It’s sometimes said that the Chairman of the Federal Reserve has more power over the economy than the President. Agree or disargee, there’s an interesting discussion going on at Angry Bear, lead by ‘Cactus,’ about whether/how much the Fed Chairman influences or tries to influence election outcomes. The debate about the “political businesss cycle” has been going on for decades, and Cactus weighs the evidence, brings readers up to speed and in the latest installment notes:

…for whatever reason, in the four consecutive close elections during the Greenspan era, there were unusually large changes in the levers that the Fed controls. One might call it coincidence, or one might note that these movements seemed designed to benefit the Republican candidate…Enough people were incensed that the 2000 elections were, in effect, decided by the Supreme Court. Do we want the 2008 elections decided by Ben Bernanke?

In terms of political strategy, the salient point for Dems may be to assume that, when Republicans control the Fed and the white house, there will be a hefty cash infusion into the economy in the months leading up to an election — and plan accordingly.

Far be it from us to (gasp) encourage gambling. But Slate has just launched a fun feature of interest to political junkies, which provides:

…a comprehensive guide to all the big political prediction markets. From now until Election Day 2008, we’ll publish regular updates of the key data from Iowa Electronic Markets, Intrade.com, Newsfutures.com, and Casualobserver.net. (Casualobserver has not yet launched its 2008 political prediction market, but we will add it as soon as it goes up.) In these early days of the campaign, we are tracking four markets: 1) Democratic nominee for president, 2) Republican nominee for president, 3) presidential victor, and 4) party control of the presidency. We’ll add Senate and House races as they heat up next year.

This is not just a greed game for bread-heads. As Slate notes:

The thrill of prediction markets for political junkies is that they harness “the wisdom of crowds.” A single person’s bet on an election outcome isn’t very good, but thousands of bets, with real stakes, are more likely to predict the correct result than even the best pundit. The Iowa Electronic Markets, the big daddy of the political prediction markets, is consistently better at forecasting winners than pre-election polls.

University of Iowa Biz School scholars offer some verification for the claim here. There may be a few pollsters out there who beg to differ. Might be fun for pollsters and gamblers to make a little group wager.

Eric Kleefield has posted Karl Rove’s House of Reps top 20 “targets” and “Priority Defense” lists at TPM Cafe. We won’t list them all here, other than to offer a regional breakdown. Rove’s vulnerable Republicans include: 3 southerners; 7 northeasterners (Ohio included here); 2 midwesterners; and 5 westerners. Rove’s Dem targets include: 6 southerners; 7 northeasterners; 6 midwesterners; and only 1 westerner. Doesn’t seem to be any striking regional angle here, other than Rove sees the west as pretty shaky. On the other hand, Given Rove’s ’06 W-L record, maybe the best way for Dems to use this list is for fish-wrap.
Rove’s list was reportedly revealed in a Power Point presentation shown at the General Services Administration to promote “team building.” Yet another use of federal government resources to promote GOP political ends, as Paul Kiel notes at TPM Muckraker:

The GSA, remember, is the government’s procurement agency, in charge of almost $60 billion each year. All of this seems like a clear violation of the Hatch Act, which prohibits using federal resources to aid political parties.

Is there any public trust this Administration won’t violate?

Political Wire‘s Taegan Goodard notes an encouraging Washington Times interview with Nevada GOP Senator John Ensign regarding Dems ’08 Senate prospects. As Goddard sums it up,

In a “wide-ranging” interview, Ensign “acknowledged that his party faces a steep, uphill climb in next year’s Senate elections when 21 Republican seats will be up for grabs, compared with 12 for the Democrats.”
Ensign “singled out five Republican seats that are in danger in Colorado, Maine, Minnesota, Oregon and New Hampshire, compared with two vulnerable Democratic incumbents in South Dakota and Louisiana and long-shot possibilities in Iowa and Montana.”
Meanwhile, the New York Times notes the challenge the Iraq war presents to Republican senators seeking re-election in 2008, including Sen. John Sununu (R-NH), Sen. Gordon Smith (R-OR) and Sen. Norm Coleman (R-MN).

MyDD‘s Jonathan Singer has more to say about Dems’ Senate propects here.
Also check out DavidNYC’s post at Swing State, noting that fired federal prosecutors tend to be residents of 2004 swing states.

