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"The net effect of the referendum was to DRAIN Senate Republicans of their financial reserves with the result that the focus will shift to who gets into runoffs in the fall".

I agree with this observation. One can only think of the recent past with respect to the former GOV contender, GOP Meg Whitman. Even with the unprecedent millions of dollars spent and "drained" in the push for her campaign, the end result spent on the race to State Capitol didn't bear fruit-full.