Except for a handful of races, the election is over.
House Results
Republicans will pickup at least 59 seats in the House. They are leading in four other races. The likely total now is 62-63. Democrats lost some key ranking positions budget and other committees. I was disappointed that BJ Lawson, Doug Cloud, and John Dennis lost, but two of those three were expected and the other was a tossup.
Senate Results
In the Senate, Republicans picked up at least 6 six seats with Alaska, Washington, and Colorado yet to come in. It appears Lisa Murkowski will win a write-in campaign to retain her seat in Alaska. If so, she will caucus with the Republicans. Buck has a slight lead in Colorado so that would make it 48 total and a pickup of 8 (counting Buck and Murkowski). Washington will likely go to Democrat Murray.
The only true Senate disappointment is majority leader Harry Reid held onto his seat.
Governors
In Gubernatorial races, Republicans picked up 10-11 seats, with Florida likely. Independents picked up Rhode Island and perhaps Maine.
Republicans also picked up 17 state legislatures. The big Gubernatorial disappointment is Illinois. This race will come down to a few thousand votes. Chicago provided overwhelming totals for Quinn, and Quinn will likely win.
Knockout Punch for Obamanamics
This was the biggest pickup for either party in 62 years. As I said yesterday, the only question was the size of the blowout.
The good news is this is a knockout punch for Obamanamics. Cap-and-Trade and a whole bunch of other Obama supported nonsense is no dead. This Congress, especially the House, will be far more fiscally conservative than the last, also a good thing.
The bad news is the economy will remain stuck in the mud and troops will likely remain stuck in Afghanistan and 139 other places around the globe.
The Republicans can block anything they want, but they cannot pass anything they want. The same holds true for Senate Democrats.
No miracles are in store. So don't expect any.
Mike "Mish" Shedlock
http://globaleconomicanalysis.blogspot.com
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