Victor Davis Hanson: ‘It’s the Economy, Stupid:’ How a Political Meme Toppled a President and Could Do It Again

The Daily Signal

Government, Daily News, News, Politics

4.6 • 1.2K Ratings

🗓️ 16 December 2025

⏱️ 9 minutes

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Summary

Affordability is the “new theme that Democrats are using against the Trump administration,” and it appears the administration thinks its “foreign policy successes would mitigate any criticism.” Victor Davis Hanson illustrates the dangers of presidents not heeding the economy’s significance with voters, drawing on one of history’s most notorious examples: former President George H.W. Bush, during today’s episode of “Victor Davis Hanson: In a Few Words.” Bush lost his reelection in 1992 because he and his campaign didn’t take his opponents seriously nor did they think the economy was a worthy platform to run on. “ The economy is on the uptake. Donald Trump is overseas with a lot of successes. And the same Democrats are saying: It's affordability, stupid. And they need to get out in front of that issue and not discount it in the way that Republicans did in 1992.” 👉 The Daily Signal cannot continue to tell stories, like this one, without the support of our viewers: http://dailysignal.com/donate Learn more about your ad choices. Visit megaphone.fm/adchoices

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0:29.7	Could I go back in history just a minute to offer a warning? In 1992, George H.W. Bush,
0:37.4	the elder Bush, was up for re-election. George H.W. Bush, the elder Bush, was up for re-election. George H.W. Bush came
0:42.1	into campaign cycle, 1992, as high as 90 percent approval rating. What happened? They didn't
0:49.7	take the Clinton Gore campaign seriously, and they did not take the third party
0:54.9	candidacy of Ross Perrault seriously. Meanwhile the Clinton Gore George Stephanopoulos
1:01.4	team was saying it's the economy stupid. Bush's popularity went from 90% to 40%
1:08.3	that election year and he would lose that election.
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