in Congress are so controlled by a group of performative narcissists, the whole House has been reduced to chaos. And yet they are still leading the Democrats in these sorts of polling measures

There is no other potential nominee who is so credibly steeped in knowing what life is like for working- and middle-class people, just as there was no other potential nominee in 2020. After watching him for a quarter-century, I think he is genuinely most comfortable when he is hanging around the kinds of people he grew up with. He doesn’t send out any off-putting faculty lounge vibes. On cultural matters he is most defined by what he doesn’t do — needlessly offend people with overly academic verbiage and virtue signaling. That is why I worry when he talks too stridently about people on the right, when he name-calls and denounces wide swaths of people as MAGA.

Over the last half-century, the Democrats have become increasingly the party of the well-educated metropolitan class.

This is about something deeper than Joe Biden’s age. More and more people are telling pollsters that the Republicans, not the Democrats, care about people like me.

But Democrats are losing something arguably more important than a reliable base of supporters. The party is in danger of letting go of an ethos, a heritage, a tradition. The working-class heart and soul the Democrats cultivated through the Roosevelt, Truman and Kennedy years rooted Democratic progressivism in a set of values that emphasized hard work, neighborhood, faith, family and flag. Being connected to Americans’ everyday experiences kept the party pinioned to the mainstream.

. It grew prone to taking flights of fancy in policy and rhetoric, be it Medicare for All or “defund the police,” going to places where middle-of-the-road voters would not follow. It became more vulnerable to the insular outlooks of its most privileged and educated members.

And that is the fact I keep returning to. Biden is not what ails the party. As things stand, he is the Democrats’ best shot at curing what ails the party.

today, the party is bleeding working-class voters of all varieties. As John B. Judis and Ruy Teixeira point out in their forthcoming book, “Where Have All the Democrats Gone?” Democrats have been losing ground among Hispanics for the last few years. In 2012, Barack Obama carried nonwhite voters without a college degree by a 67-point margin. In 2020, Biden carried this group with a 48-point margin. Today, the Democratic ticket leads among this group by a paltry 16 points

These cultural and spiritual roots give him not just a style but a governing agenda. He has used the presidency to direct resources to those who live in the parts of the country where wages are lower, where education levels are lower, where opportunities are skimpier. Biden’s ethos harks back to the ethos of the New Deal Democratic Party, but it also harks forward to something — to a form of center-left politics that is culturally moderate and economically aggressive

Something almost spiritual is at play here, not just about whether the Democrats can win in 2024, but who the Democrats are.

I also find myself arriving foursquare at the conclusion that rejecting the president now would be, in the first place, a mistake. He offers the most plausible route toward winning the working- and middle-class groups the Democrats need, the most plausible route toward building a broad-based majority party

But it would be worse than a mistake. It would be a renunciation of the living stream of people, ideas and values that flow at the living depths of the party, a stream that propelled its past glories and still points toward future ones.

In the Netherlands, the PVV surged to become the largest party among 18- to 34-year-olds, winning 17% of their vote against 7% previously. In Sweden’s 2022 ballot, 22% of the 18-21 cohort voted for the far-right Sweden Democrats, against 12% in 2018.

“I am not a racist because I voted for Wilders. It frustrates me that migrants receive more help from the government than Dutch people – but I’m not against Islam; I don’t want mosques closed. I just think we need to control immigration better.”

Koen, 19, a student in Amsterdam, echoed that view. “I still live with my parents – I can’t afford a room in Amsterdam,” he said. “I have to commute every day. Wilders wants to give housing to people who are from here – I don’t think that’s strange.”

Far-right parties are not the preferred option – or even second choice – for younger voters everywhere in Europe, analysts caution. The trend appears strongest in countries such as Austria, Germany, the Netherlands, Sweden and Denmark

In Spain, the ultra-conservative Vox party’s share of the under-35 vote soared from 22% in April 2019 to a record 34% that November, echoing its rollercoaster performance with the electorate as a whole. It fell back in July this year but still stands at 27%.