Lowell Feld has a MyDD post “Why Turning Virginia ‘Blue’ Matters to All of Us,” which should be of interest to everyone concerned about building a stronger Democratic Party. Feld, who writes the “Raising Kaine” blog, offers a half-dozen reasons why the 2007 Virginia state legislative elections are important, including:

It matters because Virginia, with the election of Tim Kaine and Jim Webb, plus gains in the General Assembly, has moved from “solid red” to “purple,” and because we need to keep moving the state in the “blue” direction politically. Needless to say, the implications of Virginia, with its 13 electoral votes, becoming competitive once again in national politics (Virginia last went for a Democrat in 1964) would be enormous. Don’t think this is possible? Well, I’d refer once again to the fact that the last two governors – Mark Warner and Tim Kaine – have been Democrats, and the last Senate election saw Jim Webb replace George Allen. Also, I would point out that increasingly, Northern Virginia is becoming an extension of the solidly “blue” Northeast corridor. And Northern Virginia is becoming increasingly more politically powerful within Virginia as a whole. Frankly, it’s only a matter of time until the growth in NOVA turns Virginia “blue.” Our job, if we choose to accept it, is to ensure that this change occurs as rapidly as possible.

Republicans currently hold majorities in both houses of the Virginia legislature, but Dems need a net pick-up of only 4 seats in the state Senate to win a majority (Dems lag in the VA House of Delegates 50-47-3). Demographic trends and issues are both breaking the Dems way, and a little extra investment by Dem contributors could go a long way toward securing a beachhead for Dems in the south.
There’s been a lot of ink poured in the debate over whether Dem Presidential candidates should or should not skip the south, but not enough serious discussion about how to begin winning back the South, or at least a significant chunk of it. Virginia is clearly critical to any such effort. One commenter on Feld’s article (Pitin) calls Virginia “the Normandy Beach of taking back the South.”
For Dems, neglecting the state legislatures, which control redistricting, in party-building is like putting crappy retreads on a top-seed in the Indy 500. It’s time for Democratic fund-raisers and Party leaders who want win a working majority to invest in winning more seats in the state legislatures. ActBlue is now accepting contributions for the 2007 VA legislative races here.

Political Animal Kevin Drum joins Kos in giving the thumbs up to the ‘Super Tuesday’ (February 5th) monster primary, although Drum stipulates:

I’m pretty much on board with this. I’d rather see the candidates spend a year running a truly national campaign — the kind they’ll need to run in the general election — instead of spending 90% of their time in two small states where they engage in nostalgic but obsolete coffee klatsch campaigning. Like it or not, that just isn’t the way the world works anymore.
However, if a single massive primary day is the way we decide to do things in the future, I hope that by 2012 we can agree to move the whole process forward and hold it in, say, April or May. The first week of February is just too early to commit to a candidate who won’t be elected until November.

A smidge less gung-ho than Kos, who says:

There’s some level of nostalgia over the notion of a long, drawn out primary process in which Iowa and New Hampshire kick things off. This is supposed to help the Jimmy Carter-type underdogs “build momentum” and give voters a chance to “deliberate” over their decisions.
In reality, of course, we had a system in which two non-representative states (IA and NH) decided our nominee last time, and they were gunning for the same “right” this time around.
The rest of the states aren’t morons. They saw what was happening, and so many have moved up to the front of the pack that now we have essentially a national primary on Feb. 5. Is that a bad thing? I’d argue it’s a fantastic thing.

New Donkey Ed Kilgore sees things differently in his recent post, entitled “Nomination Abomination”:

This, folks, is simply crazy. February 5 is nine months before the general election, and roughly six months before the nominating conventions. The heavily front-loaded 2004 schedule was rationalized by some Democrats as necessary to give the nominee time to take on an incumbent; there’s no such excuse for the far more front-loaded 2008 calendar. It virtually guarantees that three factors—money, name ID, and success in the earliest states, especially Iowa—will determine the outcome. And it may well snuff any serious chance for the lower-tier candidates in both parties, who must now somehow simultaneously combine relentless campaigning in Iowa with the massive fundraising necessary to compete in the incredibly expensive February 5 landscape.
Most importantly, the emerging calendar will provide zero opportunity for second thoughts after the early rush has anointed nominees. It could be a very long spring, summer and autumn if a nominee commits some major blunder, or some disabling skeleton jumps out of a closet.

