00:00Looking forwards, I mean, it's pretty clear, isn't it?
00:02Politically speaking, the midterms in November 2026 are going to be the big political story of the year.
00:09Now, for people who don't know, obviously, control of Congress is at stake in the midterms.
00:14And this is going to be the first major electoral test of President Trump's second term.
00:19Can the Republican Party hold on to the House and or the Senate?
00:26It's possible, Tom.
00:27I think the Republicans will definitely hold the Senate.
00:30The map is pretty favorable for for the party right now.
00:33It's the House that I worry about, because historically, the party out of power always picks up seats and the Democrats only have to pick up three or four seats to flip the House.
00:43So historically, it's a big challenge.
00:45However, if the economy continues to turn around and we see real wage growth in 2026, the Republicans have a shot.
00:53George W. Bush won and picked up seats in 2002 midterms.
00:58Bill Clinton picked up seats in the 98 midterms.
01:01So it can be done.
01:02But I do think you have to have a robust economy and an increase in real wage growth in order for the Republicans to hold the House.
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