In February, I speculated that this might leave room for a third party. That is no longer possible because the major-party supporters are solidly behind their candidates. And I also thought that Romney might be able to adjust the equation by unifying the Republicans. He has done so, but so has the president with Democrats. So it's a wash.
Two unelectable candidates running overwhelming negative campaigns against each other will result in one's winning and one's losing in November, but with the winner unlike to have a mandate for governing or a vision that the public was behind. And with the results in congressional races likely to produce a Congress even more split, it certainly doesn't bode well for functional governing next year.
I hold out hope that in the next three months something will break this dynamic, and give us an opportunity to deal with the major issues in a positive way. But I am realistic that whoever wins the election as president might be akin to the No. 2 finisher at the Tour de France who won because the winner was disqualified.