All three of the above make good points. However, their arguments assume that one candidate will emerge on top on Feb. 5th, which may not be the case. Perhaps we can agree that it’s a good thing, assuming two big “ifs” — if one candidate comes out on top, and if that candidate is the best competitor to carry the party standard. It looks like a done deal for ’08, and the outcome will no doubt determine the future of the whole monster primary concept. It’s certainly one of the most important Democratic strategy choices, and readers are encouraged to read all three posts and some of the more than 250 comments on the articles submitted thus far.

Zack Exley’s Alternet article “What Lessons Can Progressives Learn from Evangelicals?” (also posted at In These Times) provides an interesting update on the growth of the progressive evangelicals and insights about how they may influence evangelical Christians as a whole. Exley notes, for example:

…this movement is still barely aware of its own existence, and has not chosen a label for itself. George Barna, who studies trends among Christians for clients such as the Billy Graham Evangelical Association and Focus on the Family, calls it simply “The Revolution” and its adherents “Revolutionaries.”
“The media are oblivious to it,” Barna wrote in his 2006 book Revolution: Finding Vibrant Faith Beyond the Walls of the Sanctuary. “Scholars are clueless about it. The government caught a glimpse of it in the 2004 presidential election but has mostly misinterpreted its nature and motivations.” According to his research, there are more than 20 million Revolutionaries in America, differentiated from mainstream evangelicals by a greater likelihood of serving their community and the poor and oppressed within it…

Credible statistics are scarce. Generally evangelical progressives agree more with Democrats about most economic and social justice issues, but a sizeable portion may prefer the GOP’s positions on abortion and gay rights. And there is also a struggle going on for the soul of the evangelical movement between “prosperity Gospel” advocates and “Social Gospel” adherents. The article suggests that the trendline may be in the Dems’ favor.
But the real benefit of evangelical progressives to Dems may be less how they vote as a sub-group and more about how they influence the much larger constituency of evangelical Christians. If, for example, they generate more discussion about the economics of Jesus among mainstream evangelicals, it could lead to substantial party-switching among evangelicals favoring Dems. In any event, there is more of interest in Exley’s article and the comments that follow it, and it is recommended to Dems interested in building support among religious communities.

One of the Dems’ biggest challenges in struggling against the most incompetent and corrupt Administration in U.S. history is that there is so much scandal, mess and outrage du jour that it’s hard to get any coverage for their pro-active solutions to America’s most critical problems. What should be the Dems’ strongest card, a unified front supporting policies for energy independence gets hardly any buzz at all.
As a key to addressing huge problems, like middle east entanglement, rising gas prices, air pollution, out -of-control military spending and global warming, energy independence is a highly popular goal, according to the most recent polls. A poll released last year by Foreign Affairs magazine found nearly 90 percent of respondents agreed that “the lack of energy independence jeopardizes national security.” The poll indicated that 48 percent say “the United States deserves a “D” or “F” for its efforts on energy dependence.”
Most of the Democratic presidential candidates have similar positions on this issue, nicely encapsulated in non-candidate (thus far) Wesley Clark’s web page as one of the three most important issues:

We must put a policy in place to lead us to energy independence and away from the volatile and conflict-ridden regions where, today, the “geostrategic risk premium” is adding billions of dollars to the costs imposed on the American people. Our reliance on oil also impacts global climate change. As I have stated before, global warming has serious national security risks: stretching our military resources to deal with catastrophes (like Katrina) and increasing the potential for conflicts due to the displacement of people, competition for scarce resources, and adverse effects on agriculture

Because most Dems are in general agreement about measures to promote energy independence, there is an enormous opportunity for the candidates to get behind a unified statement that will define Dems as the Party of hope, in stark contrast to the GOP’s lack of a credible policy for energy independence.
Senate Democrats are supporting a modest “Clean Energy Development for a Growing Economy (EDGE) Initiative” a package to reduce U.S. petroleum consumption by 6 million barrels a day in 2020—or 40 percent of America’s projected imports (See here for more about the plan). Not a bad start, but voters might be more receptive to a speedier timetable, perhaps a more dramatic “Manhattan project” style crash-program.
It shouldn’t be all that hard for Dem candidates to unite around a common agenda that includes tougher CAFE standards, more investment in mass rail transit, increased tax credits for hybrid cars, alternative energy development — an energy independence package that benefits Dem candidates and strengthens the party’s image.

