The Megyn Kelly Show - November 05, 2026


Dem Hinojosa Ousts Abbott in Texas, Johnson Exits GOP Leadership, DSA Gains Ground： AM Update 11⧸5

Why Voters Delivered the Blue Tsunami, the Shocking Dem Margins, and the WORST New Senators, with RealClearPolitics ｜ Ep. 1434

Episode Stats


Length

20 minutes

Words per minute

147.07

Word count

3,069

Sentence count

186

Harmful content

Misogyny

8

sentences flagged

Hate speech

6

sentences flagged


Transcript

Transcript generated with Whisper (turbo).
Misogyny classifications generated with MilaNLProc/bert-base-uncased-ear-misogyny .
Hate speech classifications generated with facebook/roberta-hate-speech-dynabench-r4-target .
00:00:00.000 How does Edward Jones do money differently?
00:00:03.520 Our financial advisor would listen to us
00:00:05.800 and actually really get to the meat and potatoes
00:00:08.280 of what our lifestyle is and what we believe in.
00:00:12.580 Knowing our financial advisor was always there.
00:00:16.320 We could call him with anything, at any time.
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00:00:22.180 that actually fits you.
00:00:30.000 Good morning, everyone. I'm Emily Drashinsky, host of After Party and the Megyn Kelly Wrap-Up
00:00:37.180 Show on SiriusXM channel 111. It's Thursday, November 5th, 2026, and this is your AM update.
00:00:44.220 Progressive politics is associated with culture wars, and I have no interest in fighting culture
00:00:50.640 wars at this time. Democrat Gina Hinojosa making history in Texas. A closer look at the incoming 1.00
00:00:56.980 governor's progressive record and populist promises. House Speaker Mike Johnson stepping
00:01:02.540 aside from Republican leadership after the GOP's crushing midterm defeat as a battle to replace
00:01:08.340 him takes shape. All of these things now are in the mainstream. We're actually having conversations
00:01:13.820 about socialism, about capitalism. Democratic socialists making major gains in Congress as
00:01:20.380 their growing influence sets up a potential showdown with House Democrat leader Hakeem
00:01:25.200 Jeffries. And Wall Street surges following Democrats' sweeping midterm victories as
00:01:30.220 investors embrace divided government. All that and more coming up in just a moment on your AM Update.
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00:02:45.180 Democrat Gina Hinojosa making history in Texas.
00:02:48.200 defeating three-term Republican Governor Greg Abbott to become the state's first Latina governor
00:02:53.380 and end more than three decades of Republican control of the governor's mansion.
00:02:58.640 The 52-year-old state lawmaker becoming the first Democrat elected governor since Ann Richards won the office in 1990,
00:03:06.380 denying Abbott an unprecedented fourth term.
00:03:09.600 According to NBC News, Hinojosa capturing 52.8% of the vote to Abbott's 45.7%,
00:03:15.820 a margin of more than 705,000 votes as of yesterday afternoon.
00:03:20.520 It's a remarkable reversal in a state President Trump carried by nearly 14 points just two years ago.
00:03:26.220 A particularly significant shift taking place in the heavily Latino Rio Grande Valley,
00:03:31.440 where Republicans made major gains during the last several election cycles.
00:03:36.180 Hinojoso winning back several border counties that supported President Trump in 2024,
00:03:41.120 including Hidalgo, Starr, and Zepeda counties.
00:03:44.860 Democrat strategist Chuck Rocha pointing to the changing political attitudes of Latino voters during an appearance on CBS Mornings Wednesday.
00:03:52.400 The Hispanic vote is really what the difference is here.
00:03:55.380 We've been covering on this network and others the dramatic move to the right over the last few cycles, especially in places like Miami-Dade or the Texas Valley. 0.64
00:04:03.240 Last night, for the first time in the history of me running campaigns, I saw a snapback quicker than I have. 0.76
00:04:09.420 Sometimes voters, soccer moms move around. 0.87
00:04:11.520 Well, the Latino voter is now the new soccer mom. 1.00
00:04:14.540 They don't know which party they belong to, but they know that they're mad. 1.00
00:04:17.480 And why are they so mad?
00:04:19.100 They're mad about cost corruption. 0.64
00:04:20.860 Made over 200 ads in Spanish this year in 20 congressional races that have heavy Latino
