This is an adapted excerpt from the Nov. 11 episode of “Morning Joe.”
In every speech I’ve given over the past 20 years, I talk about the ebb and flow of American politics: If a party gets voted into power and goes too far left or too far right, they’re corrected in the midterms and readjust for the next election.
I learned this firsthand during President Bill Clinton’s first administration. After he was elected in 1992, Clinton passed the Tax Reform Act of 1993, which increased the corporate tax rate and the top federal income tax rates.
In 2022, Democrats didn’t have this usual “shellacking.”
Clinton was quickly painted as a left-wing radical, and that reaction got people like me elected in 1994. However, when we shut down the government trying to balance the budget, we were seen as going too far right, which helped Clinton get re-elected in 1996.
In 2008, we saw the same thing with President Barack Obama. He won this massive, sweeping victory, but two years later the tea party came in and said, “It’s our turn now.”








