The most expensive US midterm election ever: Why both sides know they have ...

It's the most expensive U.S. midterm election ever, according to the Center for Responsive Politics (CPR), which estimates that almost $4-billion will be spent. CPR, which tracks money spent in politics, reports that an 'explosion' in outside cash is a dominant theme of the election. The group says at least $663-million has been spent by outside groups, like Super PACs, but estimates another $233-million will be spent in the last 12 days, a rate of $19.4-million a day. And the race for the Senate, which could flip from Democrat to Republican, has attracted huge sums of outside spending - about $338-million, according to the group. The North Carolina senate race is expected to be awarded the dubious honour of being the most expensive in U.S. history with a total of $100-million being spent.

Both sides know they have everything to play for. If Republicans can capture six seats, they can take the Senate and control of Congress. Republicans could then aggressively push policies of free trade, tax reform, and deficit reduction as well as the long-delayed Keystone XL pipeline to carry oil from Canada to the U.S. The election is Nov. 4. So which are the key states to watch and how much outside money has been spent in them?


Here is a look at the most interesting Senate races ahead of the midterm elections on Nov. 4:

ALASKA This state could be a key decider. Democratic senator Mark Begich is up against Republican candidate Dan Sullivan. The state was Republican for years, before opting for Begich in 2008. Polls suggest Sullivan has a slight lead, but in the state they are notoriously inaccurate and untrustworthy.


THEY SAID IT: Begich with 90 staffers (as opposed to Sullivan's 14) has campaigned heavily in Alaska's far-flung communities. 'We have knocked on every single door in rural Alaska. This is unbelievable. No one's ever done it like this - ever,' he told The Washington Post.


ARKANSAS Democratic Senator Mark Pryor is trailing Representative Tom Cotton in the former Democratic bailiwick. Pryor's support for President Barack Obama's agenda, most notably the Affordable Health Act, is the stick Cotton is using to beat Pryor. Pryor counters Cotton is an extremist, pointing to his votes against the Farm Bill, the Violence Against Women Act, etc.


THEY SAID IT: Foreign policy - especially the threat posed by Islamic terrorists - is providing an unexpected boost for Cotton, a former infantryman in the Iraq and Afghanistan wars. 'Folks want to look at people making those decisions and know they've walked the walk,' said Kevin McLaughlin, a spokesman for the National Republican Senatorial Committee.


GEORGIA Money in a Swiss banking account has become a key topic for debate in the open race to become the U.S. senator from Georgia. Democrat hopeful Michelle Nunn is squaring off against Republican David Perdue. With barely two weeks to go, pollsters agree on only one thing - the race is too close to call.


THEY SAID IT: Nunn's campaign is asking pointed questions about Perdue's reported $1-million stashed in a Swiss private bank. He 'needs to be honest with Georgians about his investments, career and how he made millions while those who worked for him often found themselves worse off,' says a Nunn spokesman.



KANSAS What started as a three-way race has turned into two-man slugfest after Democratic hopeful Chad Taylor dropped out. Now Republican incumbent Pat Roberts is trying to fend off a serious challenge from Greg Orman, an independent businessman. But as voting day approaches, the gap has narrowed.


THEY SAID IT: Roberts' campaign has been hammering away at Orman's links to private equity firm CEO Raj Gupta, convicted of insider trading in 2012, and financier George Soros. 'As we've begun to educate people about the real Greg Orman, his support has begun to rapidly decline,' a source close to the Roberts campaign told Business Insider.


MICHIGAN In one of the few races to offer comfort to Democrats, their candidate, U.S. Representative Gary Peters solidly leads the Republican Terri Lynn Land, a former secretary of state, in every public poll. Even Republican observers agree she has little chance.


THEY SAID IT: Part of the problem for Land is the lack of excitement. The race has been 'sort of boring,' says Democratic consultant Mark Grebner. There has been no game-changing remark. There were no debates. so there was 'no zinger moment,' adds Republican consultant Dennis Darnoi.



NEW HAMPSHIRE Former Republican senator Scott Brown from neighbouring Massachusetts could be poised to upset Jeanne Shaheen, an institution in New Hampshire. In doing so, he has to combat charges of being a carpet bagger and opportunist by running in the state where he has a vacation home.


THEY SAID IT: Despite the recent threat posed by the newcomer, analysts believe the former governor will win the day. 'Shaheen is such a known quantity. She's been part of politics in the state for such a long time. And she's running a really good campaign,' said Jennifer Duffy, of the Cook Political Report. 'The only election she's ever lost was the Senate in 2002.'


SOUTH DAKOTA Four-way race between former Republican governor Mike Rounds. Democrat Rick Weiland, former Republican U.S. senator-turned independent Larry Pressler and the Tea Party's Gordon Howie. Rounds is tainted by a scandal over how the state administered its visa program designed to attract foreign capital and which led to an aide's suicide. The Keystone XL pipeline could also be a factor.


THEY SAID IT: Rounds has been hurt by Weiland's hammering away at the visa scandal, to the extent coverage of all other issues has been nearly non-existent. 'I'm running for the Senate but I ain't a big wheel. I don't have an RV just my automobile. Hey, hey, no one's bought me,' sings Weiland in a folksy, cheeky video.


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