00:04:25.320 population.
00:04:26.280 The number one issue in every poll that we did in Spanish was about the cost of living
00:04:30.380 and how hard it is to get by.
00:04:32.240 A former civil rights and labor attorney, Hinojosa, growing up in South Texas before 0.90
00:04:36.600 eventually moving to Austin, where she served on the local school board and later became
00:04:40.860 its president.
00:04:42.140 First elected to the Texas House in 2016, she has spent the last decade representing
00:04:46.960 a heavily Democrat district in Austin, building much of her legislative career around public
00:04:51.960 education.
00:04:53.220 According to the Texas Tribune, Hinojosa serves as vice chair of the Texas Legislative
00:04:57.840 Progressive Caucus, and Rice University political scientist Mark Jones has consistently ranked
00:05:03.260 her among the most liberal members of the state house.
00:05:06.760 During her campaign for governor, however, Hinojosa distancing herself from the progressive 0.88
00:05:11.180 label, instead describing her political philosophy as economic populism. Here, an October interview
00:05:17.920 with the New York Times. Progressive politics is associated with culture wars, and I have no
00:05:23.800 interest in fighting culture wars at this time. It doesn't meet the political moment of our time.
00:05:31.020 It is not what 2026 is about. Look, we are facing an almost existential crisis in this country
00:05:39.980 because tech giants are having their way with us.
00:05:44.000 Like there is one fight
00:05:45.440 and we are so caught up in fighting each other
00:05:50.800 in a divided nation,
00:05:52.460 fighting each other over the ways we disagree
00:05:55.020 about social issues and culture wars
00:05:57.220 that we're all about to lose.
00:05:59.720 And so I'm not going to perpetuate that anymore.
00:06:02.860 That message helping Hinojosa appeal to voters
00:06:05.720 beyond the Democrat base.
00:06:07.680 Although many of her policy positions
00:06:09.120 remain consistent with the party's liberal wing. During her time in the Texas House,
00:06:13.260 Hinojosa voted against legislation banning gender transition medical treatments for minors,
00:06:18.340 along with a separate measure restricting access to bathrooms and locker rooms in government
00:06:22.720 buildings based on biological sex. On immigration, Hinojosa opposing two major Republican-backed
00:06:28.840 enforcement laws during her time in the state legislature. She voted against a 2017 law
00:06:33.880 requiring greater cooperation between local law enforcement and federal immigration authorities.
00:06:39.120 and opposed a separate 2023 measure making a legal entry into Texas a state crime.
00:06:44.920 During a recent interview, Hinojosa declining to endorse calls to abolish ICE,
00:06:48.900 but criticizing the agency's enforcement operations
00:06:51.500 and arguing that longtime undocumented immigrants who obey the law should have a pathway to legal status.
00:06:57.320 Education becoming another central issue in her campaign.
00:07:00.680 Hinojosa opposing Abbott's $1 billion private school voucher program,
00:07:04.260 which allows qualifying families to use taxpayer-funded education savings accounts
00:07:08.740 toward private schooling and other approved educational expenses.
00:07:13.000 Hinojosa's economic platform, including another ambitious proposal,
00:07:16.480 direct payments of $1,500 to Texas households.
00:07:20.780 My money in your pocket plan is first $1,500 for every Texas household.
00:07:26.540 That is money we already have in a savings account, $27 billion.
00:07:30.680 We've never had so much money in that savings account.
00:07:33.620 I would take it back down to what's been historically $10 billion
00:07:37.300 and send the rest back to the people of Texas, which amounts to $1,500 for every Texas household.
00:07:44.520 The Texas Tribune reporting that the plan would require approval from two-thirds of
00:07:48.200 state lawmakers in both chambers, meaning Hinojosa would need Republican support to
00:07:52.620 deliver on that promise. Hinojosa taking aim at the rapid expansion of AI data centers as well,
00:07:58.260 proposing a moratorium on new construction until lawmakers establish additional protections