Issues such as housing, overcrowded classes and struggling hospitals were key to the youth vote, De Vries said. “Wilders may want ‘Dutch people first’ but he promises to fix these things,” she said. “The government parties imposed austerity.”

Zerka also identified economic insecurity as the most significant factor. “Young voters haven’t moved rightwards on migration, abortion, minority rights,” he said. “Far-right parties have convinced them that they offer a credible economic alternative.”

Other factors include some far-right parties “managing to position themselves as a ‘cool’ electoral option”, Zerka said. “They are increasingly offering younger voters equally young, often charismatic politicians – people who speak their language.”

Zerka also cites far-right parties’ social media skills: Spain’s Vox has a particularly slick operation, and Sławomir Mentzen, the 37-year-old leader of Poland’s ultra-liberal far-right Konfederacja (Confederation) party, has 800,000 followers on TikTok.

Jacob Davey, the head of policy and research at the Institute for Strategic Dialogue thinktank, identified the influence of a far- and ultra-right youth counterculture, typified by the far-right pan-European Generation Identity group, as an additional factor.

Even if “economic grievances, insecurities around housing, jobs, futures” may account for much of the youth vote, he said, “we’re seeing the growth to fruition of a concerted far- and extreme-right effort to reach and radicalise young people”.

finally, said De Vries, there was “simply, normalisation. For many of these young voters, far-right parties have been part of the political landscape their whole lives. They’ve grown up with them. There’s not the stigmatisation there once was.”

“My mother’s a nurse, and healthcare is not coping. Wilders campaigned on investing in healthcare and old people’s homes. When it comes to migration, people from a war country deserve a better life here but it shouldn’t be at the expense of Dutch people.”

Then came 2016. The overreading began once again. The old electoral college “blue wall” had become a “red wall,” and Trump had supposedly unlocked the key to lasting control. But, well, you know the rest.

Everyone keeps looking for the political Battle of Yorktown—that moment when your opponents lose once and for all and they march out slowly before you while the band plays “The World Turned Upside Down.”

Instead, in a closely-divided nation that’s characterized mainly by negative polarization and calcification, the better analogy is to trench warfare—grinding, bloody attrition, with gains often measured in yards rather than miles and true breakthroughs few and far between. 

Thus, the question after any given election isn’t so much, “Who is ascendant?” Rather, it’s “In which direction did the lines move?” 

often the more important cultural changes can be harder to discern

in this instance one of those more important changes was the blow to the malice theory of American politics. 

The malice theory is a core element of Trumpism, and it’s a natural temptation of negative polarization. Negative polarization (or negative partisanship), as I’ve written many times, is the term for politics that is fundamentally motivated by animosity for the other side more than affection to your own party’s leaders or ideas. 

Under the malice theory, the key to electoral victory is unlocking that anger. That means highlighting everything wrong with your opponents. That means hyping their alleged mortal threat to the Republic.

who should be kind to the “godless communist orcs” who are “trying to ruin this great country”? 

then persuasion is a waste of time. Defeating the enemy isn’t about persuading the enemy, but rather about mobilizing the righteous.

inspiring people is hard. Scaring them is easy—especially when the internet gives you constant access to the worst and weirdest voices on the other side. 

here’s where the malice theory collides with human nature. Most people aren’t content with simply thinking their opponents are terrible. They still want to see themselves as good. They want to see the world as “good versus evil,” not “lesser evil versus evil.” 

That’s why the argument that voters should always swallow deep moral objections to vote for the lesser evil are ultimately unsustainable

When confronted with relentless wrongdoing from your own partisans, one of two things happens—over time you’ll either redefine evil as good, or you’ll abandon evil for the good. 

The first response is core to much of the MAGA movement. It’s how someone goes from holding their nose and voting for Trump in 2016 to being the first bass boat in the boat parade in 2020. We all watched it happen.

The ultimate expression of this faction was represented by what’s been called the “Stop the Steal” slate of Republican candidates. These were the folks who were all-in, not just on Trump, but on some of the most transparently, incandescently absurd political conspiracies in modern American history. 

