Word: midterms
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...party that has just reclaimed the White House usually loses about 12 House seats in its first midterm election. But something quite different is happening this year. Republicans, who only weeks ago would have been pleased to add three seats to the 44 they hold in the Senate and 20 to the 178 they command in the House, now relish the prospect that they might win effective control -- and perhaps an outright majority -- in one or both chambers...
...mental-moral-political equivalent of the kind of act that the adolescent Bill might have watched on the Ed Sullivan Show. Here was the excitement of the President of the last superpower attempting a well- nigh unconstitutional if admirably motivated exercise (admirably motivated if one discounted the approaching midterm elections and the poll bounce to be coaxed from a triumphal little war: mere cynicism, of course...
...rates by a half point in order to nip inflationary pressures in the bud. But though the Fed did not act at its latest meeting, look for at least one further rate increase --the sixth this year -- at its next meeting Nov. 15, which is conveniently right after the midterm elections. Following the announcement that rates will stay put for now, the Dow Jones Industrial Average jumped 13.46 points to 3863.04. Big gainers included Alcoa, International Paper and Merck, each up a point. The S&P 500 rose 1.23 to 462.05. NASDAQ stocks dipped 0.26 to 755.37. Meanwhile, Treasury bond...
Such are the trials of being the party in power in 1994. Even while recognizing that in midterm elections the President's party almost always loses seats in Congress, the Democrats are bracing this time for a potential disaster. The G.O.P. may well win four additional seats in the Senate -- or in a true rout, the seven they need to regain a majority there -- while picking up 25 more seats in the House. Given what the President has already endured in the present Congress, losses of that size would give the opposition make-or- break power in the next...
ELECTIONS: Massacre in Midterm...