1976 Presidential election: why was it so close?

[Bomster]

The Misery Index is a pretty nifty gauge of how well-off an economy is. It is computed by adding the inflation rate and unemployment rate together. Since the economy tends to be the biggest issue on voter's minds, it often predicts who will win elections. If the Misery Index increases from the year prior to the election year, the incumbent party will most likely lose. If it decreases, then the incumbent party will most likely win. The index actually fell from 1975-1976, so that probably explains why the election was so close, with the biggest reason for Ford's defeat probably being a desire for an outside among the American people after the stink of Watergate.