00:08:03.060 for local communities and natural resources.
00:08:07.300 House Speaker Mike Johnson deciding not to seek the Republican minority leader position,
00:08:12.740 stepping aside from party leadership following the GOP's devastating midterm losses.
00:08:17.560 Speaker Johnson informing his staff of the decision yesterday morning,
00:08:20.340 just hours after Democrats secured control of the House in a sweeping election victory.
00:08:26.160 NBC News now projecting Democrats will hold 258 House seats to Republicans 177,
00:08:32.660 giving the incoming majority an 81-seat advantage.
00:08:36.500 Speaker Johnson's decision ending a three-year tenure atop the House Republican Conference,
00:08:40.860 which began in October 2023 after the historic ouster of then-Speaker Kevin McCarthy.
00:08:46.820 The Louisiana Republican becoming the compromise candidate after weeks of infighting,
00:08:51.820 eventually securing the gavel despite having relatively little leadership experience.
00:08:56.340 Speaker Johnson going on to develop a close relationship with President Trump,
00:09:00.500 helping advance the administration's legislative priorities
00:09:03.100 while managing one of the narrowest House majorities in modern history.
00:09:07.420 Throughout the midterm campaign,
00:09:09.020 Speaker Johnson repeatedly predicting Republicans would defy expectations
00:09:12.880 and retain control of the chamber.
00:09:15.620 Instead, the party suffering major losses across the country,
00:09:19.120 prompting calls for a change in Republican leadership.
00:09:22.320 Speaker Johnson winning re-election to his Louisiana congressional seat
00:09:25.380 and expected to remain in the House when the new Congress convenes in January.
00:09:29.820 Two prominent Republicans now competing to replace him,
00:09:32.300 House Majority Leader Steve Scalise of Louisiana, and Judiciary Committee Chairman Jim Jordan of
00:09:37.880 Ohio. Scalise previously serving as Minority Whip from 2019 through 2022, before becoming
00:09:43.960 Majority Leader when Republicans regained control of the House in 2023. A close ally of Speaker
00:09:49.680 Johnson, Scalise spending years building relationships across the Republican Conference.
00:09:54.920 Jordan, a founding member of the Conservative House Freedom Caucus,
00:09:57.820 drawing much of his support from the party's right flank.
00:10:01.280 The two previously facing off for the speakership following McCarthy's removal in 2023,
00:10:05.920 Scalise winning the nomination in an internal vote,
00:10:08.540 before withdrawing after failing to secure enough support to win on the House floor.
00:10:13.300 Jordan subsequently failing to win the speakership in three floor votes,
00:10:16.840 ultimately clearing the way for Speaker Johnson.
00:10:19.260 Now, Jordan formally announcing his latest leadership bid in a letter to Republican
00:10:23.280 colleagues yesterday, arguing the party needs to rethink its strategy after Tuesday's defeat.
00:10:28.680 The Ohio congressman calling for Republicans to take a more aggressive approach against the
00:10:33.460 incoming Democrat majority while rebuilding public confidence in the party's ability to
00:10:38.040 deliver on its promises. Scalise positioning himself as an experienced leader capable of
00:10:43.460 unifying the conference and helping Republicans reclaim the majority in 2028. President Trump
00:10:49.160 asked about the contest yesterday. We'll stay out of it. Jim was, I think he was really,
00:10:58.920 all of them, everybody that we're dealing with. But the speaker was fantastic. The people under
00:11:06.660 him were fantastic. All good people. I guess right now you have two candidates, right?
00:11:11.880 Axios reporting that some House Republicans are demanding a complete overhaul of the leadership
00:11:16.120 team following the election losses. Candidates facing a Friday deadline to enter the races
00:11:20.900 ahead of internal Republican leadership elections scheduled for Tuesday, November 10th.
00:11:25.580 Democrats, meanwhile, preparing to nominate New York Congressman Hakeem Jeffries as the next
00:11:30.000 speaker. Jeffries yesterday celebrating his party's commanding victory. Mike Johnson was correct.
00:11:37.400 the polls were wrong. It wasn't simply a blue wave. It was an American tsunami. House Democrats
