Hillary Clinton has tons of cash, but she can’t shake off Bernie Sanders. Donald Trump keeps threatening to spend his own money, but he hasn’t had to use much of it. He’s leading the Republican field, feasting on free media coverage, while spending a fraction of what his rivals, and super PACs promoting them, have spent. If his rivals hadn’t been able raise large sums the GOP race would probably be over—Mr. Trump’s celebrity, name recognition and charisma would already have carried the day.

My prebuttal in WaPo: Money Can’t Buy You Jeb But It Still Skews Politics