Political capital is primarily based on a public figure's favorable image among the populace and among other important factors in or out of the government. Political capital is essentially the opinion of another person, group of people, or nation about you, your organization, or your government. A politician gains political capital by virtue of his or her position, and also by pursuing popular policies, achieving success with initiatives, performing favors for other politicians, etc. Political capital must be spent to be useful, and will generally expire by the end of a politician's term in office. In addition, it can be wasted, typically by failed attempts to promote unpopular policies that are not central to a politician's agenda. American President George W. Bush claimed to have earned "political capital" after the 2004 elections.