Ezra Klein is pessimistic about the Democrats:
I think we’re in an odd, if temporarily satisfying moment, wherein the Democratic candidates are much more appealing to the Left than the Republican candidates are to the Right. That said, I actually think McCain, Giuliani, and Romney are all quite strong general election candidates, a fact being obscured by their uncertain navigation of the primaries.
See also this column by Kathleen Parker, who argues that Fred Thompson makes more sense as a vice presidential candidate than as an alternative to what is actually a pretty strong GOP field.
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