Yes, the presidential race is very close, and some public polls show it getting closer as we go into the final hours, but in one sense it's actually been stable for months.

On the other side, you have the conservative intelligentsia - magazines like National Review, which has a big anti-Trump issue; Weekly Standard editor, conservative talk show hosts - they're mounting a big anti-Trump effort, pro-Cruz effort because they think [Donald] Trump is dangerous and he's not qualified to be commander in chief.

No one is predicting that the Democrats will get the 30 pickups they need to take back the House majority.

Meanwhile, there are some traditional battleground states - like Ohio and Iowa - that are becoming older, whiter and less educated. That's turning them from true battlegrounds into more reliable red states.

If Donald Trump wins, it will be a seismic event.

White voters were 72 percent of the electorate in 2012, and their share of the population has shrunk a couple points since then. [Donald] Trump has had trouble winning certain segments of the white vote, such as suburban women and college-educated voters.

If [Hillary] Clinton can come close in those two traditionally red states, it will be because of the diverse, educated populations around Atlanta and Phoenix. And it will be a sign that Arizona and Georgia are on their way to becoming the new battleground states.