I don’t want to make the very mistake I identified at the start of this newsletter and overstate my case. Talk of a true MAGA “repudiation” is overblown

remember, the question isn’t whether anyone achieved ultimate victory or faced a final defeat. It’s in which direction the lines moved in our nation’s political trench warfare. And they most definitely moved back towards reason and our most basic moral norms. 

since politicians so often follow voters far more than they lead voters, it is ultimately up to us to demonstrate to them that the malice theory of American politics is truly a dead political end

The worst thing for American politics would be for the Trumpist narrative—that decency is for the weak—to prevai

If cruelty truly is the sole or best path to partisan victory, then the continued temptation to yield to our worst impulses would grow overwhelming. The temptation was already strong enough to distort and transform the political culture of the right simply based on Trump’s single, narrow win.

the opposite message seems to be true

Ever since Trump beat Hillary Clinton, the Trumpist GOP lost and kept losing. A movement that prioritized vicious political combat lost the House in the 2018 midterms, lost the presidency and the Senate in 2020, and has likely blown a virtually unlosable election in 2022, despite the fact that the country is struggling under the great weight of the worst crime and inflation in at least a generation.

It turns out that there’s some life left in decency yet. Even when times are hard, there are voters who are unwilling to call good evil and evil good

It turns out that it’s hard to escape the need to persuade and inspire, and that might be the best—and most important—consequence of a midterm election that gave neither party a mandate but reminded the Republicans that malice and lies can do far more political harm than good. 

Except Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses. He did not build enterprises the old-fashioned way—out of inspiration, perspiration, and a long slog in the free market fostering a new product, service, or process of production. Instead, he spent his 15 years raising debt in prodigious amounts on Wall Street so that Bain could purchase the pots and pans and castoffs of corporate America, leverage them to the hilt, gussy them up as reborn “roll-ups,” and then deliver them back to Wall Street for resale—the faster the better.

That is the modus operandi of the leveraged-buyout business, and in an honest free-market economy, there wouldn’t be much scope for it because it creates little of economic value. But we have a rigged system—a regime of crony capitalism—where the tax code heavily favors debt and capital gains, and the central bank purposefully enables rampant speculation by propping up the price of financial assets and battering down the cost of leveraged finance.

So the vast outpouring of LBOs in recent decades has been the consequence of bad policy, not the product of capitalist enterprise. I know this from 17 years of experience doing leveraged buyouts at one of the pioneering private-equity houses, Blackstone, and then my own firm. I know the pitfalls of private equity. The whole business was about maximizing debt, extracting cash, cutting head counts, skimping on capital spending, outsourcing production, and dressing up the deal for the earliest, highest-profit exit possible. Occasionally, we did invest in genuine growth companies, but without cheap debt and deep tax subsidies, most deals would not make economic sense.

In truth, LBOs are capitalism’s natural undertakers—vulture investors who feed on failing businesses. Due to bad policy, however, they have now become monsters of the financial midway that strip-mine cash from healthy businesses and recycle it mostly to the top 1 percent.

Accordingly, Bain’s returns on the overwhelming bulk of the deals—67 out of 77—were actually lower than what a passive S&P 500 indexer would have earned even without the risk of leverage or paying all the private-equity fees. Investor profits amounted to a prosaic 0.7X the original investment on these deals and, based on its average five-year holding period, the annual return would have computed to about 12 percent—well below the 17 percent average return on the S&P in this period.

having a trader’s facility for knowing when to hold ’em and when to fold ’em has virtually nothing to do with rectifying the massive fiscal hemorrhage and debt-burdened private economy that are the real issues before the American electorate

Indeed, the next president’s overriding task is restoring national solvency—an undertaking that will involve immense societywide pain, sacrifice, and denial and that will therefore require “fairness” as a defining principle. And that’s why heralding Romney’s record at Bain is so completely perverse. The record is actually all about the utter unfairness of windfall riches obtained under our anti-free market regime of bubble finance.

