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The Message Box

Is "It's the Economy, Stupid" Still the Right Strategy?

Plus a look back at the wisdom of the shutdowns, California's convoluted vote counting and more

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Dan Pfeiffer
Jun 20, 2026
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Good morning, and greetings from the Chicago airport. I'm headed home after an incredible couple of days at the opening of the Obama Presidential Center. The whole experience was deeply meaningful and hopeful. I hope you got to see some of the speeches, and that you get a chance to visit one day. Some really interesting questions this week, so let's get right into it, but first, some housekeeping.

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Arthur Shechet

Given the plethora of regime outrages, incompetence, and festering issues, is it still, “It’s the economy, stupid”, as priority emphasis for congressional candidates this November?

Answer

You have nailed the fundamental question at the heart of this election and one of the core strategic tensions since Trump stormed onto the scene.

As many of you know, “It’s the economy, stupid” is a motto coined by James Carville during Bill Clinton’s 1992 campaign to remind himself and the team that the economy was the most important issue in the race and that everything Clinton said and did should come back to it.

“It’s the economy, stupid” was a central principle in almost every Democratic campaign from ‘92 to 2016. But then Trump scrambled the equation. His statements, his behavior, his corruption, and his indecency were so shocking that they became the central focus of Democratic messaging.

As bad as Trump was in 2016 and 2020, he is so much worse now. The rhetoric and conduct are more dangerous. The corruption is more brazen. The impetuous and idiotic decisions—like starting a war with Iran—are more obvious.

Given all of that, should Democrats run a traditional campaign centered on the economy, or should we focus on the outrages, incompetence, and festering issues?

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