‘Misery Index’ shows Democrats lose 30-40 seats in midterms

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Joe Biden and the Democrats are in big trouble with the upcoming 2022 midterm elections.

If the so-called “misery index” is accurate, according to a Bloomberg Economics study, Democrats can expect “to lose 30 to 40 seats in the House and also several in the Senate.”

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This would cause Democrats to lose control of both chamber in Congress.

The misery index adds up inflation and unemployment rates in order to generate a forecast for upcoming elections.

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It has been a “reasonably accurate barometer over the decades.”

The highest scores on the misery index are occurring in Texas, Nevada, New Mexico, Ohio and Delaware.

Inflation has hit a runaway figure of 9.1 percent under Biden’s watch.

More on this story via Daily Mail:

The misery index is calculated by adding up the inflation and unemployment rates to create a measure of voters’ likely attitudes when they cast ballots on November 8.

By October, the index could have hit 12 percent. Barring a spike in early 2020 at the start of the Covid-19, that would be the highest level since the dragged-out recession in 2011.

Models for predicting elections are far from perfect β€” but the misery index has been relatively successful over the decades.

Other midterm election forecasts range from sweeping Republican gains to an effective wash. Still, there is a consensus in Washington that inflation at 9.1 percent and high gas prices will hurt Democrats.

Liz Young, an investment strategist at finance firm SoFi, said the index was elevated β€˜but still way lower than in the 70’s and 80’s when both inflation and unemployment were high’.

The study was released after a glut of gloomy economic indicators.

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