When Romney opened the doors to Bain Capital in 1984, the S&P 500 stood at 160. By the time he answered the call to duty in Salt Lake City in early 1999, it had gone parabolic and reached 1270. This meant that had a modern Rip Van Winkle bought the S&P 500 index and held it through the 15 years in question, the annual return (with dividends) would have been a spectacular 17 percent. Bain did considerably better, of course, but the reason wasn’t business acumen.

The secret was leverage, luck, inside baseball, and the peculiar asymmetrical dynamics of the leveraged gambling carried on by private-equity shops. LBO funds are invested as equity at the bottom of a company’s capital structure, which means that the lenders who provide 80 to 90 percent of the capital have no recourse to the private-equity sponsor if deals go bust. Accordingly, LBO funds can lose 1X (one times) their money on failed deals, but make 10X or even 50X on the occasional “home run.” During a period of rising markets, expanding valuation multiples, and abundant credit, the opportunity to “average up” the home runs with the 1X losses is considerable; it can generate a spectacular portfolio outcome.

The Wall Street Journal examined 77 significant deals completed during that period based on fundraising documents from Bain, and the results are a perfect illustration of bull-market asymmetry. Overall, Bain generated an impressive $2.5 billion in investor gains on $1.1 billion in investments. But 10 of Bain’s deals accounted for 75 percent of the investor profits.

The credentials that Romney proffers as evidence of his business acumen, in fact, mainly show that he hung around the basket during the greatest bull market in recorded history.

By contrast, the 10 home runs generated profits of $1.8 billion on investments of only $250 million, yielding a spectacular return of 7X investment. Yet it is this handful of home runs that both make the Romney investment legend and also seal the indictment: they show that Bain Capital was a vehicle for leveraged speculation that was gifted immeasurably by the Greenspan bubble. It was a fortunate place where leverage got lucky, not a higher form of capitalist endeavor or training school for presidential aspirants.

The startling fact is that four of the 10 Bain Capital home runs ended up in bankruptcy, and for an obvious reason: Bain got its money out at the top of the Greenspan boom in the late 1990s and then these companies hit the wall during the 2000-02 downturn, weighed down by the massive load of debt Bain had bequeathed them. In fact, nearly $600 million, or one third of the profits earned by the home-run companies, had been extracted from the hide of these four eventual debt zombies.

The bankruptcy forced the closure of about 250—or 40 percent—of the company’s stores and the loss of about 5,000 jobs. Yet the moral of the Stage Stores saga is not simply that in this instance Bain Capital was a jobs destroyer, not a jobs creator. The larger point is that it is actually a tale of Wall Street speculators toying with Main Street properties in defiance of sound finance—an anti-Schumpeterian project that used state-subsidized debt to milk cash from stores that would not have otherwise survived on the free market.

Ironically, the businesses and jobs that Staples eliminated were the office-supply counterparts of the cracker-box stores selling shoes, shirts, and dresses that Bain kept on artificial life-support at Stage Stores Inc. At length, Wal-Mart eliminated these jobs and replaced them with back-of–the-store automation and front-end part-timers, as did Staples, which now has 40,000 part-time employees out of its approximate 90,000 total head count. The pointless exercise of counting jobs won and lost owing to these epochal shifts on the free market is obviously irrelevant to the job of being president, but the fact that Bain made $15 million from the winner and $175 million from the loser is evidence that it did not make a fortune all on its own. It had considerable help from the Easy Button at the Fed.

The lesson is that LBOs are just another legal (and risky) way for speculators to make money, but they are dangerous because when they fail, they leave needless economic disruption and job losses in their wake. That’s why LBOs would be rare in an honest free market—it’s only cheap debt, interest deductions, and ludicrously low capital-gains taxes that artifically fuel them.

The larger point is that Romney’s personal experience in the nation’s financial casinos is no mark against his character or competence. I’ve made money and lost it and know what it is like to be judged. But that experience doesn’t translate into answers on the great public issues before the nation, either. The Romney campaign’s feckless narrative that private equity generates real economic efficiency and societal wealth is dead wrong.

The Bain Capital investments here reviewed accounted for $1.4 billion or 60 percent of the fund’s profits over 15 years, by my calculations. Four of them ended in bankruptcy; one was an inside job and fast flip; one was essentially a massive M&A brokerage fee; and the seventh and largest gain—the Italian Job—amounted to a veritable freak of financial nature.

