November 3, 2009

The Economics of a Three-Race GOP Sweep

Larry Kudlow, RealClearMarkets

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Against the backdrop of high unemployment and a public revolt against a Democratic health-care bill - which would significantly increase taxes, slash Medicare spending, and massively raise health-care spending elsewhere in a government takeover of our leading growth sector - a three-race sweep by Republicans is very much in play this Election Day.

The Intrade pay-to-play betting/investment parlor shows big wins for Bob McDonnell in Virginia and Doug Hoffman in upstate New York's 23rd congressional district. The New Jersey race for governor is too close to call, with the probabilities swinging wildly. Late last night, Chris Christie's victory probability was 56-46 over Jon Corzine, a 16-point gain for the Republican. This morning, Christie showed a 55 percent chance of victory, with...

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TAGGED: economy, Obama administration, Larry Kudlow

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