If you are reading the New York Times, The New Republic, or the Atlantic Monthly, you probably think that it is a foregone conclusion that Obama will win reelection this tuesday. What is the reasoning behind this conclusion?
Simply put, Obama is up in individual states according to polls conducted in those states. That is the crux of the argument that Nate Silver and his followers give. And it does happen to be absolutely true. According to every publicly available poll, Obama has held consistent single-digit leads in Ohio, Iowa, and Wisconsin. For this reason, Silver thinks, it is safe to conclude that Obama will win reelection this Tuesday.
However, I am not so sure. Quickly summarizing my reasons for doubt: Romney has maintained comfortable, consistent leads nationally for the past month. You may quip that this doesn't matter because we have an electoral college. but keep in mind that these "swing states" are called such *because* they closely resemble the American electorate. So national trends will be followed in the swing states like Ohio, Iowa, and Wisconsin.
Now has Romney maintained comfortable leads in national polls? According to the RealClearPolitics average of polls, which does not weigh by sample size Romney's lead has averaged between .7 and 1.5 points nationally for the better part of a month. Right now Obama has a razor thin lead of 0.1 points, but weighing the polls by sample size produces a 0.8 point lead for Romney in the national polls, and over the past month it has hovered at about 1.5-2 point lead, a lead outside the margin of error.
So which polls should we trust? Nate Silver thinks that we should trust the state polls as they have, historically, better called an election when they diverge from national polls.
But polling is a constantly changing business, so I think it's better to use the previous presidential election as the base year. So let us check the accuracy of the state polls in 2008 and the accuracy of the national polls in 2008.
According to the RealClearPolitics average of national polls, Obama was up by 7.6 points. In the end, he won the popular vote by 7.3 points.http://www.realclearpolitics.com/epolls/2008/president/national.html
To check the accuracy of the state by state polling, I took all the polls that
Above is a table I made for the states that are now labled as "tossups" by the Washington Post, plus Nevada.
On the right is the projected margin of victory for Obama in the RCP average of state level polls on election day. On the right is Obama's porjected victory by the RCP average of polls. In the middle column is Obama's actual victory margin. On the left is the difference between the two. The difference between teh two averages to just over 3 points.
State level polls were off, on average, by a whole 3 points while national polls, on average, were within .3 points, less than that if you weigh polls by sample size. In that case, Obama's projected victory going on polls in RCP's aggregate was 7.5 points. So using 2008 as our base year, we can see that national polls are clearly more trustworthy at face value than state-level polls. If that is the case, then we can pick Romney as the very slight favorite to win this Tuesday
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