Donald Trump’s Support is Slipping Within the GOP

Photo by Jun Li on Unsplash

by Greg Valliere, AGF Management Ltd.

MOST REPUBLICANS ON CAPITOL HILL will tell you privately that they have an excellent chance of recapturing the House in November, and a good chance of narrowly taking the Senate — except for one factor: Donald Trump could drag them down.

THESE REPUBLICANS SEE MOST OF THE KEY ISSUES breaking in their favor: inflation, illegal immigration, urban crime, mixed messages on Covid, etc. Yet Trump insists that the dominant issue in the next election should be his claim that he was cheated out of a second term.

THE DAM BEGAN TO BREAK in recent days, after Trump’s suggestion that the Jan. 6 rioters might deserve a pardon. That enraged Senate Republicans, who want to move on and focus on issues that can help them in the fall; they don’t want a backwards look at the last election.

A GOOD BAROMETER OF THE PARTY’S MOOD is the outspoken Sen. Lindsey Graham, who called Trump’s comments “inappropriate.” He added: “No, I don’t want to send any signal that it was OK to defile the Capitol. There are other groups with causes that may want to go down the violent path” if they are encouraged by Trump pardons, Graham said.

OTHER CONSERVATIVE REPUBLICANS VOICED SIMILAR OPINIONS — including John Cornyn of Texas and John Thune of South Dakota. And a majority of Senate Republicans are exasperated by Trump’s continued insistence that former Vice President Pence failed to block Biden’s victory; Pence had no such authority.

IF TRUMP SEEKS RE-ELECTION IN 2024, he almost certainly will face opposition. Some could come, incredibly, from the far right, which has mocked Trump’s support of vaccines and his initial endorsement of Covid lockdowns. Florida Gov. Ron DeSantis is itching to challenge Trump from the right.

THERE UNDOUBTEDLY WILL BE A CHALLENGE from more moderate Republicans, like Maryland Gov. Larry Hogan and possibly former New Jersey Gov. Chris Christie. A half dozen Republicans have made the trek to frigid New Hampshire, which has a history of surprising primary results.

TRUMP STILL HAS SOLID SUPPORT among his passionate base, but polls show that an increasing percentage of Republican voters may be tiring of him. We’d guess that he probably has the backing of 75% in the party, down from about 90% a few months ago. More and more voters want to hear what he would do about inflation; they’re tired of re-litigating the 2020 election, and they’re sick of debate over Jan. 6.

OUR BOTTOM LINE is that Trump is not a shoo-in for the GOP nomination, and would face an uphill fight in the general election, perhaps against a fresh face (a moderate governor?) on the Democrats’ ticket.

TRUMP COULD GET BOGGED DOWN BY a steady drumbeat of revelations: Did he seek to impound voting machines? Does he face indictment in Georgia for intimidating officials who ruled that he lost the state? Does he face charges of tax fraud in New York?

IT’S CLEAR TO US that most of the policy issues will break for the GOP in the next two elections. So why would Republicans want to throw the Democrats a life preserver? The public wants to move on, yet Trump wants the debate to be about him — regardless of the damage that would inflict on his own party.

 

 


The views expressed in this blog are those of the author and do not necessarily represent the opinions of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies.

The views expressed in this blog are provided as a general source of information based on information available as of the date of publication and should not be considered as personal investment advice or an offer or solicitation to buy and/or sell securities. Speculation or stated believes about future events, such as market or economic conditions, company or security performance, or other projections represent the beliefs of the author and do not necessarily represent the view of AGF, its subsidiaries or any of its affiliated companies, funds or investment strategies. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change and AGF accepts no responsibility for individual investment decisions arising from the use of or reliance on the information contained herein. Any financial projections are based on the opinions of the author and should not be considered as a forecast. The forward looking statements and opinions may be affected by changing economic circumstances and are subject to a number of uncertainties that may cause actual results to differ materially from those contemplated in the forward looking statements. The information contained in this commentary is designed to provide you with general information related to the political and economic environment in the United States. It is not intended to be comprehensive investment advice applicable to the circumstances of the individual.

AGF Investments is a group of wholly owned subsidiaries of AGF Management Limited, a Canadian reporting issuer. The subsidiaries included in AGF Investments are AGF Investments Inc. (AGFI), AGF Investments America Inc. (AGFA), AGF Investments LLC (AGFUS) and AGF International Advisors Company Limited (AGFIA). AGFA and AGFUS are registered advisors in the U.S. AGFI is a registered as a portfolio manager across Canadian securities commissions. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. The subsidiaries that form AGF Investments manage a variety of mandates comprised of equity, fixed income and balanced assets.

About AGF Management Limited

Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

For further information, please visit AGF.com.

©2022 AGF Management Limited. All rights reserved.

This post was first published at the AGF Perspectives Blog.

Total
0
Shares
Previous Article

Tech Talk for Tuesday February 1st 2022

Next Article

Prairiesky Royalty Ltd. - (PSK.TO) - February 1, 2022 (Daily Stock Report)

Related Posts
Subscribe to AdvisorAnalyst.com notifications
Watch. Listen. Read. Raise your average.