Sep 25, 2026 · 20 min
Republicans brace for a Democratic midterm wave
Panic! At the G.O.P. Disco
Republican vulnerability is colliding with economic pressure, while questions about political fundraising expose a separate accountability problem.
- 1Polling and voter concerns about Trump, prices, and the Iran war are fueling unusual Democratic confidence ahead of the midterms.
- 2High advertising costs and Trump’s declining approval could limit Republicans’ ability to reverse unfavorable political conditions.
- 3N Citizens United raised nearly $23 million while directing little toward candidates, prompting scrutiny of fundraising and overhead practices.
Don't miss
Leigh Ann Caldwell explains how fundraising appeals promised a Troy Jackson ad despite no campaign-ad spending appearing for N Citizens United at the time.
The brief
Democrats are showing unusual confidence ahead of the midterms as polls turn favorable in House, Senate, and gubernatorial contests, though the hosts caution that candidates still must finish the race.
Peter Hamby and Leigh Ann Caldwell trace Republican anxiety to Trump’s declining approval, high grocery and gas prices, and pressure on him to address the Iran war.
The hosts weigh whether Trump can spend enough to change the trajectory, given high advertising costs and the limited recent spending by MAGA Inc.
Caldwell’s reporting on N Citizens United shifts the episode from electoral math to political finance: the group raised nearly $23 million while spending little directly on candidates.
A promised ad for Maine candidate Troy Jackson becomes the sharpest example, after fundraising appeals cited advertising that had not appeared in the relevant system before a later $1 million commitment.