SSP’s Competitive Senate Race Ratings (10/7/2008)

Thanks, it seems, in large part to the ongoing financial crisis, Kentucky’s senate race has tightened dramatically in the past couple of weeks. SurveyUSA called it a three-point race and Mason-Dixon pegged the spread at just one. Meanwhile, the folks at the Rothenberg Political Report said they saw a third poll which also showed the race a dead heat.

If anger at Republicans and concerns about the economy don’t abate over the next month, GOP Minority Leader Mitch McConnell may have a serious fight on his hands. While McConnell had a massive $9 million warchest at the end of June, Dem Bruce Lunsford’s personal wealth (and his willingness to dig deep) can balance that out. Indeed, this is one race where we can stay financially competitive without the DSCC having to break the bank.

It’s hard, in other words, to see the Republicans holding as decisive an advantage as they once held in Kentucky. (Even the presidential numbers have tightened up a bit.) But this is a race that bears watching particularly closely – Rasmussen has already thrown some cold water on it, and the blue bounce may not last. Right now, though, McConnell is sweating in a way that he simply wasn’t last month, hence our decision to move this race.

As with Kentucky, a trio of recent polls (with three-, two-, and one-point margins respectively) suggests that Georgia’s senate race is tight, almost shockingly so. Our changing views of this race, though, rest on some other, deeper data as well.

For one, SUSA says that early voters have gone for Dem Jim Martin by a 61-36 margin. At the same time, while the Obama campaign may have fallen short of its goal of registering 500,000 new black voters in Georgia, Nate Silver points out that black registration has soared nonetheless. He also notes that blacks have accounted for 40% of early voters so far, well above even his optimistic (but plausible) estimate that African Americans might compose 30% of the voting electorate in the final analysis.

Yet our newfound hope for beating the odious Saxby Chambliss is tempered by the fact that, unlike in Kentucky, the DSCC will need to get involved here to seal the deal. Georgia is a big, expensive state, and the DS already has more good targets than it can reasonably handle. Finding a few mil for the Peach State won’t be easy. At the same time, we don’t want to get gulled by those sumptuous-looking early voting numbers. Obama leads 64-35 among early voters, but that can’t be sustainable. (Again, though, Nate suggests a very close top-of-the-ticket finish in Georgia is indeed possible.)

Nevertheless, as with Kentucky, an upset has become distinctly more likely here than it was just a short while ago, and so we move this race to “Lean Republican.”