I believe a good bit of the 'Incumbent Unpopularity' is related to the $79 Trillion 90% to 1% heist.
The US-specific Epidemic of 'Deaths of Despair' (Case & Deaton) is another likely effect. (3 links)
www.nationofchange.org/2025/03/05/s...
www.nytimes.com/interactive/...
The NBER article is illuminating.
1 Partisan polarization reduced EV margins; most states are 'safe'.
2 The $79 Trillion 90%=> 1% heist hugely damaged the 90%;
they're unhappy, so incumbents, who haven't reversed this, suffer.
www.nber.org/system/files...
www.nationofchange.org/2025/03/05/s...
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