Libertarian Leverage
Via Liberty Maven, Ron Paul Forums member 'Peace&Freedom' made an excellent post summarizing five ways that the Barr-Root ticket advances the rEVOLution. In a nutshell, the Barr-Root ticket will:
1. Ensure McCain's defeat, making it easier for Ron Paul Republicans to take over the party in the next cycle.
2. Pressures the GOP to move towards a pro-liberty position from within and without
3. A strong LP showing will prevent the GOP faithful from blaming the Paulites for the loss
4. Barr will continue Paul's themes, keeping Paul's campaign alive past the convention
5. Keeps alive the possibility that the GOP could choose to throw McCain overboard at the convention
Of all these benefits that the Barr-Root ticket provides, none is more intriguing than the possibility of the GOP rejecting a McCain candidacy that is 15 or 20 points behind in the polls at convention time. If McCain is down 55-35-10 (Obama-McCain-Barr) at the convention, couldn't the GOP libertarian caucus propose a joint Paul-Barr ticket in order to avert disaster in November? Although such a scenario is not likely to unfold, it remains a possibility.
Although we focus on a McCain-Paul swap-out at the convention, I wouldn't count out a McCain-XXX change. As I've stated before, I think that this race has the potential to become a lopsided victory for Obama. Although still in a primary fight, Obama is already leading in key swings states, and polls far better when Hillary's name is not included in the questioning. If he's down by 20 points at election time, what prevents one of his numerous health problems from being an excuse to drop out and the GOP going with Romney or Huckabee. Even without a backroom deal to have him drop out, what prevents the GOP from just throwing him overboard if he's down by 20 points? His only appeal, after all, to the GOP is his 'electability'.
At InTrade, McCain is currently trading at 95.5 for getting the GOP nomination. That's a 20-fold profit for anybody who has the foresight to short the contract if the GOP ends up dumping McCain.