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I always figured Romney would have been a disaster for the Republicans. He was probably the most transparently phony politician in modern times. His flip-flops were breathtaking. His religion (unfairly, IMO), made him a figure of suspicion on the religious right AND among many secular and liberal voters. All spring polls that pitted him against either Clinton or Obama showed him losing by 15-20 points. One poll even showed Obama outpolling Romney by 30!
Yet given the trajectory of the McCain campaign (straight down), I honestly at this point doubt that Romney would be doing any worse. Much of Romney's weakness was with the Republican base. Most of them would have come home, even if they had to hold their noses. And even if Romney's numbers in the South were depressed, it's hard to imagine that even increased black turnout would deliver Obama victories in places like Alabama, Texas, Louisiana or most of the rest of the South.
Moreover, Romney can talk about the economy (even if he's wrong). He sounds intelligent (and is). Given his penchant for ideological contortions, he'd probably have pivoted from running far-right in the primaries to running as a pragmatic, economic centrist during the GE. He'd have a big cash advantage over McCain. His campaign staff almost certainly wouldn't have had the kind of infighting the McCain campaign does. He would likely have used the spring Obama/Hillary battle to make several major national ad buys to bring up his numbers. And he'd definitely not have picked a joke like Palin to be his running mate. Instead, he'd probably have picked someone like Tim Pawlenty or Haley Barbour (MS gov.) to be his running mate.
All in all, his numbers would probably have slowly climbed during the summer. Obama would still have led most of that time, but around the conventions Romney may have pulled even or close to even.
As for now? Even if he weren't even with Obama, I doubt he'd be doing any worse than McCain is currently. And he may have been doing somewhat better, given that he can talk about the economy far better than McCain.
Of course, all of Romney's many weaknesses would still be in play, and maybe he'd be in a far worse position. But the point is that throughout most of this year, it has seemed obvious that the Republicans picked their most electable candidate -- the one Republican who could have kept the WH this year -- yet now that assumption looks like it may have been flawed.
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