The Golden Report

Thoughts. Musings. Observations. Insight. The Golden Report.

Friday, October 10, 2008

Polling Roundup

National Head-to-Head:

Newsweek (released Sat.) Obama 52%/McCain 44%

Fox News/Opinion Dynamics (released Fri.) Obama 46/McCain 39

Time (released WED.—just for comparison) Obama 50%/McCain 44%

 

Rasmussen Swing State Polling: (Released Thurs)

Florida: Obama 50/McCain 47

North Carolina: Obama 49/McCain 48

Michigan: Obama 56/McCain 40

New Jersey: Obama 50/McCain 42

Indiana: McCain 50/Obama 43

(Released Wed.):

Minnesota: Obama 52/McCain 45

Georgia: McCain 54/Obama 45

Wisconsin: Obama 54/McCain 44

 

These Rasmussen numbers are (much) tighter than some other swing state polling released this week

 

Real Clear Politics Electoral Map Changes over the last three days:

West Virginia from Lean McCain to Toss Up

Note: The McCain Campaign has scheduled a SARAH PALIN swingthrough in WV this week

Virginia: Toss Up to Lean Obama

Minnesota: Solid Obama to Lean Obama

New Jersey: Lean Obama to Solid Obama

New Hampshire: Lean Obama to Solid Obama

 

Note: According to Real Clear Politics (where all the above polling data is provided from), John McCain has not led in a national head-to-head poll, including tracking polls, since September 25th when he led in an outlier GW/Battleground Tracking Poll. For the last substantial (2_+ poll) McCain lead, you have to go back to Sept. 10/11.

 

The Emergency Meeting of G-7 Finance Ministers

This weekend’s big story: The meeting in Washington, DC of finance ministers from the Group of Seven Industrialized Nations in response to what we saw this week is a truly global economic crisis, effecting every market in every corner of the world.

 

Treasury Secretary Henry Paulson spoke at 6:45pm EST this evening, explaining to his counterparts about the Treasury Department’s plan going forward

 

“I briefed my colleagues on the work we are pursuing to implement swiftly and thoughtfully the new financial rescue package. We are developing strategies to use the authority to purchase and insure mortgage assets and to purchase equity in financial institutions, as deemed necessary to promote financial market stability. As we develop plans to purchase equity, as in the approach we are taking to broad mortgage asset purchases, we are working to develop a standardized program that is open to a broad array of financial institutions. Such a program would be designed to encourage the raising of new private capital to complement public capital. Consistent with the legislation, any equity the government purchases through a broadly available equity program would be on a non-voting basis, except with respect to the market standard terms to protect our rights as investors,” he said.

 

Here is the full text of the joint-statement released by the finance ministers, outlining a specific step-by-step plan for their approach:

 

G-7 Finance Ministers and Central Bank Governors Plan of Action

Washington-- The G-7 agrees today that the current situation calls for urgent and exceptional action. We commit to continue working together to stabilize financial markets and restore the flow of credit, to support global economic growth. We agree to:

  1. Take decisive action and use all available tools to support systemically important financial institutions and prevent their failure.
  2. Take all necessary steps to unfreeze credit and money markets and ensure that banks and other financial institutions have broad access to liquidity and funding.
  3. Ensure that our banks and other major financial intermediaries, as needed, can raise capital from public as well as private sources, in sufficient amounts to re-establish confidence and permit them to continue lending to households and businesses.
  4. Ensure that our respective national deposit insurance and guarantee programs are robust and consistent so that our retail depositors will continue to have confidence in the safety of their deposits.
  5. Take action, where appropriate, to restart the secondary markets for mortgages and other securitized assets. Accurate valuation and transparent disclosure of assets and consistent implementation of high quality accounting standards are necessary.

The actions should be taken in ways that protect taxpayers and avoid potentially damaging effects on other countries. We will use macroeconomic policy tools as necessary and appropriate. We strongly support the IMF's critical role in assisting countries affected by this turmoil. We will accelerate full implementation of the Financial Stability Forum recommendations and we are committed to the pressing need for reform of the financial system. We will strengthen further our cooperation and work with others to accomplish this plan.

 

For now, the Obama Campaign has indicated that they are behind the Treasury Plan, outlined above. No response yet from the McCain campaign. And it may be too early to know if the developments so far from this weekend’s summit will do provide any comfort to the anxiety evident on Wall Street this week,

 

“There are many causes of this economic crisis, and it’s critical that we respond using all the tools that we currently have. That’s why I support Secretary Paulson’s latest initiative to use the authority we gave him in the financial rescue plan to provide more capital to our financial institutions so that they have money to lend to families and businesses. He should implement this plan quickly, aggressively, and ensure that it protects taxpayers, does not reward CEOs, and is limited in duration. As financial conditions evolve, the government should be prepared to take all additional action necessary to maintain market confidence, including extending broader guarantees in the financial system. And the United States must step up its efforts to work with the G-7 and our other allies to ensure a globally coordinated solution.  This is not a time for ideology, but a time for common sense and pragmatism. The test of any idea must not be whether it is liberal or conservative, but whether it works for the American people. That’s what we should all be focused on in the days ahead to restore strength and prosperity to our economy,” the Obama Statement said.

