House Republican leaders held a news conference on Capitol Hill to complain about the pending congressional spending package, which is intended to prevent a government shutdown tomorrow night. But as part of his pitch, House Minority Leader Kevin McCarthy raised a curious rhetorical question about economic policy:
“Why did we have to raise rates? Why is the interest going up? Inflation. How did we get inflation? The runaway spending from the Democrats. Did they learn nothing in the last month election?”
To be sure, the California Republican has earned a reputation as a clumsy speaker. With his “Why is the interest going up?” question, McCarthy was obviously trying to refer to interest rates as set by the Federal Reserve. When he mentioned “the last month election,” he was obviously pointing to the midterms.
What’s more, the GOP leader’s understanding of macroeconomic conditions isn’t great. High inflation is affecting many of the world’s economies right now, not because of congressional spending bills, but because of conditions related to the pandemic.
But I found myself stuck on McCarthy’s most important question: Did Democrats “learn nothing” from the 2022 midterm elections? The implication is that Democrats fared so poorly, and the party received such a brutal electoral rebuke, that they should take this opportunity to come to terms with their devastating defeats and rethink their policy positions.
There are a couple of problems with this.
The first is that Republicans have a curious habit of learning nothing from election defeats. In 2018, for example, the party lost 40 House seats and its majority in the chamber. Two years later, the GOP lost the Senate and the White House, too. What would McCarthy say Republicans learned from the results? Did the GOP reconsider its approach to governance in the wake of their losses?
But just as notable was the flawed premise in the minority leader’s question? To hear McCarthy tell it, Democrats struggled so badly that they should learn from the failures.
Except, that’s not what happened. As we recently discussed, since World War II, Democratic presidents in their first midterms have seen their party lose an average of 40 House seats and five Senate seats. Since Watergate, the results have looked even worse for the party: Democratic presidents in their first midterms have seen their party lose an average of 44 House seats and six Senate seats.








