What makes him such a genius of research and reliability is that everything is of exactly the same importance to him. The smallest thing is as consequential as the biggest. A semicolon matters as much as, I don’t know, whether Johnson was gay.
Disclosure: I own about $1,400 of Morgan stock, an insignificant portion of my investable assets. It’s the result of bank consolidations and decades of reinvested dividends. The holding stems from my purchase of one share of National Bank of Detroit about 40 years ago, when I was the Detroit Free Press’ banking reporter and wanted guaranteed access to shareholder documents and the company’s annual meeting.
Let me phrase this way of thinking slightly differently: Obama already has a significant advantage in the ground game, but faces a potentially huge disadvantage in the air wars. Therefore, the donors have concluded, they should invest their money augmenting the ground game.
Does this make any sense at all? No, it does not. It’s backwards. The most effective way to spend money is where your side has the greatest disadvantage. Beefing up the already strong Democratic turnout machine would certainly help, but a marginal dollar spent to narrow the advertising gap would surely help more.
Jonathan Chait nails it.