A writer with the handle ‘its simple IF you ignore the complexity’ has a thought-provoking post over at the Daily Kos, addressing one of the lessons of MLK’s example for conducting political discourse. ‘It’s simple..’ explains it this way in one part of the essay:

I don’t think anyone could seriously make the argument that Dr. King was a sellout…Nay, he stood strong – continuously willing to speak out and when necessary suffer for his beliefs. Expecting not exceptions, but real change in the laws and attitudes he challenged, realizing that neither would come lightly.
Yet, significantly Dr. King managed to do something that we too often overlook. He disagreed – strongly. He challenged injustice – but he did not divide.
He drew lines not to exclude others but to demand change. Recognizing change would not come instantly, he still refused to fall into the trap of hating and demeaning his adversaries.

This should not be considered a call to kumbaya for political writers. Their job is to illuminate truth, and tough analysis of personal character is fair game, provided it’s honest and well-measured.
But the way MLK derived credibilty from criticising policies, while refusing to demonize his adversaries is something campaign workers and candidates should ponder. They have a lot to lose by falling into the trap of ad hominem attacks. Name-calling and personal insults, for example, diminish the dignity of the perp more than the target. Voters want their leaders to be articulate enough to sharply criticize policies, and yet be above what Rev. Jesse Jackson called the “rat-a-tat-tat” of snarky political discourse.
There is a lovely moment in an occasionaly re-televised clip of MLK on the Mike Douglas Show back in the sixties. Douglas is interviewing MLK, and another guest chimes in, questioning one of King’s positions. King calmly, respectfully and eloquently answers the question without the barest hint of hostility. The lovely moment comes at the end of the clip as King sits there with luminous dignity, Douglas and his other guest, not only persuaded, but clearly awestruck by King’s spirit.
We can’t expect our politicians to measure up to MLK, but they have a lot to gain by emulating his way of winning hearts and minds.

Journalists and everyone interested in the political power of the internet have a must-read to clip over at the L.A. Times, Terry McDermott’s “Blogs Can Top the Presses.” McDermott’s article is part tribute to Josh Marshall’s cutting-edge political reporting and part meditation on the ways bloggers are transforming political journalism.
From McDermott’s profile of Marshall’s shop:

It’s 20 or so blocks up town to the heart of the media establishment, the Midtown towers that house the big newspaper, magazine and book publishers. And yet it was here in a neighborhood of bodegas and floral wholesalers that, over the last two months, one of the biggest news stories in the country — the Bush administration’s firing of a group of U.S. attorneys — was pieced together by the reporters of the blog Talking Points Memo.
The bloggers used the usual tools of good journalists everywhere — determination, insight, ingenuity — plus a powerful new force that was not available to reporters until blogging came along: the ability to communicate almost instantaneously with readers via the Internet and to deputize those readers as editorial researchers, in effect multiplying the reporting power by an order of magnitude.
In December, Josh Marshall, who owns and runs TPM , posted a short item linking to a news report in the Arkansas Democrat-Gazette about the firing of the U.S. attorney for that state. Marshall later followed up, adding that several U.S. attorneys were apparently being replaced and asked his 100,000 or so daily readers to write in if they knew anything about U.S. attorneys being fired in their areas.
For the two months that followed, Talking Points Memo and one of its sister sites, TPM Muckraker, accumulated evidence from around the country on who the axed prosecutors were, and why politics might be behind the firings. The cause was taken up among Democrats in Congress. One senior Justice Department official has resigned, and Atty. Gen. Alberto R. Gonzales is now in the media crosshairs.
This isn’t the first time Marshall and Talking Points have led coverage on national issues. In 2002, the site was the first to devote more than just passing mention to then-Senate Majority Leader Trent Lott’s claim that the country would have been better off had the segregationist 1948 presidential campaign of Sen. Strom Thurmond succeeded. The subsequent furor cost Lott his leadership position.
Similarly, the TPM sites were leaders in chronicling the various scandals associated with Republican lobbyist Jack Abramoff.

And the punch line:

All of this from an enterprise whose annual budget probably wouldn’t cover the janitorial costs incurred by a metropolitan daily newspaper.

Kind of ironic that such an eloquent tribute to the power of a political blogger would appear in a newspaper, but there it is. Regretfully, nominees for Pulitzer Prizes for reporting excellence, which will be awarded in a month, must be newspaper employees under current rules. In a more just contest, Marshall and TPM would be a slam dunk for their influential reportage. It’s way past time for the Pulitzer Board to create a new category that reflects 21st century journalism.
There are more quotable insights about political blogging and related issues in McDermott’s excellent piece, but we’ve already excerpted a lot, so read the whole thing.