One of the Democratic Party's worst nightmares regarding the 2008 presidential election is coming to fruition: Sen. John McCain (R-Arizona) will be the Republican Party's nominee. Some investors / readers may argue that as a moderate, somewhat rebellious Republican and an advocate of the Iraq War, McCain will be a fairly easy candidate for the Democrats to oppose. Well, to borrow one of Vice President Gore's renowned, low-key allusions, Now, I can see you really haven't researched the matter thoroughly.
True, the short-term forces -- issues -- are against McCain. The economy is barely growing, or is already in a recession, and the Iraq War continues with little certainty regarding its outcome or ultimate impact. Further, because there's a Republican in the White House, the American people -- if decades of political science survey research mean anything -- will blame the party in power for not having solved the above problems, and this will take votes away from McCain.
Why then, despite the above, is John McCain likely to still give the Democratic Party fits this campaign season? Because he's John McCain. Or, in other words, because of voters' attitudes toward the candidate [ATC], the second most important factor affecting an adult's vote, behind party identification [PI] and ahead of the issues facing the nation. (In a nutshell, the political science theory that best predicts vote is PI + ATC + Issues = Vote. But more on that, some other time.)
What qualities does McCain possess that help voters form a positive attitude toward the candidate?
Honesty / integrity / forthrightness – McCain says what he means, and means what he says. Voters value forthrightness. One never comes away from hearing McCain speak wondering where he stood on an issue. He's clear, direct and succinct. And he will not base a stance solely on public opinion. An example: support for the Iraq War. Most Americans want the war ended soon, with the troops brought home sooner. Not McCain: he favors the war, saying that if elected he will increase U.S. troop strength to win the war, or he will bring the troops home.
Respect for typical person and humility – McCain likes people, he really does, and he demonstrates this everyday on the stump or while working in the U.S. Senate. He's a public official who'll talk with anyone, which is rare. Moreover, he treats everyone with respect: he engages voters at length -- frequently disagreeing with them on policy in debates -- but he is never disagreeable. He always shows respect for alternate viewpoints, and by extension, for the person with the viewpoint. Further, a man of humility, he realizes he has above-average talent but he doesn't view himself as better than anyone else. Voters want a president who's talented but who also is a typical person.
Independence / maverickness - Finally, McCain is not a typical Republican. He frequently differs with the party's conservative base: on taxes, on the federal budget, on the environment, on social issues, on moral issues, on U.S. Supreme Court appointments, for goodness sakes, and so on. Gosh, did that ever hurt McCain in the Republican Party. Moreover, some Republican officials and voters say the best thing John McCain could do for the Republican Party is to leave it. Does that ever help McCain with the rest of the American public!
In sum, it's because of the above that voters have formed a positive attitude toward the candidate -- McCain. Many voters will cite this as a major reason they voted for McCain.
True, the issues -- the poor condition of the U.S. economy and the uncertainty regarding the Iraq War -- are working against him, but if the Democrats think he'll be easy to beat in November 2008, solely because of those issues, to paraphrase Vice President Gore, they've got another thing coming, and it won't be the White House.
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Also read Lazzaro's two other posts in the series:
- Clinton campaign hopes for spring renewal after winter of discontent
- Is Obama in 2008 like JFK in 1960 -- on the glory road?
Financial Editor Joseph Lazzaro is writing a book on the U.S. Presidency and the U.S. economy.











Reader Comments (Page 1 of 1)
2-11-2008 @ 3:13PM
lowellfield said...
What garbage. What is this McCain fetishist doing writing for a financial blog?
2-11-2008 @ 3:22PM
brOSS said...
What garbage!! Honesty and integrity? Remember the Keating five? McCain cut a deal. Kept him from going to prison.
2-11-2008 @ 4:37PM
mike n said...
Who is John McPain?
2-12-2008 @ 10:05AM
Ivin said...
McCain is a complete fraud, read up on his past behavior as a Naval Officer, and as a POW/Enemy collaborator. Go to Viet Nam Veterans against McCain on the internet. Do you want this man as our president ?