 

Source for this blog post: “Uncle Sam Wants Stock.” Politico. The Crypt. http://www.politico.com/blogs/thecrypt/1008/Paulson_Uncle_Sam_wants_stock.html

The Day In Campaign Advertisements

Barack Obama “Lose” responding to McCain Campaign Ad “Chicago Way,” with their hardest attack yet connecting Obama to Chicago Politicians

 

Barack Obama “False Ads” coming after a week of being hit from all sides by McCain, features Joe Biden monologue (airing in Ohio, not announced by campaign)  

 

More about those crowds...

On the post below, in which we attempt to make the connection between the Troopergate Decision for Governor Sarah Palin and John McCain’s apparent walk back on the issue of the crowds at his rallies today, below are the dueling campaign statements in which the issue of crowds was raised today:

 

OBAMA (speaking today):

“It's easy to rile up a crowd by stoking anger and division. But that's not what we need right now in the United States. The times are too serious. The challenges are too great. The American people aren't looking for someone who can divide this country -- they're looking for someone who will lead it. We're in a serious crisis -- now, more than ever, it is time to put country ahead of politics. Now, more than ever, it is time to bring change to Washington so that it works for the people of this country that we love.

I know my opponent is worried about his campaign. But that's not what I'm concerned about. I'm thinking about the Americans losing their jobs, and their homes, and their life savings. We can't afford four more years of the economic theory that says we should give more and more to those with the most and hope that prosperity trickles down to everyone else.”

 

McCAIN  (through press secretary statement):

“Barack Obama’s attacks on Americans who support John McCain reveal far more about him than they do about John McCain. It is clear that Barack Obama just doesn’t understand regular people and the issues they care about. He dismisses hardworking middle class Americans as clinging to guns and religion, while at the same time attacking average Americans at McCain rallies who are angry at Washington, Wall Street and the status quo.

Even worse, he attacks anyone who dares to question his readiness to serve as their commander in chief in chief. Raising legitimate questions about record, character and judgment are a vital part of the Democratic process, and Barack Obama’s effort to silence and shame those who seek answers should make everyone wonder exactly what he is hiding.”

 

The Palin Response to Troopergate

The following statement was released today by the Campaign of John McCain & Sarah Palin,

 

Today's report shows that the Governor acted within her proper and lawful authority in the reassignment of Walt Monegan. The report also illustrates what we've known all along: this was a partisan led inquiry run by Obama supporters and the Palins were completely justified in their concern regarding Trooper Wooten given his violent and rogue behavior. Lacking evidence to support the original Monegan allegation, the Legislative Council seriously overreached, making a tortured argument to find fault without basis in law or fact. The Governor is looking forward to cooperating with the Personnel Board and continuing her conversation with the American people regarding the important issues facing the country.

 

The Golden Report for Friday October 10

Is This Our October Surprise?

 

Apologies for a lengthy bit of time away—please be assured that your blogger has not been out of touch with the race just neglecting to post in this space.

 

Tonight—with less than a month before the election—we may have reached a pivotal moment in the presidential race. Two big developments, all involving Republican Senator John McCain, are breaking at this hour.

 

First, in Alaska, the commission investigating “Troopergate,” or the firing of a State Police Trooper by Governor Sarah H. Palin that may have been motivated by personal (or political) means, has released its final report, finding that Palin abused her power as Alaska Chief Executive but did not violate any laws. Although this is not the worst news that could have come out for the McCain Campaign, it is definitely not the best and it is damaging for a number of reasons:

1)       It puts media attention and questions on Palin for at least a week and possibly longer and for every minute of bad media it means that there is one less minute for the McCain to make up ground to even the race out, nonetheless build a margin leading up to the election.

2)       It runs completely contrarily to the McCain/Palin campaign message of reform and being a maverick to shake up the corruption in Washington.

3)       It completely runs contrary to the media message that the McCain Campaign has run this week trying to tie Obama to the old Chicago political system and raise questions about his character and judgment

4)       It comes at McCain’s weakest point in the race, where he is losing ground and momentum and support very fast and is entering a double-digit deficit against Obama.

5)       It only adds to the weakened interpretation that many Americans, including and especially Independents, have of Palin since she was introduced to them. They question her immensely and many think that her candidacy is a complete joke (as they see when she is parodied on Saturday Night Live), this reaffirms this interpretation

6)       Time is running out for McCain/Palin; this complicates their closing strategy.

