Lawrence Kudlow proclaims in his latest column that “markets love the Scott Walker landslide.”

[S]tock market investors prefer low taxes to high entitlement spending. The grassroots taxpayer tea party revolt that carried Scott Walker to victory is alive and well around the country. (By the way, in California, San Diego and San Jose just voted in government-union pension cuts.)

Collective-bargaining restraint, higher copays for pension and health care benefits, and an end to mandatory dues-paying for Big Labor’s political slush funds are all bullish policies that come out of the Scott Walker win. So is a huge drop in government-union membership in Wisconsin.

Public-sector unions are in retreat.

The stock market is a gauge of future economic growth. Balanced budgets without income-tax hikes in Wisconsin, plus lower property taxes as a result of Walker’s leadership in curbing government-union excesses, is a national message for economic growth.

And at the national level it seems clear that Romney gets all this. He gets smaller government, Social Security and Medicare reform without tax hikes, and quite possibly pro-growth tax reform. In other words, Romney understands the game-changing nature of the Walker victory.