Jeff  Carter

Indiana Republican Senator Dick Lugar lost his primary bid yesterday. The spin is amazing.

Obama is spinning it to frame the new Republican party as uncompromising. The reality is the opposite. Republicans have been compromising for years. It’s the Democrats that don’t compromise. Fortunately for Republicans, I think that Democrats will lose the spin wars, and are totally misreading the election.

The spin is designed to try and get any one in the middle, if there is truly such a thing.

The liberal Chicago Tribune misses the point as well, and shows it is really good at eating from the Axelrod spoon that feeds them. Lugar lost not because he compromised on issues like national security and foreign policy. Lugar lost because he compromised on financial issues. He also has been there for 36 years. 36 years. Maybe it’s time for new thinking? A seat in Congress isn’t a permanent position.

The big issues this campaign are going to be Obamacare and how a candidate voted on financial issues. The Democratic Senate candidate from Indiana voted for Obamacare, for all the bailouts, and for higher spending and taxes. That is directly opposed from the mood held by the majority of the national electorate. Social issues take a back seat when you can’t find a job.

The Tea Party from its inception has been about fiscal accountability. Stop spending. No where do you see social issues, or foreign policy issues at the forefront of a Tea Party meeting. The old Republican lions of the Senate and House are being retired because they are out of step with this new line of thinking illustrated by people like Paul Ryan.

Trent Lott is now lobbying for a treaty that he firmly opposed as a sitting Senator. He will say his thinking evolved. However, I just think his checkbook evolved. Today’s electorate wants people that stand firm on principles-fiscal restraint principles being at the forefront.

Jeff Carter

Jeffrey Carter is an independent speculator. He has been trading since 1988. His blog site, Points and Figures was named by Minyanville as one of The 20 Most Influential Blogs in Financial Media.