REUTERS/Joshua Roberts - Senate Majority Leader Harry Reid (D-NV) speaks after leadership elections for the 114th Congress on Capitol Hill in Washington November 13, 2014. Senate Democrats on Thursday chose current Majority Leader Reid of Nevada as their minority leader for the next congressional session, which begins in January, according to Senator Dianne Feinstein.

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The Economic Foundations of This Year’s Mid-Term Elections

November 18, 2014, Robert Shapiro

The usual explanations for the Democrats’ drubbing in this year’s mid-term elections have focused mainly on the lopsided number of Democrats up for reelection, especially in red states, low turnout among important parts of the Obama coalition, and the President’s depressed popularity. In this post, Robert Shapiro looks at a more basic and underlying issue: the stagnating incomes of middle-class Americans. 

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