Republicans Get Some Terrible News: The Economy Will Improve In 2022

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Last updated on September 25th, 2023 at 02:52 pm

Republican dreams of taking back Congress in 2022 are based on voter anger over a bad economy, but estimates show unemployment hitting a 50 year low and inflation dropping.

Republicans May Not Get The Bad Economy That They Wish For In 2022

CNN reported on the 2022 economic forecast by Goldman Sachs:

After slowing this summer, the US economy will get a boost from the reopening of the service sector, consumer spending, and inventory restocking, the Wall Street bank said.

That’s why the jobs market will likely reach maximum employment by mid-2022, boosted by “red-hot demand for workers,” Goldman Sachs said. The unemployment rate is expected to slip from 4.6% today to 3.7% by mid-year and 3.5% by the end of the year.

….

Although Goldman Sachs expects “persistent inflationary pressure” from rising wages and rent, it expects inflation will only be “moderately above” 2%. That would be in-line with the Federal Reserve’s new framework for inflation, which calls for allowing prices to run a bit hot after years of subdued inflation.

Kevin McCarthy has been openly rooting for a bad economy in 2022, so a good economy and low inflation is bad news for his hopes of becoming the next Speaker.

Democrats May Get To Run On A Boatload Of Accomplishments And A Good Economy

A good economy changes the 2022 calculus. Kevin McCarthy is setting sky-high expectations that Republicans will win 60 or 70 House seats. If the economy is good, Republicans might have a much smaller majority, or the door opens for Democrats to defy history and keep the majority.

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Republicans are firmly on team COVID. They have weaponized the pandemic to slow down the economy and hurt Democrats.

The GOP has been killing their own supporters to keep the coronavirus great, but those deaths may end up being for nothing if a good economy leads to a strong Democratic midterm performance.

Jason Easley

Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.

Awards and Professional Memberships

Member of the Society of Professional Journalists and The American Political Science Association