The neck-and-neck race between President Barack Obama and the presumptive Republican nominee, Mitt Romney will be the most expensive campaign in American history. It will be a battle between two robust political organizations. And it is a good bet things are going to get really nasty.

There are genuine differences between the two candidates — one is a classic liberal, the other a classic conservative — but neither is a renegade. And, despite what the partisan bombast may allege, neither man is anything close to a radical.

Arguably, Messrs. Obama and Romney both carry as many liabilities as assets. For President Obama, the economy continues to be the biggest drag on his prospects. Though things are better now than they have been in several years, and though the Obama camp can correctly argue that the president came into office facing the worst economic conditions in 80 years, many people still expected better.