Posted by Todd Zywicki:
DEMOCRATS REGROUP:

   The Real Times has a [1]front-page story on the Democrats regrouping
   after the Republican National Convention. Noting the President's
   double-digit poll leads, the Democrats argue that Kerry was not fast
   and aggressive enough in his response to the Swift Boat ads and
   controversy and this led to the fall in the polls. This could be true,
   but it strikes me as a little too much "inside baseball." I personally
   find it hard to believe that the Swift Boat issue really affected that
   many voters.
   My perception, for what its worth, is that the effect of the
   Republican Convention was to remind voters what the election is really
   about. Because news coverage has been dominated by these little day to
   day stories, this tends to drive the polling decisions. The
   Convention, by contrast, succeeded providing perspective by reminding
   voters that all this back-and-forth is nothing but smoke, and that
   national security and terrorism remains the big issue. To some extent
   this issue gets pushed to the back pages by all the other little stuff
   that drives news coverage.
   Further credence for this, I think, is that according to the [2]polls
   I saw last week, the President's big bounce came during the week of
   the Convention, but before he even spoke (in fact, from what I can
   tell, his actual speech didn't add much to his bounce). My
   interpretation of this was that people were responding to the
   convention's reminder of the importance of the terrorism issue itself,
   rather than any particular details or issues. So the battle seems to
   be over defining the issue space, rather than the candidates'
   positions on those issues.
   Possible contrary evidence to my hypothesis, however, is suggested by
   the [3]Iowa Electronic Markets. The trading data there indicates that
   President Bush made his greatest strides in the week leading up to the
   Convention (when the Swift Boat issue dominated the news), and
   actually fell into a virtual tie on the first day of the convention,
   before rebounding at the end of the week to where he began at the
   outset of the week. This tends to suggest that the Swift Boats issue
   was in fact the moving force for the recent pick-up in the polls and
   that the convention primarily consolidated those gains.

References

   1. http://www.washingtontimes.com/national/20040906-123726-2140r.htm
   2. http://www.time.com/time/press_releases/article/0,8599,692562,00.html
   3. http://128.255.244.60/graphs/graph_Pres04_WTA.cfm

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