DeSantis remains Trump’s closest challenger, but his support has been dropping over the past several months: He currently trails the former president by nearly 40 percentage points in our national polling average.

With that drop have come some shake-ups in the DeSantis campaign. The campaign has laid off around one-third of its 92-person staff, with the latest cuts coming in July, according to ABC News. Changes stretched all the way to the top: DeSantis replaced his campaign manager with his governor’s office chief of staff. On top of that, some of his top donors have voiced concerns, saying they want DeSantis to recruit more major donors and take a more moderate approach on social issues.

All of that has made this debate crucial for DeSantis, both in terms of trying to chip away at Trump’s lead and proving to his supporters that he actually has a shot. He’s recruited a veteran debate coach and is getting advice from a supportive super PAC, according to The New York Times. That advice? Rather than attack the front-runner, DeSantis should “take a sledgehammer” to Ramaswamy who, unlike DeSantis, is rising in the polls. DeSantis won’t just be trying to win the debate tonight: He’s also aiming to push back against the rolling tide of news that hints at a flailing campaign.

-Analysis by Monica Potts of FiveThirtyEight

DeSantis and Ramaswamy, both newcomers to the presidential debate stage, will appear front and center on Wednesday night.

That's because where candidates will stand was determined by how they are faring in the polls.

More seasoned politicians, such as Pence or Christie, have been placed closer to the outer rim because of their more middling numbers so far. Hutchinson and Burgum will stand on either end.

-ABC News' Alexandra Hutzler

Money isn’t the be-all-and-end-all of political campaigns — but it sure helps, especially during the early phases of a primary. And in the 2024 pocketbook primary, the leaders so far are Trump (who raised $17.7 million in April, May and June) and DeSantis (who raised $20.1 million). These figures are striking, but you also have to account for how much time each candidate has been in the race. For instance, DeSantis jumped in in late May, so he had much less time in which to raise that money than Trump. Here’s a chart of who raised the most in the second quarter on a prorated basis.

But there’s also important context that those topline fundraising numbers don’t tell you. For instance, Burgum’s and Ramaswamy’s totals aren’t as impressive as they look — most of their fundraising came from their own wallets rather than from grassroots donors. Burgum self-funded $10.1 million of his $11.8 million haul, and Ramaswamy self-funded $5.0 million of his $7.7 million total.

On the other end of the spectrum, Scott is in better financial shape than his $5.9 million raised would suggest. That’s because he has more than $21 million cash on hand, thanks to money he carried over from his high-rolling Senate campaigns.

-Analysis by Nathaniel Rakich of FiveThirtyEight

One challenger to Trump has surged ahead — in ad buys, at least. Scott announced an $8 million ad buy this month. The bulk of that, $6.6 million, will go toward TV advertisements in early primary states Iowa and New Hampshire, according to the Washington Post. That’s on top of the $40 million ad buy planned by a super PAC supporting Scott that was announced last month.

Trump and DeSantis, the two front-runners, had dominated in early ad spending. But challengers like Scott have stepped up as they’ve tried to qualify for debates and raise name recognition in early voting states. Super PACs supporting Haley and Burgum have also increased spending recently. Stand for America Fund, Inc., which is aligned with Haley, spent $2.3 million on ads so far in August, while Best of America, which backs Burgum, has spent $2.1 million, according to reporting from NBC News.

Meanwhile, Trump-supporting PACs have spent millions on the former president’s legal fees as the number of indictments filed against him has risen to four. That will leave less money for spending on ads going forward, but Trump remains the top campaign fundraiser.

-Analysis by Monica Potts of FiveThirtyEight

Why are voters so dissatisfied with Biden’s economy?

That’s one of the questions that will shape the 2024 race as Republicans gear up to select a presidential challenger. Right now, only 36 percent of American adults approve of Biden’s handling of the economy, according to an AP-NORC poll from Aug. 10-14. Similarly, a Fox News poll from Aug. 11-14 found that only a quarter of American voters say Biden’s policies have made the economy better. Some of this is affected by partisanship: A large majority of Republicans disapprove of his handling of the economy, but Democrats aren’t over the moon either, with only about two-thirds approving, according to the AP poll.

It’s tempting to think this is all a hangover from last summer’s doldrums, when inflation peaked at 9.1 percent last June. Consumer prices might be the most obvious way that everyday Americans interact with the economy. Inflation today is still 3.2 percent higher compared to this time last year, which means prices are still above what they were before the pandemic.

The fact that the job market remains strong, with unemployment at historic lows and wages rising, hardly makes an impact when people feel like they’re spending more every time they go to the grocery store and are struggling to pay down debts amid high interest rates. But the truth is, Americans’ view of the economy overall was low when Biden took office during the wobbly beginnings of the COVID-19 recovery, and has never risen above 50 percent.

What do people want from federal policy? They support measures such as taxing the wealthy and corporations more — more than three-quarters of all Americans approve, including 90 percent of Democrats and 63 percent of Republicans, according to an Ipsos/Reuters poll. As it happens, that policy is part of Biden’s Inflation Reduction Act, his signature inflation-fighting legislative win, but less than half of Americans say they know about the bill.
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Biden is working to promote the Inflation Reduction Act and other legislative accomplishments as part of “Bidenomics,” but the fact that there’s a gap between what Biden is doing about the economy and how people feel about it leaves plenty of room for Republican attacks. Indeed, DeSantis has promised to roll back Biden’s economic policies. And the polling so far suggests that, even if the economy improves even more in the next year, Biden might not get credit for it.

-Analysis by Monica Potts of FiveThirtyEight