The Lead: We Still Don’t Have a Winner
Same thing we said yesterday: No decisive victor has been called for the Presidency. Vice President Biden has been declared the victor of the key state of Michigan by the media only. His path to success is increasingly hopeful so he gave a short speech Wednesday evening.
Where things stand
Biden committed to waiting to declare victory until it was all over but said he was hoping to become the President for all Americans when all votes were counted.
Despite the final result, turnout was still one for the history books. Biden received more votes as of Wednesday than any other Presidential candidate in American history, surpassing Barack Obama by 300,000 votes.
Big picture: The states we still need to declare a winner include Pennsylvania, Arizona, Nevada, Georgia, North Carolina, and Alaska. The President has been prematurely declaring victory in many of those states on Twitter and Twitter has in turn been flagging the Tweets as untrue. As predicted.
Meanwhile, Stimulus and Stocks
The stock market still trended upwards, despite the uncertainty. Senate leader Mitch McConnell said that he wants to revive efforts for a Covid stimulus package and House Leader Nancy Pelosi is ready to talk again.
Given that Democrats did not sweep leadership in the Senate, the two of them will have to go back to the same balance of power that they had before the election and work something out. Pelosi will likely have to lower her demands in order to pass something. McConnell said he would like a bill passed before the end of the year.