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Can a November Red Wave Save U.S. Economy Like Gingrich’s 94 Win?

AMAC Exclusive – By Andrew Abbott

Republican leaders looking to retake the House and Senate next year would do well to start reminding Americans of a chapter of recent political history. It’s a story that would help Republicans explain to voters who are worried about the economy that their only hope is a GOP victory this fall—which would send a powerful signal to both markets and consumers.

Bill Clinton likes to brag that he brought prosperity in the 1990s. The truth is that after promising a middle class tax cut, he passed the biggest tax hike in history and threw the economy into reverse. In addition, he spooked the economy by aggressively pursuing another giant threat to small businesses and family incomes—the big government healthcare takeover known as Hillarycare.

After an economic downturn from 1989-1991, George H.W. Bush’s final year had seen a strong recovery with 3.63% GDP growth. Thus, in January of 1993, Clinton had inherited a booming economy. But Clinton’s big government policies rapidly put the breaks on this resurgence. Job and wage growth slowed while trade deficits soared and productivity was low. Economists began to feel that the rosy predictions of the early 1990s were suddenly looking less and less realistic.

Once Newt Gingrich and Congressional Republicans won in 1994, however, all of that began to change—and quickly. First, Gingrich’s Republican Revolution transformed the morale and the culture of the country. Businesses and consumers relaxed because they recognized there would be no more taxes and little new regulation—and as a result, they were willing to invest and spend once again. That was the first big step in rebuilding the economy Clinton had destroyed.

Almost as quickly, the new Republican Congress began to implement the policies they had run on and won on—the plans laid out in the platform known as the Contract with America. The Contract promised a balanced budget, tax cuts for families, welfare reform, a rollback of crippling government regulations, a crackdown on violent crime, and more. This was the common-sense agenda that had swept Republicans into unified control of Congress for the first time since 1952, with the GOP picking up 8 Senate seats and 54 House seats, and even the incumbent Speaker of the House, Democrat Tom Foley, losing his re-election bid.

Upon becoming Speaker in 1995, Gingrich and the new Republican majority set to work fulfilling their promises to the American People with unprecedented speed. When their policies kicked in—including the largest capital gains tax cut ever—they spurred the economy even further.

In addition to these historic legislative accomplishments, Gingrich’s Congress achieved something else: they forced Bill Clinton back to the political center. Seeing the success of the Contract with America—both politically and economically—Clinton executed one of the most spectacular reversals in the history of American politics.

After spending his first two years governing from the hard left, Clinton shamelessly declared that “the era of Big Government is over” by his 1996 State of the Union Address one year into Gingrich’s new Congress. For the remainder of his term, he pursued an agenda that was largely dictated by or ripped off from Congressional Republicans—leading to the only balanced budgets in our lifetimes.

The economic results of these developments are well known: From 1997 to 2000, GDP grew at over 4% in an extraordinary economic boom. But the achievement was not Bill Clinton’s. Seen properly, it was Gingrich and Congressional Republicans’.

Today, Republican leaders should explicitly remind Americans of this history, and point out to voters that they have a similar opportunity before them. Just as George H.W. Bush handed his predecessor an economy that was rapidly recovering from recession only to have it wrecked by a Democrat president tacking left, Donald Trump gave Biden the strongest economic recovery in history. As we know, Biden proceeded to quickly squander it.

Just as in 1994, however, the election of large Republican majorities in the House and Senate would produce an immediate change in the national morale and economic culture. Biden’s weak economy would begin turning around the day after the election. The results would be seen instantly. Coupled with a legislative agenda of strong pro-growth policies, a Republican Congress could go a long way toward saving the U.S. economy, creating jobs, and producing a rapid return to prosperity. And who knows—perhaps Biden would even have the sense to take a page out of Bill Clinton’s book, and race back to the political center to save his presidency, and the economy along with it.

Andrew Abbott is the pen name of a writer and public affairs consultant with over a decade of experience in DC at the intersection of politics and culture.


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WILLIAM MCKENZIE
4 months ago

Possibly, because there is SOOOOO much leverage against Pedo Quid Pro Joe, Harris, and the Marxist/fascist Rat Party and Deep State.

Jeanette
4 months ago

Some of our Republican “leaders” seem to bend to which ever way that benefits them personally. . Be aware of which ones they are..for they often vote as a Democrat. – Something to think about.

The Man from Fair Oaks
4 months ago

The democrats have always lied, cheated, and gamed the system to maintain their power. This time I think they went too far when they attacked the parent of school children.

john krieg
4 months ago

If GOP takes over the House and the Senate Bidens big spending agenda will be dead in the water. This will help but not turn the inflation around until a Conservative President takes the helm and undoes all the idiotic executive orders Bide singed that stopped oil and gas exploration on federal lands, opened up the border to the largest influx of illegal aliens in the past century.It will take time to undue Biden’s damage.

AndyGu
4 months ago

You need to address the energy crisis. Gas, diesel and natural gas high prices are extremely damaging to every sector of the economy. Even Farm equipment run on diesel, and too many working class stiffs are driving cheap used cars that are not EVs. Instead of buying more oil from Russia, Iran Venezuela and Saudi Arabia, do something about more domestic Shale Gas and you can make a huge dent in the shortage.

Most stuff we need rely on energy costs and by making it too expensive, the impact is multiplied many times throughout the production chain all the way to transportation

SciFir
4 months ago

No matter what happens in midterms which will probably be anti climatic, Biden will be President until Jan 20th 2025. He would veto any bills the GOP Congress would enact. End of Story.

