Team Obama thinks they have this won already.

[Absentee Voting Ghost of Ruin]

On the one hand, yes, Romney has run a very poor campaign in some ways, and he is also an amazingly weak candidate. On the other hand, Obama has nothing like passion he engendered in 2008, and arguably has not had a particularly successful presidency to date. While Obama is certainly in a more favorable position right now than he might otherwise expect, a great deal of the influences on the coming election are completely out of either candidates control. Getting cocky at this stage bodes ill for the quality of Obama's campaign in the home stretch.

[Peter the Lefty]

They're both running mediocre campaigns.  Obama's is slightly less mediocre.  A statement that works rather well for the stregnth of the two candidates as well.