The giant Red Wave didn't happen: President Joe Biden on US mid-term polls

US President on Wednesday, called the mid-term elections a "Good Day" for Democracy and took a dig at Republicans stating that the Giant 'Red Wave' did not happen.

While delivering the remarks at the mid-term polls, Biden said "Our Democracy has been tested in recent years, but with the votes of American people we have proved once again that it's Democracy who we are," he said.

He further remarked at the 'Red Wave' that the Republicans were quite hopeful for in the midterm polls.

"The whole results are not known yet, but is what we know, the press and the pundits are predicting that the giant 'Red Wave' didn't happen," he said.

Biden also said that the Democrats did lose seats but the loss is lesser than what was being expected by many.

"Many good Democrats were not able to win, but still we lost fewer seats than a Democratic President in last 40 years. Also, we had the best mid-term for governors since 1986," he further said.

Biden also took a dig at former President Donald Trump and Florida governor Ron DeSantis. On being asked about who would be tougher competition in the general election, Biden said "It would be fun watching them take on each other."

However, Biden hinted that in early 2023 he will be making up his mind on whether he will be running for reelection.

The president stressed that he intends to run again, but he doesn't feel pressure to announce his reelection campaign, regardless of whether former President Trump announces another White House bid.

"I hope Jill and I get a little time to actually sneak away for a week around, between Christmas and Thanksgiving. My guess is it will be early next year we make that judgment," he said.

The US President claimed that the country is in a much better position than what he inherited at the start of his presidency.

"We inherited a nation that was raging with the pandemic and the economy was reeling. We have taken several steps which are getting underway, and the results will be seen in January, and February next year. Unemployment is down from 6.4% to 3.7%, which is a fifty-year low. We have done all this by lowering the federal deficit by $1.7 trillion dollar," he said.

The US President also expressed optimism on the potential prisoner swap for securing the release of U.S. basketball star Brittney Griner.

"My hope is, now that the election is over, that Mr Putin will be able to discuss with us and be willing to talk more seriously about prisoner exchange," Biden said.

Earlier on Tuesday, Electors across the US voted to decide whether the Democrats or Republicans will control the Senate and House of Representatives.

As per the latest trends, Republicans are leading in 186 seats while Democrats are ahead in 162 seats in the House of Representatives. Meanwhile, in Senate, there is a cliffhanger position with both parties tied at the lead in 46 seats, reported CNN projections.

Although it is still possible for the Republicans to win majorities in the House and Senate, the GOP margin in the House appears likely to be narrow, and Democrats have a fighting shot of retaining the Senate majority, the Hill reported.

Some of the top issues for American voters during this election cycle included inflation, threats to democracy, crime, immigration and border security, and abortion.

The results of the midterms will affect investors and the stock market for weeks to come after the elections are over. The rising cost of living and inflation may accelerate depending on the stock market's reaction.