Chris Weldon
4 months ago
Reply to  SciFir

The GOP will end up with a net gain of 70+ in the US House and 5+ in the US Senate. Beijing Biden can be impeached, and his bills can be overridden.

SciFir
4 months ago

Testing

CE Shotwell
4 months ago

“Today, Republican leaders should explicitly remind Americans of this history…” Wrong. It’s Republican leaders who need to be reminded.

john krieg
4 months ago
Reply to  CE Shotwell

Can you tell us one productive thing idiot Biden has done sense taking office other than reminding people he is not Trump?

Sergeant castle
4 months ago
Reply to  john krieg

One positive thing Biden has done is decide not to have anymore children.

JD Arnold
4 months ago

Great article, except for the last paragraph. “Biden” and “sense” can’t be used together in a single sentence referring to a single subject.

Dave Mattea
4 months ago

The GOP needs to come out with a new contract with America.

Right now they are promising nothing other than “we’re not Joe Biden”.

They need to spell out a pro-American, pro-energy agenda, and quickly.

brewinglarry
4 months ago
Reply to  Dave Mattea

Totally agree. They need to explicitly define what they are going to do or the Democrats and their media allies will spout stupidity about how the Republicans are going to outlaw birth control and other such nonsense.

gliderdriver
4 months ago

balanced budget, tax cuts for families, welfare reform, a rollback of crippling government regulations, a crackdown on violent crime, and more. 

SOunds very much like the Trump agenda?

Tracy Kvies
4 months ago

Kevin McCarthy is no Newt Gingrich.

Name Here
4 months ago

Like someone else mentioned, it’s almost fruitless when the voters re-elect a Democrat/s after the ship has been righted.
So….I have a better idea…/
I’ve said for a long time, and now it’s more important than ever…split this country into two. I’ll leave the details of presidents role, military and along what geographical lines, to people much smarter than me. However, we simply cannot go on living like this. It’s draining to go through this every single day. Let the leftists/communists have their cake. It’ll fail—it always does. The rest of us can live the simpler time tested lives that we want. What’s not to like?

Jessica Stewart
4 months ago
Reply to  Name Here

Okay, as long as Conservatives get the west, Commies the east.

Bao
4 months ago

It is not 1994 anymore. The problems Americans face are far different now. Offering the solutions that worked in 1994 won’t work now. I want a congress that will do something about the problems we’re having with immigration, crime, and indoctrination in the public schools. I want a congress that will do something to make sure lockdowns never happen again. I want a congress that will not send $40 billion to Ukraine while Americans cannot put food on the table.

BD
4 months ago

Republicans need to develop a plan and be ready to implement it immediately. We cannot have another debacle like 2016. – both houses of Congress and the White House and they sat on their thumbs and did NOTHING that was promised. Trump delivered; McConnell

BD
4 months ago
Reply to  BD

and Ryan simply wanted to make Trump fail.

Bao
4 months ago
Reply to  BD

Trump didn’t deliver either…. we have no wall.

Chris Weldon
4 months ago
Reply to  Bao

He will finish the job in his next term.

Dennis Habern
4 months ago
Reply to  Bao

Hey Frank-en-stein, we maintain no wall, because komrad Biden stopped its progress.

There, I fixed it for you.

Alan
4 months ago

I pray to God the Father, God the Son(Jesus Christ) and God the Holy Spirit that this red wave will happen. May the Lord God use Donald Trump to purify America of all types of sin and corruption. May Donald Trump be surrounded by God’s holy angels especially St. Michael the archangel. Amen.

SciFir
4 months ago
Reply to  Alan

But Trump is an atheist who doesn’t believe in sin but only self love and pride. He is more like the anti christ mentioned in the Christian Bible. Are you praying for the anti christ???

Chris Weldon
4 months ago
Reply to  SciFir

I think it’s past your bedtime, little one.

Dennis Habern
4 months ago
Reply to  SciFir

The Anti-Christ is the half-breed Obama.

Sid
4 months ago

President Cabbage Brain isn’t doing anything. Comrade Barack is running the things.
Stew Peters has said that he knows someone inside the “Cabbage Brain” White House

Becky
4 months ago

It literally never seems to matter. Every time the conservatives make America function our braindead, stupid voters put the demonRat Party right back in. Congress is so useless they ALWAYS fail to make these policies into Laws that would make these gains permanent.
Voters are braindead.
Politicians are corrupt and useless.
Not much to make us succeed.

CE Shotwell
4 months ago
Reply to  Becky

Pogo was right.

Sgt Pops
4 months ago

As Benjamin Franklin said to a woman who asked him; “What type of government do we be?” – “Madam, we be a Republic, if you can keep it.” Without a serious Red Wave in November we’re in serious trouble. The Red Wave, however, also needs to clean out the RINOS.

TIKA
4 months ago

Jaime Dimon! should change his name to Jaime Moron! Ceo is ultimately responsible for everything good and bad.
Phil Rosen 18 minutes ago, m
May 10,2022
JPMorgan mistakenly called Chinese Internet stocks ‘uninvestable’ in a March research note that wiped out $200 billion from US and Asian markets, says report

  • A publishing error caused a JPMorgan research note in March to describe Chinese internet stocks as “uninvestable,” Bloomberg reported. 
  • The bank’s editorial staff had asked for the term to be removed from 28 research notes before they published March 14. 
  • While “uninvestable” was removed from most of the research notes, it was published by error in four, including one on JD.com. 

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