Rossputin
11/24/10

The election is almost over

On Monday and Tuesday, three of the last five as-yet undecided Congressional races were finalized, with Republicans knocking off Democrat incumbents in two of them.

In New York, freshman Democrat Don Maffei lost to a Republican challenger.  As the LA Times noted, "22 of the chamber's 26 first-term Democrats have lost their seats."

In Texas, 14-term Democrat Solomon Ortiz lost while in California, 3-term Democrat Jim Costa squeaked out a victory.

Two races, also in NY and California, remain undecided with an apparent Democrat edge in both.

Again, quoting from the LA Times:  "Still, the Republicans' wins so far have given them more seats in the House -- 242 -- than the party has held since 1948."

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I'd also note (and I'm not writing about it in greater detail here because I plan an article for a national publication on it), that on Tuesday the Federal Reserve's Open Market Committee released the minutes from its November 3rd meeting.  The new projections for economic growth and unemployment for 2011 and 2012 are shocking for their decrease in the former and increaes for the latter, with important political implications if the new dire forecasts prove correct (much less if they prove overly optimistic.)

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I Am John Galt
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