The Tea Party's defeat of Cantor wasn't a political earthquake. It was a death rattle.

The long-term trends for the movement still look bad

Tea Party
(Image credit: (AP Photo/J. Scott Applewhite))

The government shutdown in October last year was pretty gloomy for economic confidence. Gallup's economic confidence index fell to a dire -39 during the shutdown, the lowest it had been since 2011, although happily it bounced back pretty quickly once House Republicans yielded and raised the debt ceiling:

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John Aziz is the economics and business correspondent at TheWeek.com. He is also an associate editor at Pieria.co.uk. Previously his work has appeared on Business Insider, Zero Hedge, and Noahpinion.