[Posted by Karl]
The conventional wisdom is that Mitt Romney, the first GOP non-incumbent to win the Iowa caucuses and New Hamsphire primary, is thisclose to being the party’s de facto presidential nominee. The conventional wisdom is almost certainly right. However, one of my New Year’s resolutions has been to question straight-line projections from the current situation.
So how could Romney lose the nomination at this point? At a minimum, he would have to lose (or eke out a squeaky Iowa-esque win) in South Carolina. Could that happen? The latest poll from Insider Advantage has Romney ahead of Newt Gingrich by only two points. That’s just one poll, but PPP has its Palmetto state poll due later today that may well show a competitive Mitt vs Newt race.
If Romney stumbled in South Carolina, the questions about his candidacy would linger and perhaps grow, depending on the degree of the stumble. People would revisit his IA and NH wins and perhaps conclude they are more the product of divided opposition than any improvement in Mitt as a candidate. They might worry about how much worse the Bain issue might play in a general election in the hands of the left. They might think hard about whether 2012 is the year to nominate a high financier.
Romney is well ahead of Gingrich in Florida at the moment. But a win (or very-near-win) in South Carolina might change those numbers. Indeed, those numbers include Rick Santorum; if he dropped out, Romney would likely find himself in a tight race with Gingrich, whose favorables even now are second only to Romney’s in the Sunshine State. If Gingrich beat Romney in Florida, Mitt would have a severe case of The Emepror’s New Electability.
I doubt all these dominoes would fall Newt’s way. Romney is well-organized, well-funded, and has the establishment lining up for him. Gingrich even now is a loose cannon capable of doing himself in, with loads of his own baggage. Romney is a better fit for South Carolina than he was four years ago. Other NotRomneys, including Santorum will likely stay in the race through Florida, allowing Romney a win in the fashion McCain won four years ago.
The conventional wisdom is that Mitt Romney, the first GOP non-incumbent to win the Iowa caucuses and New Hamsphire primary, is thisclose to being the party’s de facto presidential nominee. The conventional wisdom is almost certainly right. But if Romney was going to lose, this is probably how it would happen.
–Karl