He may be very smart to do this. I think there is sizeable segment of moderate Republicans who long for a return to the party's fiscally responsible roots (which is not represented by any of the other candidates with their pie in the sky supply-side demagoguery for the rich) and who are completely turned off by the holier-than-thou, know-nothing stance of all the other whack jobs in the GOP (to quote my FIL, who now considers himself a lapsed Republican: "I did not leave my party. My party left me.")
Obama's policies would have positioned him as a Republican 30 years ago. We don't care too much for his pussy-footing, but Romney appears to be the only potentially decent alternative on the right given the staggering problems this country is facing.
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