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John McCain, the presumptive Republican nominee, is burdened by an unpopular Republican president and an economy heading downhill. But many polls show McCain in a statistical tie with Democrat Barack Obama.

ABC News political correspondent George Stephanopolous, a veteran of the 1992 campaign of President Bill Clinton, said that many people in both parties think that Obama is 5 to 8 points ahead of McCain. The most recent Gallup poll gave Obama only a 2-point advantage.

The race has remained close since Sen. Hillary Clinton abandoned her campaign after the last primaries. This is in spite of turmoil in McCain's campaign staff.

Steve Schmidt, a veteran Republican operative, is now in charge of day-to-day operations, replacing Rick Davis. Davis is credited with rescuing McCain's campaign after it stalled early on.

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