00:11:48.420 have decisively taken back control of the Congress. We will win at least 255 seats,
00:12:00.620 if not more, once every vote has been tallied. It's a historic majority.
00:12:10.120 Coming up, a record number of Democratic socialists heading to Congress after ousting
00:12:15.200 longtime incumbents and establishment-backed Democrats. And stocks soar in the wake of the
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00:13:56.080 membership, as Congresswoman Alexandria Ocasio-Cortez of New York and Rashida Tlaib of
00:14:00.500 Michigan are currently the organization's only two members serving in the House. The victories
00:14:05.500 coming largely in safely Democrat districts, where socialist challengers spent the primary
00:14:09.900 season defeating longtime incumbents and candidates backed by the party establishment. The DSA
00:14:15.360 operating outside the traditional two-party structure, backing Democrat candidates who
00:14:19.780 support its agenda of fundamentally restructuring American government and the economy. The national
00:14:24.780 desk outlining the organization's agenda during its election coverage Tuesday night.
00:14:29.540 Just quickly want to run through some of these policies. So we have abolishing the Senate
00:14:33.540 and Electoral College, abolishing ICE, abolishing police and prisons,
00:14:38.280 expanding voting, free education, and also rewriting a brand new constitution.
00:14:44.520 The movement's electoral success, particularly evident in New York,
00:14:48.000 where two DSA-backed candidates are heading to Congress after defeating powerful figures
00:14:52.060 in the Democrat establishment. Daryaliza Avila-Chevalier winning New York's 13th
00:14:57.100 Congressional District, covering Upper Manhattan and portions of the Bronx, following her primary 0.99
00:15:01.900 upset of Congressman Adriano Espalot, the chairman of the Congressional Hispanic Caucus.
00:15:07.280 In neighboring Brooklyn and Queens, Democrat State Assemblywoman Claire Valdez winning the
00:15:11.540 seat being vacated by longtime Congresswoman Nydia Velasquez. In Michigan, Donovan McKinney
00:15:16.900 winning Detroit's 13th Congressional District after ousting incumbent Democrat Congressman
00:15:21.660 Shri Tandahar during the primary. McKinney, who received the backing of Congresswoman Rashida
00:15:26.540 Tlaib, campaigning on Medicare for All, universal child care, and eliminating corporate contributions
00:15:31.980 to political campaigns. His primary campaign featuring sharp disagreements over Israel
00:15:36.680 as Tandahar, a former DSA member, previously left the organization over its members' reaction to
00:15:42.500 Hamas' October 7th terrorist attack. Another longtime incumbent losing to the socialist
00:15:47.520 movement in Colorado, where 29-year-old Malat Kuros defeated Congresswoman Diana DeGette in
00:15:52.880 the Democrat primary, ending her nearly three decades representing the Denver area. Kuros,
00:15:58.320 a former attorney born in Ethiopia, making opposition to Israel a central issue in her
00:16:02.800 campaign. In Pennsylvania, Democrat State Representative Chris Robb winning Philadelphia's
00:16:08.020 heavily Democrat third congressional district. The incoming congressman arguing that proposals
00:16:13.260 once dismissed as politically unrealistic, are now gaining traction with voters.
00:16:18.100 This is a really important moment in time where there are people who are leading with
00:16:23.060 things that previously were considered non-viable, whether it's Medicare for All or universal
00:16:28.920 child care or social housing or federal job guarantees.
00:16:34.620 All of these things now are in the mainstream.
00:16:37.260 We're actually having conversations about socialism, about capitalism.
00:16:41.420 all the things that, you know, were on the sideline because corporate media and other
00:16:47.860 institutions eschewed those types of conversations. The socialist movement securing another victory
00:16:54.140 in California, where the Associated Press is projecting Angela Gonzalez-Torres as the winner
00:16:58.680 of the state's 34th congressional district. Gonzalez-Torres defeating incumbent Democrat 0.94
00:17:03.540 Jimmy Gomez in an election featuring two candidates from the same party, following an
