By Jeff Cox, CNBC.com Senior Writer
NEW YORK ( CNBC) -- Bank of America Merrill Lynch experts think they have the presidential election next year figured out, and the news is not good for the incumbent. President Obama likely will lose in a narrow race, while the Republicans also take complete control of Washington by getting a Senate majority as well, according to the BofAML "base case," or most likely scenario that is predicated on a president's chance of re-election amid a stalled economy. "Right or wrong, the party in control of the White House is held responsible for the state of the economy," writes Ethan Harris, BofAML's North American economist. So what will a changing of the guard mean for the sluggish economy? Good things, according to Harris' analysis.
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