This is a massively devastating loss for Mitt Romney. The candidate that conventional wisdom says would be most competitive against President Obama in the general election just had his hat handed to him. But this past week to two weeks have changed my mind on that, the conventional wisdom. I now believe, if things stay as they are, and especially if the economy continues to improve, that no Republican candidate currently running will beat Obama in the general. Romney is fatally damaged by Bain Capital and his tax returns. President Obama may actually want to face Romney and depict him as the poster boy for the 1%, because he is.
And then you have Newt Gingrich, who favorability ratings nationwide as Palinesque, if not worse. They are at -32 last time I checked. That is not only toxic to Gingrich, it will bring the whole GOP down. I just saw Haley Barbour quoted on Twitter saying that he doesn't want to have Gingrich as the nominee because he likes having a Republican Speaker of the House, meaning of course if Gingrich is the nominee, the Democrats will sweep the GOP out of majority control. And he is right. So Gingrich is not a general election threat.
But he is now a massive threat to Mitt Romney.