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In recent decades, ahead of Iowa’s presidential caucuses, there tends to be a spirited political fight over whether the nominating contests matter. After all, Iowans of both parties have routinely rallied behind candidates who’ve ended up falling short, raising legitimate questions about the caucuses’ importance.
But part of what makes Iowa significant isn’t the caucuses’ role in elevating those who win, rather it’s the caucuses’ role in dispatching those who lose. NBC News reported:
Former Arkansas Gov. Asa Hutchinson announced Tuesday that he is suspending his campaign for the Republican presidential nomination, dropping out after failing to register in the Iowa caucuses. Hutchinson notched 0.2% of the vote in Monday’s caucuses, finishing a distant sixth after an anti-Trump campaign that did not gain traction for the veteran Republican in the new GOP.
“My message of being a principled Republican with experience and telling the truth about the current front-runner did not sell in Iowa,” the Arkansan said in a written statement. “I stand by the campaign I ran.”
Hutchinson’s announcement came roughly 12 hours after the fourth-place finisher also wrapped up his candidacy. NBC News reported overnight:
Businessman Vivek Ramaswamy dropped out of the 2024 presidential race Monday night after a disappointing showing in the Iowa caucuses and endorsed former President Donald Trump. ... Ramaswamy said he called Trump to congratulate him on his victory and would attend a rally with him in New Hampshire on Tuesday.
The far-right, conspiratorial entrepreneur spent months boasting that his campaign would “shock the world“ with his electoral success. That obviously didn’t happen.
But as Ramaswamy exits the stage, it’s worth appreciating the political dynamic that led him to run in the first place. Several years ago, as the GOP’s 2016 presidential field swelled, I explained why so many unqualified candidates with little chance of success launch longshot White House bids. One of the key reasons: The promise of post-defeat rewards.
Paul Krugman has written for years about the existing “wingnut welfare” infrastructure that offers financial security for prominent far-right voices. This, as much as anything, encourages Quixotic presidential campaigns, because candidates realize that failure is often little more than a precursor to years of success.
Halfway competent Republicans who raise their national profile can expect conservative media gigs, paid speaking opportunities, book deals, and inevitable podcasts.
Why else would a 38-year-old entrepreneur with no experience in government launch a candidacy for the nation’s highest office?