What is the current status of the 2012 Presidential election? [Reader Post]

It is confusing to determine where we are in the Presidential race. Headlines scream out: Obama up by four, Romney and Obama tied in latest poll. Then there are the confusing state poll results. On the same day a poll shows Romney leading in a national poll, a state poll will show Obama pulling away in a “battleground” state.

This article sets forth a model that can be used to accurately describe the current state of the Presidential race and who is likely to win in November.