The fact that Republicans are registering more voters than Democrats really doesn't tell us much. Listen to the polls instead.
1. As I tweeted earlier, party registration ≠ vote intention. Even if it were, there are a lot of newly registered independents who could vote either way!
2. Democrats had a competitive presidential primary during which they registered a ton of voters. So it's not all that surprising that general-election registrations would tilt Republican.
3. The polls are just answering the question you're trying to answer with registration numbers, but more directly. They ask specifically about vote intention, not some vaguer proxy, and they focus specifically on likely voters. Turnout matters.
4. This! New voter registrations are one thing. Ancestral Dems who've voted Republican for 20 years just now getting around to switching their registration are another. https://twitter.com/beardedcrank/status/1316806167457345536
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