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Let's start with the pros:
1) A damn good fundraiser. He'll be able to opt out of the general election public financing and it's stupid spending restrictions. Having a message is fine, but without money, the message is not heard.
2)He will be perceived as a candidate of change. That seems to be what people are looking for.
3) Seems to be good at attracting new voters and young voters to the political process. In this regard, his campaign operation is much more disciplined and professional than the Howard Dean operation in 2003-04.
4) His position on the Iraq War is "clean": he was against it before he was against it. This will allow for a right or wrong debate about the Iraq War with the Republicans without Obama having to twist his position into knots.
5) He does not polarize opponents like Hillary Clinton surely does. Conservatives may oppose him on the issues, but he does not make them white hot angry that way Hillary does. That will make it harder for the Republicans to mobilize their base.
Now the cons:
1) He is slow to hit back when he is attacked. As much as people say they like positive campaigning, they are still suckers for negative ads and smear campaigns. Obama must understand that you have to hit back hard and fast (as possibly with a few low blows yourself) when you are attacked.
2) The whole race thing is still a big unknown. I forsee a stealth campaign being run under the auspices of the Republican nominee that will be done so as to avoid having their fingerprints on it. Tactics will include whispering campaigns via e-mail, and "anonymous" mailers and flyers.
3) The experience issue will be raised on him again and again. Republicans seem to get way with lack of foreign policy experience (Reagan in 1980; Bush in 2000). Democrats do not. That's just the way things are.
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