Kamaloss for the Left Wing
U.S. Democratic presidential nominee Joe Biden announced yesterday that California senator Kamala Harris will be his running mate.
The selection did not come as a huge surprise to political pundits and is not expected to have a particularly large impact on which way the 2020 election goes. After all, evidence suggests that vice presidential choices have a fairly limited impact on electoral results.
However, the choice is significant because of what it says about the future of the democratic party. The party’s left wing was dealt a blow when Bernie Sanders and Elizabeth Warren did not win the nomination, so voters from that faction of the party were hoping Biden would choose a very progressive running mate.
Harris has a fairly liberal voting record in the Senate, but she is not as far left as Sanders and Warren, so the selection is another blow to that wing of the party.
The Democratic party has moved left in recent years, but the Harris selection indicates that liberal activists will have a hard time achieving many of their policy goals even if Democrats control the house, the senate and the presidency.
I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.