Morning Examiner: Has Obama Peaked?

By Conn Carroll width=84According to The Washington Post President Obama has spent more than $91 million on television ads in eight swing states as of July 6. Over the same time Mitt Romney has spent just $23 million. True conservative groups have spent some money against Obama closing the gap a little (in Pennsylvania for example Obama has spent $5 million Romney nothing and Karl Roves Crossroads GPS has spent $2.3 million). But conservative groups have far outraised and outspent liberal groups this year and that trend shows no signs of abating (American Crossroads the 527 organization affiliated with Crossroads GPS has already booked $40 million in advertising time for the last four weeks of the election. Worse for Obama the latest fundraising numbers show he will not be able to outspend Romney forever. Romney and the Republican National Committee raised $106 million in June while Obama and the Democratic National Committee raised only $71 million. Romney will eventually reach parity with Obama on television spending and will probably surpass him. So how is Obama doing now at the height of his incumbency advantage? At best hes treading water. A new ABC News/Washington Post poll shows Obama tied with Romney among registered voters at 47 percent. But Obama is far weaker than that top line number suggests. Romney is actually beating Obama among independents by 14 points 53-39 percent. The only thing keeping Obama close to Romney is the polls heavily pro-Democrat sample. In 2008 a Democratic landslide electionDemocrats enjoyed just a 7 point turn out advantage (39 percent of the electorate to 32 percent). But in this poll Democrats enjoy a 9 point advantage (36 percent to 27 percent). In both 2004 and 2010 turnout between the parties was even. The source of Obamas weakness is easy to identify. Sixty-three percent of respondents say the country is on the wrong track. Eighty-nine percent identify the economy as the most important issue in the election. And 54 percent disapprove of Obamas handling of the economy. However few people know what Romney will do about the economy if elected president. Only 38 percent of respondents say Romney has presented a clear plan for dealing the the economic situation." If Romney can build on his existing economic advantage (respondents trust Romney more on the economy 49 percent to 44 percent) this may be Obamas high water mark.
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