David Axelrod on the 2026 Midterms: How Big a Wave?

We are less than seven weeks away from Election Day, and early voting already has begun in some states.
To discuss where things stand and where American politics might go after the midterms, we are joined again by David Axelrod, chief strategist for Barack Obama’s presidential campaigns in 2008 and 2012. Axelrod shares his perspective on how the election might play out when Trump “is in a deep hole and keeps on digging.” He explains how the fundamentals point toward a historically bad year for Republicans—with a war and tariffs, unmistakably the president's own doing, felt acutely by voters through rising energy costs. Kristol and Axelrod also discuss how the Democratic Party is dealing with the rise of economic populism, and where both parties might go in terms of ideology and character of candidates as we look toward the presidential race in 2028.