The polls are meaningless (almost)

Polls at this point in time are absolutely worthless in terms of their predictive value. At this time last year, if you had believed the polling, Edwards or Hillary would have won Iowa. Or nationally, Rudy Giuliani would be the Republican nominee! See what I'm saying?

Intrade is no better, pace Michael Brendan Dougherty. Buying Obama and McCain futures this time last year would have netted you a small fortune (more so with McCain, but also with Obama).

CBS Horserace writes:

In those blue states being talked about by Republicans as possible targets, Obama is doing more than holding his own. In Pennsylvania, the RCP average has Obama up by 7 points. In Michigan, it’s a 7.2 point lead, 11.2 points In Wisconsin and 12 points in Minnesota. When it comes to those states Obama is looking to flip into the Democratic column, the race is much closer. McCain holds an average lead of just 0.7 points in Virginia and just 3.8 points in North Carolina. Obama meanwhile leads by 3.6 points in Colorado and holds a slight 0.5 lead in Indiana. And in Nevada, it’s a dead heat. Meanwhile, some of the more traditional swing states look to be tilting slightly towards the Democrat. Obama holds the lead in poll averages in places Republicans have won in recent cycle. He’s up 4.5 points in Ohio and 2.5 in Missouri. Obama is holding strong in Iowa, with an average 7.4 point lead. McCain clings to a 2.2 point average lead in must-have Florida and New Hampshire is a toss-up. In other words, Obama is looking much stronger in the states Democrats have relied on in the past two close elections while appearing to make real inroads in traditional Republican states and competing very well in big swing states like Ohio.

Stuart Rothenberg says the bellweather states will be Colorado, Virginia, Ohio, Nevada and Michigan. Obama has small leads in all of these, except in Michigan where he's up by 7+.

Obama is doing the right things right now; moving to the center during the summer when nobody's paying attention; grabbing all the headlines (for those who are) by going overseas. The trip is looking like it will be a masterstroke; Barack looks presidential, McCain is diminished by comparison.

Could Obama slip up and harm his candidacy? Of course, but that can happen with anything. He's dominating the airwaves so far and will continue to with his overseas venture. The more people just get used to the idea of Obama being their president, representing them to foreign leaders, etc., the better off he is.

He's got four months to do this, yet the drawn-out primary campaign helped immensely. Obama was not dropped on us from heaven; he had to earn it gradually over a grueling schedule of primary after primary. All these voters seeing his name on the ballot, hearing about him on the local news. And the campaigning sharpening his presidential campaigning skills. I will repeat until doomsday comes that a plethora of democracy only helps a party (and the US as a whole) and the people who only see the divisiveness have no imagination and miss the big picture entirely.

So to pose the question put by CBS Horserace (not excerpted) why isn't Obama up by more? I think the answer is that the heat has not yet been put on John McCain. McCain is benefiting from the surge's short-term success, and the fact that the economy dominates the headlines distracting people from Iraq. People are not thinking about the election. When they do the poll numbers will move around. No doubt McCain will have a lead at some point in time. But there is plenty of ways for Obama to go after McCain, and not a whole lot of ways for McCain to go after Obama, except alterization, the impact of which is/will be blunted by the fact that Obama has/has had time for people to get used to him. The media fawning all over him doesn't hurt, along with the fact that McCain has finally met his match in the media-darling category; now he's standing in the way of what the progressive media elites most desire, which is new for him.