They don't know how the election will turn out, so for now they're just 'keeping their powder dry'.
The girls put on their lipstick and (face) 'powder' before heading out to the dance.
The boys decided to 'take a powder' as soon as they saw there was work to be done.
(..) Didn't see that coming, huh? What kind of mother are you? How about you feed the kid a decent meal every now and then, huh? Give him a bath. Put some baby powder on him. Get him some decent TV to watch. I mean, what is this shit? Are you serious? You give me one hit, and I'll be (..)2009 TvShow: Breaking Bad Title: Peekaboo Season: 2 Episode 6