Tuesday's election

How are we to interpret GOP gubernatorial victories in New Jersey and Virginia on Tuesday? If you’re Michael Steele, you’ll call it a bellwether and a sign that the party is being reborn.

If you’re the president, you’ll say the races had more to do with local issues than with being a referendum of your own policies, even though you campaigned for Democrats in both races.

My guess is the truth probably lies somewhere in between. The governor’s races weren’t really about President Obama. However, they did show that independent voters can be swayed from one party to the other, which will set up some very interesting congressional races a year from now.

What do you think? Am I under-estimating a larger meaning to it all?