State of the Day
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Welcome to State of the Day.
Remember when Trump said he’d fight for the little guy?
The People Are Pulling Back — The Billionaires Are Writing Checks
Senate campaigns have shared their third-quarter fundraising totals, and the difference isn’t exactly subtle.
In nine Senate races, Democrats raised a staggering $231.2 million in the last quarter, while Republicans managed just $48.5 million.
If you’re not great at math, that means nearly five times as much cash is flowing into Democratic campaigns.
James Talarico alone pulled in $64 million, with 97 percent of his donations under $100. When GOP Senator Bernie Moreno heard about Talarico’s haul, he exclaimed, “Oh my God, holy crap. I mean, that’s a number that’s mind-blowing.”
Georgia Senator Jon Ossoff also did well, bringing in $33.1 million from over 760,000 donations, averaging around $46 each.
It appears that regular people contributing small amounts can really build a substantial war chest. But it’s not just about the money; it’s also who is contributing, who isn’t, and what that means for the upcoming elections.
Trump’s 2024 victory came from a mix of working-class, young, and disenchanted voters. He promised affordable prices, good jobs, and a government that would support them.
Fast forward two years, and that coalition seems to be cracking.
A Wall Street Journal poll revealed that voters under 30 favor the Democratic candidate by 20 points on a general ballot—a notable shift from 2024, where Trump lost to Kamala Harris by just four points.
Then there’s the economy, the issue that propelled Trump into office.
An AP-NORC poll found that only 17 percent of Americans approve of his handling of the rising cost of living.
Regarding the conflict in Iran, a striking 69 percent of respondents said it wasn’t worth fighting.
So, Americans find themselves grappling with living costs, the administration is tangled in an expensive war, and the Republicans have had two years of control in Washington.
The party representing the working man?
Well, the GOP seems to have a Plan B, and it comes with a lot of zeros.
As reported by The Washington Post, the top 50 political megadonors have contributed about $2.39 billion to the midterms, with Republican-aligned donors responsible for $1.54 billion, compared to $590 million from their Democratic counterparts.
Elon Musk alone has invested $369 million in this electoral cycle—so when fundraising starts to lag, who better to turn to than the richest man in the world?
Of course, Democrats also have wealthy supporters; George Soros has given $102 million, according to WaPo.
It’s worth mentioning these are separate funding sources—candidate fundraising versus donations for political groups.
Trump crafted his political persona around opposing elites, yet his party now relies heavily on the wealthy while its base seems to be drifting to the other side.
And let’s be clear, while billionaires can buy lots of ads, they can’t lower grocery prices just by donating to a super PAC. Nor can they justify soaring diesel prices or convince anyone that the costs of an unwarranted war are worth it.
Ultimately, it’s hard to ignore that the party that campaigned on draining the swamp is now comfortably accepting funds from the very elites it once critiqued, which may only keep the swamp full.
The billionaires aren’t going anywhere, but the voters? That’s a different story.
If polling, fundraising stats, and economic frustrations are any indicators, the Republicans are facing a challenge that no super PAC can fix.
From The Editors’ Desk
The Iran War Is Going To Go Ballistic After Midterms, according to Francis Kapper from the Daily Caller News Foundation, who suggests that the Trump administration could ramp up military actions in Iran post-election, following a reduction in strikes before the midterms.
Here Are the Most Unhinged Ads From The Nearly $80,000,000 AI Slop Spree, by Dylan Kresak, covers the first U.S. election cycle heavily influenced by artificial intelligence in advertising, with a staggering $80 million ad spend, highlighting the mostly unsightly outcomes.
Trump Blames France Violence On Immigration, where President Trump urged France to close its borders amid increasing civil unrest linked to a student strike involving many second- and third-generation migrants, claiming the country is suffering due to immigration.
Musk Vows to Give Each U.S. Child a SpaceX Share, discusses Elon Musk’s pledge to give every U.S. child a share of SpaceX, potentially valuing around $10 billion. Musk claimed this would be just the beginning.
