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Affordability Is About Current Prices

November 14, 2025 at 2:00 pm EST By Taegan Goddard Leave a Comment

Stephen Roach: “Affordability is about the price level, not the rate of change of prices. Disinflation, or a decelerating rate of change in inflation is a good thing, especially for inflation-targeting central banks. But even in a disinflation, prices keep rising, providing no relief to the fundamental problem of pocket-book distress known as affordability.”

“Moreover, with the lagged impacts of tariffs now largely responsible for most of the reacceleration of headline CPI inflation from the April low of 2.3% to the latest reading of 3.0% in pre-shutdown September, the price-level affordability issue is once again going from bad to worse. And these pressures are likely to persist, with further tariff-related increases still in the pipeline.”

Median Age of Homebuyers Keeps Growing

November 14, 2025 at 1:55 pm EST By Taegan Goddard Leave a Comment

Torsten Slok: “In 2010, the median age of all US homebuyers was 39 years old. Today, it is 59.”

The Cost of the Shutdown

November 14, 2025 at 1:00 pm EST By Taegan Goddard Leave a Comment

“The longest government shutdown in US history may be over — but its economic fallout is still coming into focus,” Semafor reports.

“At least $11 billion in real GDP will be gone for good, according to the Congressional Budget Office. And key economic data, including employment and inflation numbers for October, will likely never be released.”

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Shutdown Blowback from Swing Voters

November 14, 2025 at 12:58 pm EST By Taegan Goddard Leave a Comment

“Georgia swing voters in our latest Engagious/Sago focus groups expressed frustration with Democrats for dragging out a federal government shutdown only to end it without a guarantee from Republicans to offset rising health insurance premiums,” Axios reports.

“Seven of the 13 Biden-to-Trump Georgia swing voters in this week’s panels said Democrats came out of the shutdown looking worse than Republicans.”

Exchange of the Day

November 14, 2025 at 12:30 pm EST By Taegan Goddard Leave a Comment

Sen. Mark Kelly (D-AZ) told McKay Coppins that ICE agents should refuse unlawful orders. 

KELLY: Don’t have bad interactions with people. Do the job in a respectful way and follow the law. By the way, you don’t have to follow unlawful orders. That’s true for the military. I think it’s true for federal law enforcement, too. Nobody can tell you to break the law. You can’t be told to violate people’s constitutional rights. People have to stand up and say, no, I’m not going to do that.

COPPINS: Would you like to see more of that among ICE agents?

KELLY: Yeah, of course I would. I’d like to see them wearing an ID, not wearing masks and telling Stephen Miller or Kristi Noem that we will follow the law and there are limits to what we will do.

Epstein Returns at the Worst Time for Trump

November 14, 2025 at 12:00 pm EST By Taegan Goddard Leave a Comment

Jonathan Lemire: “Since his return to office, President Donald Trump has missed few chances to flex the power he wields over the nation’s most formidable institutions and its wealthiest people. So when the White House announced that Trump would host the latest in a series of dinners with top business executives, this time including JPMorgan Chase head Jamie Dimon and the chief executive of Nasdaq, reporters in the White House press pool prepared to watch Trump show off.”

“Nope. Last night’s dinner was closed to the press. No reporter was even given a glance. And later, when the White House held a signing ceremony for the president to officially end the longest federal-government shutdown in history, the reporters present were quickly whisked out of the Oval Office. Today, too, he didn’t talk to the press after signing an executive order alongside the first lady in the East Room. The president, to be clear, had not suddenly become camera-shy. But he had indicated to aides that he didn’t want to face reporters’ questions, because every inquiry was going to be about the one subject that Trump, for all his power, simply can’t make go away.”

Four Simple Questions for Marjorie Taylor Greene

November 14, 2025 at 11:58 am EST By Taegan Goddard Leave a Comment

Yair Rosenberg: “A few recent breaks with her party do not negate a lifetime of conspiracies.”

House Democrats Call for Chuck Schumer to Step Aside

November 14, 2025 at 11:55 am EST By Taegan Goddard Leave a Comment

“A growing number of House Democrats are calling for Senate Minority Leader Chuck Schumer (D-NY) to step aside from leadership,” Axios reports.

“Schumer is highly unlikely to heed their calls, but this represents Democrats’ largest groundswell against one of their leaders since last year’s effort to push then-President Biden off the presidential ticket.”

America First?

November 14, 2025 at 11:30 am EST By Taegan Goddard Leave a Comment

“President Trump has been dining with Wall Street bigwigs. He has embarked on an opulent revamp of the White House at a time when Americans are struggling to pay their bills. He has expressed support for granting visas to skilled foreigners to take jobs in the United States. He approved a $20 billion bailout for Argentina, helping a foreign government and wealthy investors at a moment when the U.S. government was shut down,” the New York Times reports.

