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Re:The Twitter Political Index by kreilly on Wednesday August 01, 2012 @02:07PM (#4324585)
Here is a good USA Today article that provides a bit of background about how this works:

http://www.usatoday.com/news/politics/story/2012-08-01/twitt...

I was very surprised to read in the article that:

"The Twitterverse isn't particularly politically biased, say the Republican and Democratic pollsters who worked on the project, because while Twitter users overall may be younger and therefore more likely to support Obama, conservative tweeters tend to be more active."