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No one can realistically believe that McCain wouldn’t be better. No one can seriously claim that Romney wouldn’t be better.

Maybe, but I'll take a stab at explaining the differences, as I see them. It's a matter of degrees. Examining some key issues here is what I see in terms of Obama, McCain, and Romney.
Health care deform: Both McCain and Obama supported socalized medicine and McCain was notorious for reaching across the aisle. We would probably have McCain rammed down our throats instead of Obamacare. Romney came up with Romneycare and as has been shown suggested at the time his plan was something the federal government could use as an example. So will he stand for repealing it? Maybe, but probably not.

Budget: Our massive spending and debt under both Bush and Obama should prove the republicans can spend like drunken sailors too. The only way the budget is going to get fixed is if we have someone with the gumption to stand strong against the democrats and their pet programs. Considering the revised number on Obamacare a repeal is needed to even get close to a reasonable budget. This is Romney's strongest (least weak) category, but surely not an encouraging one. He'd be better than Obama, but maybe not different enough to matter in the long run.

Judiciary: This was the reason I supported McCain against Obama in 2008, I figured it was important that we have decent justices on the Supreme Court. Romney's record speaks for itself he has appointed Liberal judges including ones with strong pro ‘gay rights’ stances. Let's not let Romney off the hook because he was governor of a Liberal state, think what that implies about his choices if the Democrats get the house or senate. Again pretty hard to tell if he'd be better than Obama.

Abortion: We know where Obama is. We aren't sure where Romney is, but it doesn't look good.

Gun Control: Obama: typical liberal; McCain: probably would have been okay. Romney: record not the greatest, again no passes for being in a Democrat state.

Electability: As this discussion proves many in the tea-party crowd and republican base are less than thrilled with Romney as they were with McCain. That can't bode well in November. Also, I know it hasn't become an issue yet (libs are still gathering ammunition); but Romney's religion stands a pretty good chance of making this election all about race after all it will be hard to differentiate in some other key areas which makes it hard to campaign. Romney has done a good job beating up Republicans, how well will he do against Obama? Better to take a stand now than rerun 2008 all over again. Yes, I'm seriously claiming Romney wouldn't be that much better. I'm certainly not giving up while there so much as a snowball chance in Hades of another option to Romney and Obama.