“Betting the House on Obama”

November 6th, 2012 by DWM Magazine

“If I had to bet my house I’d bet by this much [shows a very small amount with his hands] that Obama wins,” said Alex Castellanos, Republican media consultant with more than two decades of political experience.

“It will be close,” he told attendees of McGraw Hill Construction’s Outlook Executive Conference, held less than two weeks before election day. “Can Romney win this? Yes he can. It’s that close.”

What will be the game changer?

“The silent majority may stand up on election day,” he said.

Regardless of who is elected, Castellanos said decisions regarding spending will still be made.

“We’re going to suck some money out of this economy because we have to,” he said. “There will also be some certainty [after the election.]”

If Obama wins, Castellanos predicted that “he will go to the right and get something done.”

“We have to start paying a price for the meals we’ve eaten and get healthy in the process,” Castellanos said.

Overall though, another industry expert says the construction industry won’t feel the effects of the election immediately.

“The first year following an election doesn’t make a big difference for construction but it does after that,” said Robert Murray, vice president, economic affairs, McGraw Hill Construction.

He predicted however that an Obama reelection would mean a continued emphasis on infrastructure and a Romney election would mean an easing of regulatory constraints and a focus on energy projects.

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