In short, this is a record about a dangerous form of leveraged gambling that has been enabled by the failed central banking and taxing policies of the state. That it should be offered as evidence that Mitt Romney is a deeply experienced capitalist entrepreneur and job creator is surely a testament to the financial deformations of our times.

Here is Ms Conley’s explanation from her 2001 book:In the aftermath of an election, politicians try to figure out what the outcome signifies. In an environment of imperfect information, they must try to distinguish between idiosyncratic events like a weak nominee and long-term political trends like ideological change… They never have perfect information about voters, and yet they must decide on a policy agenda. The task of studying electoral mandates must therefore focus on explaining when presidents feel they have enough popular support to ask for major policy changes.

With Speaker Boehner’s assertion that “we’ll have as much of a mandate as [Obama] will...to not raise taxes”, it is clear that the GOP-controlled House of Representatives is not about to grant the president any kind of deference as he begins his second term in office. If Mr Obama is able to push his tax proposals through Congress it will not be because he was given a mandate or because he claimed one. Legislative success will come if Mr Obama is skillful politically and is able to wrangle support from key legislators at key moments in the process

Republican House candidates won more seats, but Democratic House candidates won more votes—in the aggregate, about a million more.

At the moment, reactionary forces have a death grip on the Republican Party, and their power has been cemented by the party’s institutionalization of closed primaries and caucuses (neither independents nor Democrats can participate) in more than half the states.

If the conservative movement continues on its downward trajectory, the American business community, which has the most to lose from Republican failure, will be the key force arguing for moderation.The problem that faces business leaders pressing for reform is not just the normal reluctance of a political party to change. Instead, it is the fact that much of the Republican electorate, as presently constructed, is profoundly committed — morally and ideologically — to “traditional values.” You’re asking groups of people to change who were brought together by their resistance to change. Their opposition to change is why they are Republicans

An indirect but important reflection of partisan attitudes to change is visible in the higher percentage of Republicans, 58 percent, who believe in creationism – defined in this survey as the belief that God created human beings in their present form within the last 10,000 years – than Democrats, 41 percent, and independents, 39 percent.In effect, for many cultural and social conservatives, being a Republican is not just an allegiance to one of two major political parties but a deeply held belief system, an ideology with a strong religious core.

Accepting defeat and recognizing the results of a public poll is a cultural problem that cannot be solved overnight.

Leaders of the Islamic Action Front did not even recognize what observers had noted about the elections: that they were relatively free and fair.

Absent also are independent cultural figures who should be chiming in with their position in regards to any national event.

But what the elections have shown is that even if changes are made to the electoral process, a much more important change is required, namely of the culture of the citizenry: to believe in the system, accept its results and have the courage and sportsmanship to admit defeat.

This article was first published in the Jordan Times on Jan. 30, 2013.

Trump donated just $31,000 to his campaign in early October despite promises to give up to $100 million to his campaign, according to a fundraising report filed Thursday. He has only donated $56 million to his race as of October 20.

The drumbeat of WikiLeaks disclosures yielded material to lambast Hillary Clinton and her family's foundation. And news of rising Obamacare premiums gave him an opening to criticize President Barack Obama's legacy that Clinton is running to inherit.

But 11 days before the election, Trump is down six points in CNN's Poll of Polls. His path to the 270 electoral votes needed to capture the presidency remains daunting and it will be tough to overcome the deficit in the remaining time. Trump seemed to acknowledge the challenges Thursday.

"The time has come to defend Venezuela's constitution," he said at a news conference, adding that "next Wednesday, we're going to take Venezuela from end to end." He didn't specify what might happen beyond protests.

Maduro, heir to the late socialist leader Hugo Chavez, has vowed that efforts to remove him from office won't succeed.

Many people are fed up with the widespread shortages of basic goods and medical supplies, factory shutdowns and

blackouts.

Opposition groups collected signatures of 1% of the voting population during the first petition drive last summer. That was enough to trigger the second round.