In the past few years, you’d be hard-pressed to find a star that has risen higher or faster in the political prediction business than New York Times blogger Nate Silver.
This is for good reason. As On The Media notes, “In 2008, his blog FiveThirtyEight correctly predicted the outcome of the presidential race in 49 out of 50 states. (In that same election, he was also right about all 35 senate races.)”
Not too shabby. But one wonders if his reputation might be about to take a hit if Romney actually pulls off a victory.
So far, Silver isn’t hedging any bets. In fact, he’s all in. Using his prediction model, on October 4, he gave Obama a 87.1 percent chance of winning.
Today, he gives Obama a 70.4 percent chance of winning. (70.4!)
Don’t get me wrong, I think it’s entirely possible that Obama will win re-election. (Before the first debate in Denver, even I would have agreed with Silver’s analysis.)
But the race changed dramatically, and my guess is that, right now, it’s probably a 50-50 proposition. (Silver would likely dismiss this by arguing that political commentators always think every election is a coin toss. But empirical evidence suggests the race is actually close. At the time of this writing, Real Clear Politics poll average has Romney up .1 percent.)