00:17:07.500 endorsement from the DSA's Los Angeles chapter. In Michigan, progressive activist William Lawrence
00:17:12.300 defeating Republican Congressman Tom Barrett in the state's competitive 7th Congressional
00:17:16.760 District. Lawrence distanced himself from his past membership with the DSA during the campaign,
00:17:21.840 allowing his membership to lapse in July, arguing that ideological labels divide voters.
00:17:27.340 Now, the growing socialist faction could become a new source of conflict for Jeffries,
00:17:31.780 who is preparing to become the first black speaker of the House following Democrats'
00:17:35.600 sweeping midterm victories. According to NPR, none of the incoming lawmakers elected with DSA
00:17:41.040 endorsements has publicly committed to supporting Jeffries for Speaker. Wall Street surging
00:17:48.160 yesterday in the wake of Democrats sweeping midterm victories as investors assess what
00:17:52.640 the election results could mean for the economy and President Trump's agenda. The Dow Jones
00:17:57.140 industrial average jumping nearly 1,600 points, closing more than 3% higher in its strongest
00:18:02.860 performance since April of last year. The broader S&P 500 gaining nearly 1.6%,
00:18:08.240 while the tech-heavy Nasdaq climbed 1.4%. Wall Street now preparing for a dramatically
00:18:13.580 different political landscape in Washington as Democrats take control of both chambers of
00:18:17.900 Congress for the final two years of President Trump's administration. Bloomberg Equities
00:18:22.620 reporter Matthew Griffin explaining why investors have traditionally viewed divided government
00:18:26.860 favorably. President Donald Trump will still have a veto. He clearly plans to use it. And so that
00:18:32.820 means that the legislative outcome of even a blue wave here may not be that different than a narrow
00:18:41.260 victory or a divided Congress. And that means investors don't have to worry as much about
00:18:46.220 policy. That means that they can focus on corporate fundamentals on the economy, which are
00:18:51.660 strong. Markets love gridlock. That's something I had heard repeatedly leading up to the vote.
00:18:57.320 you also have treasuries catching that bid. Potentially expectations for lower government
00:19:03.200 spending are feeding in there. That can support the equity market. The election results producing
00:19:08.260 winners and losers across Wall Street. According to the Associated Press, healthcare companies and
00:19:13.120 discount retailers posting some of the strongest gains as investors anticipate Democrats could
00:19:18.160 push to reverse cuts to healthcare and food assistance programs. Renewable energy companies
00:19:23.460 rallying on expectations of greater support from Congress, while some defense contractors
00:19:28.140 and artificial intelligence businesses suffered losses.
00:19:31.900 Investors anticipating tougher scrutiny of the rapidly expanding AI industry, particularly
00:19:36.700 the construction of massive data centers that consume enormous amounts of electricity.
00:19:41.480 Companies closely associated with President Trump and Elon Musk facing significant losses.
00:19:46.740 Shares of Trump Media and Technology Group, the parent company of True Social, plunging
00:19:50.860 more than 23%, while Tesla stock falling 2.6%. Beyond the political shakeup, a sharp decline in
00:19:58.320 oil prices helping lift the broader market. Brent crude, the international benchmark,
00:20:02.760 dropping nearly 9% to just under $95 a barrel. That'll do it for your AM update. I'm Emily
00:20:11.140 Jashinsky, host of Afterparty. Go on, check out more at afterpartyemily.com. Catch the Megan
00:20:15.880 Kelly show later today, live on SiriusXM's The Megan Kelly Channel, 111 at noon east
00:20:20.160 on youtube.com slash megankelly and all podcast platforms.
00:20:28.080 How does Edward Jones do money differently?
00:20:31.980 Our financial advisor would listen to us and actually really get to the meat and potatoes
00:20:36.740 of what our lifestyle is and what we believe in.
00:20:40.760 Knowing our financial advisor was always there.
00:20:44.060 We can call him with anything at any time.
00:20:48.240 We do money differently by providing advice that actually fits you.