Remember all those models that say presidential elections are won or lost based on the economy? The ones that increasingly make Barack Obama look like a doomed one-termer? Well, here's some good news for the Obama camp: a different model, from American University professor Allan Lichtman, "whose election formula has correctly called every president since Ronald Reagan’s 1984 re-election," says Obama is a shoo-in.
So how does that work? Well, Lichtman's model is based on 13 binary keys, and although Obama loses both of the keys that are based on economic performance, he wins nine others. Since any score of seven or more means the incumbent party wins reelection, Obama should prevail easily no matter who the Republicans nominate.
Is this right? Beats me. But you can't argue with seven successful predictions in a row, can you? Here are the nine keys that go in Obama's favor: (1) no primary challenge, (2) he's a sitting president, (3) no third-party challenge, (4) major policy changes enacted (healthcare and stimulus), (5) no social unrest, (6) no scandal, (7) no foreign policy debacles, (8) at least one big foreign policy success (killing bin Laden), and (9) no opponent with lots of charisma.
For what it's worth, you might plausibly argue with #4 on the grounds that both of these policy changes have been unpopular; possibly with #8 on the grounds that this isn't a big, lasting success (something that Lichtman has apparently changed his mind about over the past month); and possibly with #9 on the grounds that Rick Perry could turn out to be a pretty charismatic candidate. And you might argue that the economy is now looking so bad that it deserves more than one point.
Still, Lichtman is the expert, and he says, "Even if I am being conservative, I don’t see how Obama can lose." So there you go.
POSTSCRIPT: A bit of googling shows that Lichtman has been forecasting an Obama win since March of last year. So I guess this is nothing new. Still interesting, though.