last but not least our moderator will be megan mcardle, she wrestled economics if this is a public policy. is behind the popular blog. she is currently completing her term asan ip felt -- as an ipo fellow. [applause] quick i'm going to start off by asking you a question, ramesh. 2014 is a great year for republicans. a decent, sizable wave. why do conservatism needs to be performed? >> first, it is ok to [indiscernible] i think that one thing that republicans should have learned in recent years which is very different from the presidential electorate. you can be very good [indiscernible] that's for a couple of reason. it is easier to get people to let you apply the brake paddle fan to get control over the steering will. presidential elections the people think of steering wheel elections if they need to know the republicans take them somewhere they want to go. >> the obama metaphor. >> the other thing that's always been a demographic distinction between looters out in midterms and also turnout in presidential elections. for example, the midterm electorate is older and wider. in recent years

last but certainly not least our moderator this evening is megan mcardle, a bloomberg view columnistho writes on economic, business and public policy and is behind the popular blog asymetric information. she is currently completing her term as an i.o.p. fellow. we have a ton of talent here today. please welcome me in welcoming the participants. [ applause] >> so i'm going to start off by asking you a question, ramesh. 2014 was a great year for republicans. right? we had maybe not a tsunami but certainly like a decent, sizable wave. i say we as a nation not personally as a republican. why does conservativism need to be reformed? >> first of all, it's okay to say you're republican if you are. well, you know, i think that one thing that wps should have learned from recent years that its mid-term electorate looks very different from the presidential electorate. and you can be very good at winning elections without having what it takes to win presidential elections. that's for a couple reasons. one, it is easier to get people to let you apply the brake peddle than to give you control of t