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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.

 BREAKING STORIES

Report: Palin abused power as governor

Negative ads can cause a physical reaction

Judge: Alaska must preserve Palin e-mails

McCain backer calls Obama 'Arab'

Russia: Georgia cease-fire implemented

Obama does U-turn on Clinton presidency

Mortgage lender drops eviction suit

McCain mortgage plan hit from both sides

McCain proposes 401(k), IRA changes

Obama proposes small business rescue plan

Iraqi PM: U.S. to withdraw troops by 2011

Turkish jets, artillery target Kurds

55 also-rans try again for House seats

Report: Palin to appear on 'SNL'

Poll shows Obama with double-digit lead

State races as fierce as national tilt

Former headmistress suing Winfrey

Afghan war cost causes Canada uproar

Suit alleges Wall Street fixed prices

Officials probe missing military data