WHY HILLARY IS IN REAL TROUBLE:

A fourth observation: As Sunday’s debate showed, Mrs. Clinton is now running as basically the third term of President Obama. She may tweak what he did here and there, but she is fully embracing Mr. Obama. In an election year in which anger and disgust at the political establishment and business as usual are dominant and in which only a quarter of the American people believe the country is headed in the right direction, that is a dangerous strategy to adopt. In addition, there’s a historical burden Mrs. Clinton faces: Since 1948, a political party has won three straight presidential elections only once, when George H.W. Bush succeeded Ronald Reagan, who was much more popular at the end of his second term than, in all likelihood, Mr. Obama will be.

Observation number five: Mrs. Clinton may face real legal trouble. Right now there are two FBI investigations, and Mrs. Clinton is at the center of them.

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