The Daily Signal Victor Davis Hanson: ‘It’s the Economy, Stupid:’ How a Political Meme Toppled a President and Could Do It Again
Dec 16, 2025
Victor Davis Hanson, a conservative commentator and classicist, delves into how economic messaging can make or break presidential campaigns. He warns that the current 'affordability' theme against the Trump administration echoes the 1992 election pitfalls of George H.W. Bush. Highlighting Bush's complacency and failure to prioritize the economy, Hanson illustrates the dangers of underestimating voter concerns. He draws parallels to today's political landscape, emphasizing that Republicans must heed these lessons to avoid repeating history.
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Affordability Meme Can Outpace Metrics
- Hanson notes Democrats framed affordability as a potent meme against the administration despite improving inflation and cheaper gas.
- He warns dismissing such narratives risks amplifying them even when economic indicators improve.
Explain Immediate Economic Benefits
- Do preemptively explain how policy moves (energy, deregulation, tax cuts, trade, AI) produce near-term benefits.
- Avoid relying solely on long-term forecasts while voters feel immediate affordability pressure.
1992 Campaign Collapse Case Study
- Victor Davis Hanson recounts George H.W. Bush's 1992 campaign collapsing from a 90% approval rating to 40% and losing re-election.
- He attributes the fall to a complacent campaign, failure to take opponents seriously, and Ross Perot's third-party influence.