If this economy remains stagnant, then Mitt will look pretty good.
He has three problems. First, he's a Mormon. Nearly half of Americans said
they won't vote a Mormon. But hey, if Americans can vote for a black, liberal, muslim, anti-American terrorist who was born in Kenya for President, maybe they'll vote for a Mormon!
Second, he's a slimeball. He changed his position on pretty much everything in the last election to appeal to evangelical voters. But four years is a long time, so maybe everyone will forget and he can redefine himself. Since nobody can remember what happened last week, he can get over this.
Finally, and maybe most important, as former head of Bain Capital, he's going to have to explain why he should be elected President, given that he got rich piling up a ton of debt on companies and firing lots of people. Given that the next election could turn on excessive government debt and high unemployment, that's not something you want to be defending to Americans. That is, of course, if the Democrats don't act like dumbass idiot wimps and not go after Romney on this, which I suspect they won't.
Otherwise, he'll be a pretty formidable candidate.