Right Makes Might

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Panetta walked into the Oval Office and handed the exit-poll notes, with state-by-state breakdowns, to President Clinton. He studied them carefully, without much comment. He had concluded the day before that he was up against something bigger than he had previously understood. On election eve, returning from eight days on the road campaigning, Clinton had told Panetta about a man who had stopped him in Minnesota after hearing the President's pitch about the economy's improvement and the 4 million new jobs the Democratic Administration had helped create. Unpersuaded, the man told Clinton, "The problem is that every time ((Federal Reserve Board chairman Alan)) Greenspan raises interest rates, he takes money out of my pocket." In other words, Clinton complained to his chief of staff, "His message was, 'Every time you produce more jobs, interest rates go up and I get hurt!' "

Throughout Tuesday evening and the rest of the week, Clinton vacillated between self-pity, rationalization and blaming others, and a clear, self- distanced reading of the voters' rejection of his party and many of his policies. Clinton followed the returns into the small hours of Wednesday morning, studying them by state and by district. He found some solace in North Dakota, a state he had lost by a wide margin in 1992, but where Democratic Senator Kent Conrad and Representative Earl Pomeroy managed to win re-election despite having supported Clinton's economic program.

Clinton found another bit of encouragement in the re-election of Colorado Governor Roy Romer, a genuine New Democrat. When Clinton phoned to congratulate him, Romer urged the President to return to New Democrat themes. "People had expectations that he didn't deliver on," Romer told TIME in recounting the 15-minute talk. "They voted for change two years ago, and they don't see it happening." Romer also advised Clinton to "get out with the people more" and address "one of the anxieties that people have, that they're not being listened to." In typical fashion, Clinton, aides say, took this to mean he should hold more town meetings -- where he, of course, does most of the talking.