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How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

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1

How Scott Bessent used financial engineering to finance the $2 trillion deficit while leaving it untouched—and created a $1.45 trillion shortfall

2

Meet the 33-year-old CEO betting on boomers chasing their grandkids—and millennials selling their first house

3

The tables have turned: Florida and Texas are the biggest losers in the housing market as Ohio emerges a surprise winner

Texas Senate Race May Become the Most Expensive in History

By
Renae Reints
Renae Reints
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By
Renae Reints
Renae Reints
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October 26, 2018, 2:47 PM ET
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The Texas senatorial race between Republican incumbent Ted Cruz and Democratic challenger Beto O’Rourke is set to be the most expensive in U.S. history, with over $100 million raised, the Houston Chronicle reports.

Prior to this, the most expensive general election for the senate was for the Massachusetts seat in 2012, when the incumbent, Republican Scott Brown, and eventual winner, Democrat Elizabeth Warren, spent more than $77 million combined.

O’Rourke has raised nearly $61 million as of Oct. 1, Axios reports, compared to Cruz’s $40 million. This does not include the funding from super PACs, which will likely number millions more.

According to the Center for Responsive Politics, however, the two have only spent a combined $62 million as of Sept. 30, although they’re likely to spend much more in the final weeks leading up to election day.

While O’Rourke leads Cruz in fundraising and spending, the polls give Cruz a nearly 7-point lead on average.

O’Rourke has led a social media–driven campaign and visited each of the 254 counties in Texas, the Houston Chronicle reports, including predominately red areas. Cruz has the backing of President Donald Trump, who nicknamed the senator “Beautiful Ted” after rescinding his former title, “Lyin’ Ted.”

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