John McCain's Slide and the Financial Crisis: It's the Economy, Stupid

Taking respectful issue with my colleague Michael Barone, I disagree with his theory posted earlier this week that Democrats may not benefit from Wall Street's meltdown.

Electoral-vote.com had Sen. John McCain ahead earlier this month in the Electoral College and, in fact, winning the Electoral College. Today, Sen. Barack Obama, who had led by a wide margin last month (over 300 electoral college votes) is back ahead of McCain in the Electoral College, 282-256.

Even the Republican-leaning RasmussenReports.com shows Obama back in the lead:

The Rasmussen Reports Balance of Power Calculator shows Obama leading in states with 193 Electoral College votes while McCain has the edge in states with 189 votes. When "leaners" are included, Obama leads 259-247 (see Quick Campaign Overview). A total of 270 Electoral Votes are needed to win the White House (see 50-State Summary).

What's changed since Sen. McCain fell out of the lead position? It's the economy, just the economy.