Since securing the nomination, Romney has reverted to his old approach. Instead of trying to win, he seems to be waiting for Obama to lose. When the Supreme Court declared the individual mandate a tax, instead of barnstorming the country to hammer Obama for enacting a massive tax increase on the middle class, Romney went jet-skiing on Lake Winnipesaukee. While Romney has been largely running positive ads, Obama has spent nearly $100 million in battleground states on mostly negative ads about Romney’s tenure at Bain — declaring him a “pioneer of outsourcing” who is running for “outsourcer-in-chief.” Obama’s ad buy has dwarfed Romney’s by a margin of at least 4-1. Result: Only 18 percent of swing state voters see Romney’s business experience positively while 33 percent viewed it negatively. Obama is taking Romney’s greatest asset — his business experience — and turning it into a liability. …

The problem is: It shouldn’t be a tie. Obama is coming off of the worst three months of an incumbent president during an election year in recent memory. Consider the litany of blunders and bad news he has suffered — from his declaration that “the private sector is doing fine,” to his ugly fight with Catholic leaders over his Health and Human Services mandate, to the controversy over his intelligence leaks, to his decision to invoke executive privilege in the “Fast and Furious” scandal, to the string of bad jobs reports that show we are in the weakest recovery since the Great Depression. Yet despite the endless stream of bad news, the president is running even with Romney. In fact, he’s gaining. Three months ago, Gallup had Romney with a five-point lead over the president; today, they are at 46-46.