Its worth looking back to the 2004 presidential debates. The unanimous opinion was that John Kerry punished George W. Bush. Whereas Bush was churlish, impatient, and aloof, Kerry was dynamic and aggressive. He came away from the debates with momentum and a boost in the polls. Twenty-two days after the final debate, Bush won reelection with 50.7 percent of the vote.
Winning debates doesnt hurt, but it doesnt do much to help either. At most, this debate will give Romney a bump in the polls. But even thats an open question. Kerrys gains came from winning Democratic voters back from Bush, and moving Democrats away from the undecided column. There was slack in the electorate, and that gave Kerry a little space to grow.
The same isnt true this year. Obama is winning the vast majority of Democrats and Democratic-leaning voters, while Romney is doing the same for Republicans. There isnt much across-the-aisle voting in this election, which means that Romney needs to win undecideds and break Obamas coalition to make gains. To do that, he needs to offer a convincing argument to Democratic voters and, so far, his campaign hasnt been able to clear that hurdle. Yes, the debate helped him look serious and presidential, but thats never been his problem: Romney moves with an aura of competence. What he lacks is detail and conviction.
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At the end of the month, odds are good that Obama will be where he was at the beginning of the monthahead.