Tuesday's three big races are in no way a referendum on the president's first year or prediction of what might happen in 2010, White House Press Secretary Robert Gibbs stressed this afternoon.

Rather, Gibbs explained, it was inaccurate and inappropriate to "draw any great insight about what is going to happen in a year" from the two gubernatorial contests in New Jersey and Virginia and the special House election in New York.

"We don't look at either of these gubernatorial races or the congressional race as something that portends a lot for our legislative efforts going forward or political prospects in 2010," Gibbs said during Tuesday's press briefing.

"In 2001, [Republicans] lost Virginia and New Jersey," Gibbs added. "I don't believe that impacted [President George W. Bush's] legislative initiatives going forward."

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Amid the possibility Democrats could lose all three races on Tuesday, pundits are questioning whether it in any way undermines the president's political agenda -- or, worse, if those losses are in any way the president's fault.

Obama has campaigned for both New Jersey incumbent Gov. Jon Corzine (D), who seems neck and neck with Republican Chris Christie, as well as Virginia Democrat Creigh Deeds, who is trailing in polls against GOPer Bob McDonnell.

The White House also reportedly made an overture to ousted Republican Dede Scozzafava before she offered her endorsement to NY-23 Democrat Bill Owens, who is campaigning aggressively against Conservative Party candidate Doug Hoffman, also up in late polls.

But Gibbs said the president's involvement in any of those contests does not signify White House has an immense political stake in the races. While the press secretary stressed the president supports all of the Democratic candidates running on Tuesday, he cautioned reporters not to surmise from the results anything about the president's record or goals or the party's chances in subsequent big elections.