Mondale was electorally decimated by Ronald Reagan.
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The number of electors required to win the presidency in the United States is 270 (as of 2014). The candidate has to receive the absolute majority of the votes.
There were four American presidents who tried to win presidency but failed the first time. They are Millard Fillmore, Richard Nixon, Ronald Reagan, and George Bush, Sr.
The United States requires 270 electoral votes for a candidate to win the presidency. Since there are a total of 538 votes available, a candidate can lose with 268 votes.
Huey Long wanted to win the presidency for himself
Democrats had gained enough power to get things they wanted from Republicans.