Five weeks ago, I started talking to the team at the The Cook Political Report, one analyst at a time. This week I closed it out with the one I’d saved for last on purpose: David Wasserman, senior editor and the guy whose “I’ve seen enough” has closed out election nights for over a decade.
I told him going in I wouldn’t hold him to a prediction. He didn’t need the disclaimer. “The numbers have gone from very bad to extremely bad for President Trump and Republicans,” he told me, then walked me through exactly why that still isn’t the same thing as a sure thing.
Independents have Trump’s favorability sitting in the mid-20s. That’s a wave-election signal, by his own description. And yet Republicans still have the map. Democrats need every purple Senate seat plus two states Trump carried by double digits in 2024. Gerrymandering ate most of what should have been an easy House flip. So David gives Democrats 75 to 80 percent in the House and something close to a coin flip in the Senate. Bad numbers. Not a landslide.
What struck me most wasn’t the math. It was what he said drives it. “Everything falls under the bucket of inflation, or most everything,” he told me — healthcare premiums, gas and fertilizer prices after the Strait of Hormuz closed, tariffs squeezing farmers who voted for this. He doesn’t think those voters defect to the other side. He thinks they just stay home. James Carville figured that one out in 1992. Some things do not age.
He also let me in on something that should worry anyone who reads a poll and calls it a fact: pollsters are now modeling the views of the country off the roughly 1 percent of people who bother to pick up and answer. The best data, he said, rarely even makes it out publicly. Everyone else is reading a narrower picture than they think they are.
We closed on Iowa, which he called the most important state of 2026 — a Senate race, a governor’s race and a state more exposed to foreign trade than nearly any other in the country, all on one ballot.
Five conversations. Five people who do this work with more precision, more humility and more generosity than I expected going in. To Erin Covey, Carrie Dann, Amy Walter, Kathryn Hamm, Jessica Taylor and David Wasserman: thank you for trusting this show with your time. It was a genuinely great month.
Three moments from the conversation, below.
Key Quotes
“The numbers have gone from very bad to extremely bad for President Trump and Republicans.” — David Wasserman
“Everything falls under the bucket of inflation, or most everything.” — David Wasserman
“We’re relying in some cases on the 1% or less of people who are agreeing to take the survey to model the attitudes of the other 99%.” — David Wasserman
Takeaway
The environment is bad enough for Republicans to look historic, and structurally advantaged enough that it might not be. Whoever tells you they already know how November ends is skipping the second half of that sentence.
