Bain Capital

Third-Place Race

With Michele Bachmann’s campaign dying in one last burst of flames, and Newt Gingrich literally being reduced to tears as his poll numbers plummet, the most important question in Iowa might be who comes in third next Tuesday behind likely frontrunners Mitt Romney and Ron Paul. A new NBC-Marist poll (see below) has Gingrich and the Ricks, Santorum and Perry, bunched together at around 15 percent.

Everything is Coming Up Romney

At this point in the game, with less than week before the caucuses, you can safely turn to polls of Iowa Republicans for an accurate gauge of where each candidate stands. According to the latest survey from the American Research Group, Mitt Romney has jumped to the front of the pack with 22 percent support, as Ron Paul and Newt Gingrich fall to 16 percent and 17 percent, respectively. When placed in context with other polls from other firms, Romney is clearly on the upswing. Here’s Talking Points Memo with its average. The black line is Romney:

Paul on Track to Win Iowa

GRINNELL, IOWA—It looks as though we can safely dismiss a Santorum surge or a Perry reboot. For Romney, the polls hang steady just under a week before the Iowa caucuses, according to Public Policy Polling. Ron Paul maintains his lead over Mitt Romney by a 24-20 margin, statistically unchanged from the 23-20 percent gap last week. But Newt Gingrich's support has disappeared. The former House Speaker held a lead in the Midwestern state two weeks ago, but has now dropped down to third place at 13 percent, only slightly above Michele Bachmann at 11 percent and the two Ricks at 10 percent.

Second Time's the Charm?

A favorite trope of election coverage is to compare the current race to past elections. Is Barack Obama Jimmy Carter in 1980? Is 2012 a repeat of the 2004 election? Or is this year going to be just like 1896? With Mitt Romney, however, there's a far easier comparison: Mitt Romney in 2008. In the last presidential election cycle, Romney faced many of the same criticisms he does now: He was accused of being a flip-flopper and assailed for his religion and personal wealth. His failure to respond effectively to these accusations—and his fateful decision to stake his campaign on a win in Iowa—were his downfall.

Ringside Seat

“The Republican Party has gone insane,” influential conservative commentator Erick Erickson wrote this morning. He was referring to GOP’ers support for Mitt Romney and Newt Gingrich, despite those candidates’ one-time backing of individual mandates to buy health insurance—a cardinal sin for conservatives. But he might just as well have been talking about the Republican nomination race writ large, which has turned into a political version of Pick Six. Fifteen days before the Iowa caucuses, the Gingrich bubble has burst, his support dropping by half.

The Bain of Mitt's Existence

In an election year certain to be defined by the growing gap between the wealthy and everyone else, Mitt Romney’s time at Bain Capital—during which he bought and restructured companies for a profit—is a liability. The Romney campaign knows this and has been aggressive in trying to turn Bain into a strength for Romney. In his stump speeches and debate performances, Romney has made Bain the centerpiece of his economic message, and when attacked on his former career, he presents it as a net positive. To wit, here’s how the Romney campaign responded after Newt Gingrich accused him of destroying American jobs:

Last-Chance Dance

After a dozen different bouts in venues across the country, the Republican presidential debates have become a little like NASCAR; part of the thrill of watching is that you might see someone go up in flames.

To Flop or Not to Flop: That is the General Election Question

Time to take an intermission from predicting paths to the GOP nomination and imagine what the GOP's general election campaign could look like. Let's take the two most likely nominees. It's relatively easy to imagine how Gingrich would campaign if he became the GOP candidate: the same way he's campaigned for the last few decades. One of Newt Gingrich's defining qualities as a politician is his unwavering confidence in his own ideas. Part of Gingrich's appeal is when you vote for him, you know what you're going to get. This appeal is also why many assume Gingrich will not ultimately be nominated—the Democratic and Republican elite both think the general public won't like what they see.

No One Can Win the Republican Nomination

AP Photo/Eric Gay

With the air going out of the Newtster’s balloon—not surprisingly, as everyone who has ever worked with him (possibly, everyone who has ever met him) has declared him too unstable and egomaniacal to win—the latest smart-money bet in Iowa is Ron Paul, whose libertarian delusions render him unelectable as well. Mitt Romney, having entered that phase of the campaign where he has to campaign among actual people, is trending downward, too. That leaves Jon Huntsman, who can take votes from Romney but not likely from anyone else, and Rick Perry, who can still boast of impressive credentials but who’s still saddled with an unimpressive brain.

Romney Meets Veteran

Stop me if you've heard this one before. So Mitt Romney sits down next to a grizzled, flannel-shirt-wearing Vietnam vet in hyper-conservative Manchester, New Hampshire, and asks him about his service. It's a softball, right, made for the TV cameras?

Wrong:

But 63-year-old Bob Garon wanted to talk about gays in the military—because he is a gay veteran. Garon was sitting in a booth across from his husband, Bob Lemire, at Chez Vachon, a must-stop diner for politicians looking for votes in the New Hampshire primary.

Upright and Alright

Rick Perry finally found a sense of vigor and cowboy swagger when he took the debate stage at Drake University this weekend. In previous debates, the Texas governor either stumbled his way through inept and forgetful answers, or would just assume a sleepy gaze during the second half with nothing to add to the proceedings. But in the latest contest, he ripped into Mitt Romney, instigating the night's most memorable moment when Romney reached his hand over and offered a $10,000 bet against Perry.

Were the Debates a Mistake?

If you can get past the attacks on President Obama, the disregard for actual economic conditions, and the assertion of “philosophical decreptitude” in American liberalism, you’ll find a smart point about the GOP presidential debates in Fred Barnes’s latest op-ed for The Weekly Standard. For your sake, I’ll just post it here:

Besides aiding Obama, Republicans have hurt themselves in numerous ways by letting the debates be the organizing events of the campaign. The stronger candidates have been diminished by appearing, debate after debate, on equal footing with also-rans whose chances of winning the party’s presidential nomination are nil.

Ryancare and the Tea Party

Journalists covering Romney’s new position in favor of the Ryan Medicare plan have focused on how this will be a boon for Democrats if Romney gets the nomination.  “The reason this matters: It will give Dems a weapon in the general election against Romney,” says Greg Sargent, blogging at the Washington Post.

That Didn't Take Long

Yesterday I noted that the pro-Mitt Romney Super PAC Restore Our Future was launching its ad campaign on a positive note. Sure, their commercial started off by attacking Barack Obama's early career as a community organizer, but it refrained from vilifying Newt Gingrich. That was somewhat unexpected; all signals indicate that Romney's campaign has entered panic mode over Gingrich's unexpected rise in the polls. But disparaging an opponent can backfire. So far the Romney campaign has avoided going negative.

Today in Smackdowns

Mitt Romney, speaking to the editorial board of the Washington Examiner:

I am very concerned that this president is putting America on a path toward appeasement internationally and entitlement domestically. That we go from being a merit-opportunity society to an entitlement society. And it’s going to require a dramatic change in Washington by someone who knows how to lead. [Emphasis mine]

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