Marc Lamont Hill dissects the reasons behind a historic election victory for Donald Trump.

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Heading into the presidential election, voters voiced concerns about many issues: abortion, housing, the war in Gaza, immigration. But the one that really resonated at the polls had long dogged the Biden administration, appearing over and over as the top concern on voters’ minds: the economy. In the end, abortion—much as Democrats tried—wasn’t the policy issue that defined the race. Instead, millions of Americans cast their vote based on fear and anger about the state of the economy—all stoked by Donald Trump, who claimed that he was the only one who could solve America’s problems.

On Tuesday, Americans unhappy with the status quo rebuked the current administration for COVID-sparked inflation, following an anti-incumbent pattern that is playing out in elections worldwide. As my colleague Annie Lowrey wrote this week, the “everyday indignity” of heightened food prices, in particular, haunted and enraged American voters even after inflation cooled meaningfully from its 2022 peaks. Though the economy improved by many measures under President Joe Biden, the message from Democrats that you’re doing fine didn’t land—and even seemed patronizing—to Americans who saw high prices all around them. And as Annie noted, although wages have outpaced inflation in recent months, “people interpret wage gains as a product of their own effort and high costs as a policy problem that the president is supposed to solve.”

Trump’s proposals on the economy were frequently incoherent; he scapegoated immigrants for Americans’ financial woes and made promises about tariffs that economists said would lead to higher prices. Still, voters said consistently that they felt that Trump was the right person to handle the economy (even as Kamala Harris started to close in on Trump’s lead on the issue), perhaps because of nostalgia for a pre-pandemic economy that’s unlikely to return. For all the criticism Harris faced early in her campaign for not issuing clearer policy proposals (she ultimately did), Trump was the one whose appeal was rooted largely in “vibes”: He brought heavy doses of hateful culture-war rhetoric to the race, spreading false and dangerous messages about transgender people, blaming immigrants for societal ills, and smearing women, including Harris.

Even though Trump was president just four years ago, he framed himself as the candidate of change, whereas Harris was pegged as the status-quo candidate and struggled to differentiate herself from Biden. Harris, of course, is not the incumbent president. But she was an imperfect messenger on the economy. Even as she started releasing more detailed economic-policy proposals, which included tackling price gouging and making housing more affordable, she was still the governing partner of a president whom voters blamed for inflation—a president whose policies she did not seem willing to openly break with. Trump seized on that dynamic, framing her as a continuation of the current administration and surfacing clips of Harris defending Bidenomics.

Democrats, meanwhile, tried to center abortion rights. When Harris took over for Biden, some pundits saw the issue as a strength for her. It was reasonable for Democrats to think appeals on abortion could work, Jacob Neiheisel, a political-science professor at SUNY Buffalo told me: In 2022, emphasizing abortion proved a decisive issue for Democrats in the midterm elections (though, he noted, it actually helped Democrats only in specific parts of the country—just enough to fend off a midterms “red wave”). But this time around, the economy mattered more: CNN national exit polling found that only 14 percent of voters said abortion was their top issue, compared with more than 30 percent who said that about the economy. And Trump, it seemed, managed to muddle the message on abortion enough that many voters didn’t view him as patently anti-abortion (even as Democrats emphasized that he was responsible for the fall of Roe v. Wade). More than a quarter of women who supported legal abortion still chose Trump, according to exit polling.

Fears about the future of democracy were also at the top of voters’ minds more commonly than abortion, according to CNN exit polling: 34 percent of voters said it was their top issue, suggesting that the Harris campaign’s rhetoric about the existential threats posed by Trump did have some effect on voters’ perceptions. My colleague Ronald Brownstein noted today that in national exit polling, 54 percent of voters agreed that Trump was “too extreme,” “but about one in nine voters who viewed Trump as too extreme voted for him anyway.”

For nearly a decade now, Trump has felt like the dominant figure in American politics. But as David Wallace-Wells noted in The New York Times yesterday, a Democrat has been president for 12 of the past 16 years. Democrats, he argues, for a generation now have been “the party of power and the establishment,” with the right becoming “the natural home for anti-establishment resentment of all kinds—of which, it’s now clear to see, there is an awful lot.” Ultimately, much of the dynamic in this race came down to whether voters were hopeful or fearful about their and their country’s future. When people have the choice to “vote hopes or vote fears,” Neiheisel said, “fears tend to override.”

Related:

What swayed Trump voters was Bidenomics. Why Biden’s team thinks Harris lost

Today’s News

In a speech about Trump’s electoral victory, President Biden urged Americans to “bring down the temperature” and promised a peaceful transfer of power. Special Counsel Jack Smith has been speaking with Justice Department officials about how he can end the federal cases against President-elect Donald Trump, in accordance with the department’s policy against prosecuting sitting presidents. German Chancellor Olaf Scholz fired his finance minister yesterday, ending his coalition government. Scholz pledged to hold a confidence vote, which will likely lead to early elections in March.

Dispatches

Time-Travel Thursdays: In 2015, David A. Graham wrote about America’s dire lack of talented and experienced politicians. Almost a decade later, Stephanie Bai spoke with him to ask how much of his argument has held up, and how much has changed. The Weekly Planet: A tiny petrostate is running the world’s climate talks—again, Zoë Schlanger writes.

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Stephanie Bai contributed to this newsletter.

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