Obama's reelection odds keep slipping

Back in May, when Osama bin Laden was killed, they spiked briefly to 70 percent on the online prediction market Intrade. Then they settled into the low 60s, then the low 50s, and as of this morning they're at 48.9 percent. Given the president's dismal approval rating these days, I suppose one can argue that 48.9 percent isn't all that bad. Plus, Intrade is much less reliable when the event is so far off. But giving the incumbent a less than 50-50 chance of being reelected ain't all that great either, especially considering the goofballs campaigning to be the Republican nominee.