 

Watch the response to this tomorrow:

 

1)       From Sarah & Todd Paliln

2)       From Alaska Officials

3)       From Ted Stevens

4)       From John McCain

5)       From John McCain’s Campaign Staff

6)       From John McCain’s Campaign Surrogates

7)       From Barack Obama/Joe Biden

8)       From the Obama Campaign

9)       From the Democratic Surrogates

10)   From the Media

a.        From the Conservative Media

b.       From the Blogosphere

 

SCENARIOS ABOVE THAT COULD BE SIGNS OF TROUBLE (that only extend this story beyond its natural one-week lifespan):

·         1 & 4 differ—perhaps the biggest story which would show uncoordinated p.r. damage control. Especially watch the unscripted interviews that McCain & Palin may give—separately.

·         4 +& 5 differ—watch the first time John McCain goes up for a town hall meeting or interview outside of the control of his handlers. He has a knack (see below) or offering a message than his campaign would have liked.

·         5 & 6 or 1 &6 or 4 &6 differ---with stories such as this, when the #2 is being attacked, and when many in the Republican Party may feel the need to say ANYTHING to defend what they see as unwarranted attacks, and do things that may in the long run be extremely harmful, but that they believe are helpful

 

Make sure to look at how big a story the Obama Campaign makes this. That will also speak to the lifespan.

 

Reaction from both campaigns will come in the wake of this week’s string of poll numbers, culminating in a Newsweek poll this Friday Night, that show a widening and expanding Obama lead in the head-to-head presidential match up.

Newsweek Obama 52/McCain 41

 

We’ll wait for next week’s pre-debate polls before making this conclusion definitive, but after a week of throwing the kitchen sink at Obama, everything from William Ayers to Jeremiah Wright to Weather Underground to the Chicago Political Machine and Mayor William Daly, it has not helped McCain’s standing, in fact it has hurt.

                McCain: This evening in a town hall meeting had to walk back and where a week of negative campaign attacks have left the Republican Base’s interpretation of Barack Obama.

 

A CRITICAL POST ON TIME MAGAZINE’S SWAMPLAND BLOG BY ANA MARIE COX:

Today, at a McCain Town Hall Meeting--- “…But then something weird happens: He acknowledges the "energy" people have been showing at rallies, and how glad he is that people are excited. But, he says, "I respect Sen. Obama and his accomplishments." People booed at the mention of his name. McCain, visibly angry, stopped them: "I want EVERYONE to be respectful, and lets make sure we are."

The very next questioner tried to push back on this request, noting that he needed to "tell the American the TRUTH about Barack Obama" -- a not very subtle way, I think, to ask John McCain to NOT tell the truth about Barack Obama. McCain told her there's a "difference between record and rhetoric, and I plan to talk about his record, respectfully... I don't mean that has to reduce your ferocity, I just mean it has to be respectful."

And then later, again, someone dangled a great big piece of low-hanging fruit in front of McCain: "I'm scared to bring up my child in a world where Barack Obama is president."

McCain replies, "Well, I don't want him to be president, either. I wouldn't be running if I did. But," and he pauses for emphasis, "you don't have to be scared to have him be President of the United States." A round of boos.

And he snaps back: "Well, obviously I think I'd be better. "

 

This raises a lot of issues:

·         Has the McCain strategy run away? That is, has the campaign lost control of their supporters , who are now doing more damage to the campaign than help? Think of it this way, is it really a good think for your supporters to think that your opponent is an Arab terrorist (as was suggested at the same town hall meeting, today)? If this is true, then every Undecided Independent is going to not come over to your side because such thoughts are so outlandish and out of bounds.

·         Now McCain has to walk back and has to spend time reigning back in his supporters—spending time and resources in the final month working backwards instead of forwards. Notice the McCain response above. Will he have to spend his valuable airtime at the upcoming Wednesday debate being nice to and with Obama?

·         If either of the above questions play out, has the strategy to go negative failed? Was it a last straw that could have been pulled out in the final week—but was pulled out too early?

 

Either way you look at it, it is a defining change for John McCain and his campaign tonight. Plus they have to deal with Sarah Palin.

 

                Obama: Responding to a week of attacks by their opponents (which largely got overshadowed by the tremendous economic movements and developments of the week), tonight the campaign began airing an ad (and did not announce its release) featuring JOE BIDEN with an independent monologue.

 

And it is fitting that these potentially game changing developments in the presidential race come at the end of a week in which, for the first time, people began to believe a conclusion of the presidential race. It is important to remember that there is still a lot of time between now and Election Day, but there are fewer and fewer paths left for McCain to take to victory.

Friday's Tracking Polls

Rasmussen Daily Tracking Poll: Obama 50%/McCain 45%

Diageo/Hotline Daily Tracking Poll: Obama 48%/McCain 41%/Undecided 7%

Gallup Daily Tracking Poll: Obama 51%/McCain 41%