“For a president who returned to office promising to avoid foreign entanglements, make life more affordable and ensure that available jobs go to American citizens, it has been a significant departure from the expectations of his loyal base. And it is starting to open a rift with his supporters who were counting on a more aggressively populist agenda.”

Weekly News Quiz

November 14, 2025 at 11:00 am EST By Taegan Goddard Leave a Comment

It was another week packed with political drama — from the stunning off-year election results to the chaotic end of the government shutdown and the escalating fight over releasing the Epstein files.

Test how closely you followed the twists and turns with this quiz.

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Record Number of Americans Want to Leave

November 14, 2025 at 10:55 am EST By Taegan Goddard Leave a Comment

Gallup: “For the second straight year, about one in five Americans say they would like to leave the U.S. and move permanently to another country if they could. This heightened desire to migrate is driven primarily by younger women.”

Trump Scolds ‘Weak Republicans’ Over Epstein Files

November 14, 2025 at 10:14 am EST By Taegan Goddard Leave a Comment

President Trump went after what he called “weak Republicans” for backing an effort to compel the Justice Department to release files on convicted sex offender Jeffrey Epstein, Deadline reports.

Said Trump, on Truth Social: “The Democrats are doing everything in their withering power to push the Epstein Hoax again, despite the DOJ releasing 50,000 pages of documents, in order to deflect from all of their bad policies and losses, especially the SHUTDOWN EMBARRASSMENT, where their party is in total disarray, and has no idea what to do. Some Weak Republicans have fallen into their clutches because they are soft and foolish.”

Howard Lutnick’s Sons Score Record Year

November 14, 2025 at 10:10 am EST By Taegan Goddard Leave a Comment

“As it pushes back on suggestions of conflicts of interest, the financial boutique is on track for its most lucrative year ever,” Bloomberg reports.

The Worst College Grad Job Market in Years

November 14, 2025 at 10:00 am EST By Taegan Goddard Leave a Comment

“Employers have a warning for the Class of 2026: Next spring’s graduate-hiring market is likely to be even worse than this year’s,” the Wall Street Journal reports.

“Six months out from graduation season, more than half of 183 employers surveyed by the National Association of Colleges and Employers rate the job market for the Class of 2026 as poor or fair. That is the most pessimistic outlook since the first year of the pandemic, according to the survey, which is widely seen as an early signal of graduate hiring each year.”

Derek Thompson: Are young people screwed?

Bonus Quote of the Day

November 14, 2025 at 9:53 am EST By Taegan Goddard Leave a Comment

“Jeffrey Epstein was not a pedophile… He was into the barely legal type, like he liked 15 year old girls… There’s a difference between a 15 year old and a 5 year old.”

— Megyn Kelly, on her Sirius XM show.

U.S. Reaches Trade Deal With Switzerland

November 14, 2025 at 9:50 am EST By Taegan Goddard Leave a Comment

“Switzerland said on Friday that it had reached an agreement with the United States to lower a punishing 39 percent tariff on Swiss goods to 15 percent, a change that will help to lower the price of exporting pharmaceuticals, gold, watches and chocolate to the United States,” the New York Times reports.

Democrats Less Likely to Be Friends with Republicans

November 14, 2025 at 9:44 am EST By Taegan Goddard Leave a Comment

“Despite a polarized, partisan political environment, most voters who consider themselves a member of a party say they have a close friend on the other side of the aisle,” according to the latest NBC News poll.

“However, Democrats in the poll were less likely to say they have a close, cross-party friendship.”

“More than 8 in 10 Republicans (82%) said they have at least one close friend who is a Democrat, while a little over 6 in 10 Democrats (64%) are close friends with a Republican — a gap of 18 percentage points.”

Jeffrey Epstein Advised Steve Bannon in 2018

November 14, 2025 at 9:42 am EST By Taegan Goddard Leave a Comment

“Jeffrey Epstein apparently served as a behind-the-scenes adviser to the former Trump official and MAGA influencer Steve Bannon during an August 2018 media campaign to defend Trump and his agenda, and to promote Bannon’s media ventures,” The Guardian reports.

“Text messages released by the House oversight committee on Wednesday detail a six-day exchange between the men from August 17 to 23, and show Epstein coaching Bannon on television appearances and political messaging.”

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Off the Record: “Off the record” is a term used in journalism meaning that the information given to the reporter cannot be attributed to the person saying it.….

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About Political Wire

goddard-bw-snapshotTaegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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