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Photo: Mark Makela / Getty Images

Over the past few weeks — especially since Roy Moore's defeat — sources close to Trump say he's finally recognizing a harsh reality: If Republicans lose the House in 2018, it will pose an existential threat to his presidency, with endless investigations, legislative obstruction and a likely move toward impeachment.

"Oh, he gets it," a source who's recently spoke to Trump told me.

  • Some of Trump's trusted advisers are stressing the crisis-level stakes of the 2018 midterms. Many believe that the White House's political shop, run by Bill Stepien, has proven useless. And they say the Trump-endorsed outside support group, America First, is equally ineffectual. One top administration official described it to me as "not necessarily inept, but certainly inert."
  • Brian O. Walsh, a top official at America First, responded to the criticism by saying: "In just a few months, we've taken America First from inception to an operation that's raised over $30 million and spent more money championing the accomplishments and supporting President Trump than any other organization. In 2018, we will be even more aggressive, and are optimistic that we will get the support needed to do so."

At a recent lunch with Trump, former chief of staff Reince Priebus said 2018 is as serious as a heart attack— and that Republicans will only keep control of the House if everything goes perfectly.

  • Sources who've spoken to Priebus say he's pessimistic about next year and is concerned that the White House doesn't have a single ringleader who can galvanize Republican leaders around the country.
  • To emphasize the potential calamity, Priebus, the former RNC chair, has been telling GOP leadership that the party needs to own the entire data and ground operation for every single congressional district, and to "spend whatever needs to be spent as if 2020 relies on it."

Senior White House adviser Kellyanne Conway said she thinks the GOP can keep the Congress in Republican hands, but that a to-be-determined liability is if more and more House Republicans retire. She noted that most presidents — including Clinton and Obama — face midterm massacres but then win re-elections.

  • "However, in the age of Trump," she added, "history tends to be made, not repeated."

Conway said she remains optimistic because she believes Democrats "have nothing positive or concrete to run on and wasted the year talking about Russia instead of America, and holding up a stop sign screaming 'resist and obstruct'."

Get more stories like this by signing up for our weekly political lookahead newsletter, Axios Sneak Peek.

Go deeper

UNC race conscious admissions process upheld by judge

Students walk through the campus of the University of North Carolina at Chapel Hill on Aug. 18, 2020 in Chapel Hill, North Carolina. Photo: Melissa Sue Gerrits/Getty Images

The University of North Carolina at Chapel Hill can continue its race conscious admissions process, a federal judge ruled on Monday.

Why it matters: The case could end up in the Supreme Court after the conservative nonprofit Students for Fair Admissions (SFFA) vowed to appeal the judge's ruling that UNC didn't discriminate against against white and Asian American applicants in its policy that it said was designed to increase diversity.

SEC debunks conspiracy theories about meme stock mania

Photo: Alessia Pierdomenico/Bloomberg via Getty Images

The SEC issued its long-awaited report on the meme stock mania, which downplayed the narrative that a "short squeeze" was the primary driver behind GameStop's historic stock moves — and shot down conspiracy theories about the event.

Why it matters: The postmortem was highly anticipated, largely because of what it could hint about what the regulator thinks should be done in wake of the saga. But the report stopped short of specific policy recommendations.

2 hours ago - Politics & Policy

Breaking Biden's diplomatic logjam

Expand chart
Data: Center for Presidential Transition via Congress.gov; Chart: Will Chase/Axios

The logjam for reviewing and confirming President Biden's ambassadorial picks is finally starting to break.

Why it matters: Biden is far behind his predecessors in the rate at which his ambassadorial picks have been confirmed. The Senate Foreign Relations Committee will hold a series of high-profile hearings and votes this week to finally begin chipping away at the backlog.