On Friday, a Fox Business commentator issued a plea to President Donald Trump: fix the economic situation, “or else.” This warning was delivered by investment advisor and Fox Business analyst Gary Kaltbaum, who declared on no uncertain terms that voters want the war to end and prices to come down or the GOP will pay in the November midterms.
The segment began with investor and frequent Fox Business guest Marcus Lemois speaking skeptically of Trump’s latest claim of a pending deal to end the war with Iran. “I've had to put a lot of personal trust in the president and the administration as they're doing this,” admitted host Jackie DeAngelis when Lemois asked whether she thought Trump was making progress on opening the Strait of Hormuz. “I don't really love how long it's gone on, and I don't love how the market has taken it. And as a voter and a citizen, too, I want to see an end game here. And I know the markets want that as well.”
“The American people are sort of maybe out of trust,” asserted Lemois, asking Kaltbaum, “Who blinks first here?”
“There's something coming up in November,” Kaltbaum replied, referring to the fast-approaching midterms. “The president has to do something, because [Republicans] are behind big time, and I think there's a real good chance of [losing] the Senate at this point. Elections have consequences.” In Kaltbaum’s estimation, however, Trump has no good options for ending the war, “and I think maybe Iran knows that. So I'm wondering, where's the leverage? I don't think it's a great sign. The fact that it's been going on so long, I think, speaks volumes. How many times I've been here and said, I just want this over. And I think every American wants it over. I think I paid $4.89 for gas two days ago. We're talking some big numbers there. And imagine how many products are made with petroleum, where those prices are going to go up. So what are we – almost 40 days left to the election? Something's got to move, or else.”
There has been growing panic in the Republican Party over polling that suggests it will lose its majority in one or both chambers of Congress. As the Wall Street Journal reports, “The president’s approval rating has fallen and stayed depressed, in large part due to the war in Iran that has raised gas and energy prices. He has insisted that GOP voters act as if he is on the ballot — but that has become a problem for some Republican candidates in competitive districts.” As a result, a growing number of Republicans are speaking out against the president. “In recent weeks, some lawmakers threw cold water on his idea for $5,000 checks,” writes the Post, “a Florida congresswoman criticized his deportations and a handful of candidates in tight House races sided with Democrats on a war-powers vote.”
Republican support for the conflict has fallen steeply. On Fox, Lemois raised Trump’s shift into waging “economic warfare” against Iran, noting, “It doesn't seem to be working.” Gas prices, he pointed out, are bad for consumers, but skyrocketing diesel prices are an even bigger problem as they drive inflation and another potential interest rate hike. “Diesel prices are up gargantuan,” Kaltbaum agreed. “This is big time matters to the whole economy, from the consumer to the biggest of businesses. Something's got to get done.”