Lessons from the Election

Lessons & Observations From the November 4, 2008 General Election

1. Issues. Economic or “pocket-book” issues will trump social issues every time.

2. Resources. When it comes to campaign financing, never unilaterally disarm. John McCain voluntarily put his campaign at a huge financial disadvantage by accepting public financing.

Barack Obama, who did not accept public financing, had money to burn and could simultaneously cut his losses in so-called “red” states and provide resources and support to down-ticket Democrats across the country.

3. VP. A Presidential candidate’s VP choice can hurt but it usually doesn’t help. Sarah Palin hurt John McCain, but Joe Biden did not help Barack Obama.

4. Approval Ratings. A term-limited President with low poll numbers can drag down his entire party. President Bush’s policies and historically low approval rating were impossible hurdles for McCain and down ticket Republicans to overcome.

5. Beltway Politics. John McCain, first elected to Congress in 1982 and a U.S. Senator since 1986, had an almost impossible task of painting himself as a Washington, D.C. outsider who can bring “change” to America.

In contrast, Barack Obama was unrelenting & highly successful in his efforts to connect McCain to Bush and to label McCain as a third Bush term who will take this country backwards, not forwards.

6. Race. While I won’t go as far as to say that the U.S. is “post-racial”, I will say that a well-run campaign, qualifications and leadership style will trump race every time.

7. Divided Government. When faced with a potential landslide by either Democrats or Republicans, the additional check and balance provided by divided government becomes more important to more voters.

8. Strategy. Stay on message. McCain appeared to be floundering, looking for a theme that would stick, while Obama kept hammering away at 2 or 3 core themes.

9. Taxes. Citizens will willingly pay fair taxes IF they are going to make our country stronger – military, borders, infrastructure, alternative energy sources, etc. – but not if the taxes are used to support those that should support themselves (welfare programs) or failed programs.

10. Extremes. Letting the extreme point-of-view control any issue is a recipe for disaster. Too much regulation is just as bad as too little regulation. Government must enact and enforce reasonable regulations for our financial markets, credit markets, mortgage industry & banks. A free market does not mean an unregulated market.

You can’t have capitalism and the free market on the way up and socialism on the way down.

11. Deficits. Voters and politicians are finally starting to take a serious look at the budget deficit and national debt, including the funding of entitlement programs such as Social Security, Medicare, & Medicaid.