US President Donald Trump said the country could face an economic crisis comparable to the Great Depression of 1929 if Democrats win the 2026 midterm congressional elections. He made the remarks during a speech in Alaska broadcast by LiveNOW from FOX on YouTube.
According to Trump, a Democratic victory would bring economic collapse, while a Republican win would deliver unprecedented economic growth. He also claimed that, in that scenario, every resident of the country would receive $5,000.
The US midterm elections are scheduled for November 3, 2026. Voters will re-elect 35 of the Senate’s 100 members, choose all 435 members of the House of Representatives, and elect governors in 36 states.
Earlier, Reuters and The New York Times reported that SpaceX chief Elon Musk spent about $366 million during the 2026 midterm campaign. Of that amount, $276 million has been directed since July toward helping Republicans keep control of Congress, according to those reports.
Against that backdrop, Musk has become the largest political donor in the United States. Trump’s comments underscore how central the economy remains to the current election campaign.
