Advantage Obama

The New York Times leads with a look at how the beleaguered economy has shifted the electoral map in Barack Obama's favor. (The Washington Post stuffs a nearly identical story.) According to the Times, Obama has a “solid lead” or is “well positioned” in states that account for 260 electoral votes, while John McCain has the advantage in states representing 200 electoral votes.

McCain's advisers are hoping that the issue of the economy recedes, but the Los Angeles Times lead predicts sustained misery. “[A]lmost every major player in the economy...is now beating a hasty retreat,” says the LAT. Europe, meanwhile, isn't fairing much better and the Washington Post leads with the continent's four largest economic powers rejecting a joint strategy to shore up banks.

The leaders of Britain, France, Germany and Italy did, however, call for a global summit to revamp the international monetary system set up under the Bretton Woods Agreements.

Only a month ago Barack Obama's strategy of competing aggressively on Republican turf was looking overly ambitious. But, as the NYT reports, the weakening economy and Obama's fundraising advantage have given new force to his efforts to win at least nine states that voted for George Bush in 2004.

Not only does this give Obama more ways to reach the 270 electoral votes needed to win, it also forces John McCain to spend money defending once-reliable red states, while limiting his ability to compete elsewhere