Local time on November 8, the United States biennial midterm elections officially kicked off. Since the 2020 election, the two parties in the United States have become increasingly polarized and the social divide has intensified. In the race for control of both houses of Congress, Democratic and Republican supporters are spending money like crazy, with total spending expected to exceed $16.7 billion this year.

Why is this the most expensive midterm election in history? And who's behind it?

There hasn't been a midterm election

More expensive than 2022

In the second year after taking office, US presidents have to go through a "midterm exam", that is, midterm elections. Both houses of Congress, governors and some seats in local executive and legislative offices are up for election in the midterm elections.

The congressional elections are the highlight of the midterm elections. The U.S. Senate has 100 seats that serve six-year terms, one-third of which are up for election every two years. 35 seats are up for election this year. All 435 seats in the House of Representatives are up for election in this year's midterm elections, giving control to the party that wins at least 218 seats. Currently, Democrats control 220 seats, Republicans 212, and three seats are vacant.

In the battle for control of the House of Representatives, Democratic and Republican supporters are "throwing money like crazy." Open Secrets, a non-partisan database of political contributions, predicts that total campaign spending will exceed $16.7 billion.

American Fox News recently disclosed a list of "behind the money" -

1. George Soros, $128 million

Billionaire financial tycoon George Soros topped the list of donors, giving $128 million to the Democratic Party. He is a thorn in the side of radical supporters of the Republican Party, and some believe he is a member of the so-called "deep state."

2. Richard Uhlein, $80.7 million

Richard Uhlein, a shipping magnate, and his wife contributed $80.7 million to Republican candidates. It also makes him the largest individual Republican donor for the 2022 midterm elections.

3. Kenneth C. Griffin, $68.6 million

Another Republican donor, Kenneth C. Griffin, chief executive of the hedge fund Citadel, gave $68.6 million in hopes of "promoting talented candidates and expanding the Republican tent to make it more representative of America."

No. 4 Jeffrey Yass, $44.07 million

Jeffrey Yass, the founder of Quant Trading, a longtime Republican donor who backs Republican candidates who favor lower tax rates and less government regulation, has given $44.07 million to date.

In addition, small donors alone, who gave $200 or less, have contributed a cumulative $1.1 billion, double the amount in 2018.

Since the 2020 election, the two parties in the United States have become increasingly polarized and social divisions have intensified, and politics has gradually evolved into a zero-sum game, with companies and individuals feeling the need to up the ante to protect their interests.

According to CNBC, this election cycle, the majority of donations from wealthy individuals have gone to conservative groups or candidates for Republicans. The large amount of money spent on elections highlights concerns about the growing influence of the super-rich in elections.

"If we're going to have a democracy that works for everyone, we need to more tightly limit the influence of billionaires on our politics," said Frank Clement, executive director of Americans for Tax Fairness.

'America Faces a crossroads'

Why do they spend so much money on election campaigns? Because this election is more important than ever.

Both Biden and Trump have hinted at their intention to face off again in 2024, and the outcome of the midterm elections, which are "general election precursors," will largely determine whether they have a chance to represent their parties again.

If the Democrats lose, Biden will not only become a "lame duck" for the remaining two years of his term, but also find it difficult to seek re-election. If the Republican election is not satisfactory, Trump will lose the support of party members and will face a strong challenge from other potential presidential candidates.

In previous years, the party holding the White House has tended to suffer setbacks in midterm elections. This has almost become a big invisible "law" in American politics, and Biden seems to be unable to escape this "spell."

Polls show a majority of Americans disapprove of Biden's handling of crime, immigration and inflation, and pessimism about the economy is pervasive, so voters may express their dissatisfaction with the country's direction by voting against the party in power. For now, Biden's approval rating remains near the lowest level of his presidency, around 40%.

"If the Democrats lose badly, you could see a strong push for Biden to drop out of the 2024 race," said Thomas Allen Schwartz, a presidential historian at Vanderbilt University.

Some Republicans in Congress have said they intend to introduce articles of impeachment against Biden if the party wins the House or even the Senate in the midterm elections.

In addition, the results of the midterm elections will also affect the future direction of domestic and foreign affairs of the United States. That's because in the coming years, Democrats and Republicans will hold opposing views on some of the biggest issues facing the United States and the world, including abortion rights, the crisis in Ukraine, climate change and refugee policy, and changes in American positions and policies will have an impact on the world.

The last votes have yet to be cast in the midterm elections, and politics in the United States are still volatile, but one thing is certain: the race and the dogfight for the 2024 presidential election have begun.

Source: Chinanews.com