John McCain has limited private sector and administrative experience; he has issues with certain elements of the Republican base, the current economic picture is challenging, health care has been a key issue this year, and he will likely deal with a Democratic-led Congress. Mitt Romney's impressive business credentials and success with Bain Capital, his organizational skills with the Salt Lake City Olympics, his gubernatorial and bipartisan leadership experience and exposure to health care reform in Massachusetts, and his popularity with many conservatives nicely complement the strengths John McCain brings to the top of the ticket. In addition, Mitt Romney has shown an ability to draw support in the western states and enjoys a favorite-son status in Michigan.
This is not to say Mitt Romney is a perfect running mate: John McCain and Mitt Romney had clashes during the campaign; Mitt Romney contradicted earlier stands on issues like abortion and immigration; he outspent and ran largely negative campaigns against his competitors, using his considerable resources which they couldn't match; he doesn't poll well with conservative evangelicals, and he won't be able to deliver Massachusetts. However, primary campaign differences come with the territory (e.g., Reagan chose Bush, despite the "voodoo economics" charge), and any Republican running statewide in a liberal state like Massachusetts would probably need to engage in some political posturing.
Some are suggesting nominating a strongly-qualified black, like Gen. Powell or Secretary Rice, which would provide a stark contrast against a thinly-qualified Barack Obama. Or perhaps Governor Palin of Alaska (as an alternate female candidate) in a year Hillary almost won her party's first female nomination. First, choosing someone as closely tied to the incumbent as Powell or Rice just feeds into Obama's spurious allegation that McCain is running for George W. Bush's third term. Second, their expertise wouldn't really add to McCain's strong credentials on the military and foreign policy, although their administrative experience is a plus. Palin's reformist reputation integrates well with McCain's, but certain allegations have been raised which essentially rule her out of this year's race. Gov. Bobby Jindal of Louisiana also would bring strong reformist credentials, in addition to his Congressional experience; however, he's already ruled himself out as a candidate.
Two other Purple State candidates have also been mentioned: Minnesota Governor Pawlenty and former Ohio Congressman/Bush Administration official Rob Portman(trade and the budget). I think the Bush connection probably rules out Portman. McCain probably needs to balance the ticket more towards the conservative side (ruling out Pawlenty), just as Reagan felt he needed to balance the ticket with a more moderate George Bush.
Given the challenges of the economy and McCain's painful admission, much repeated by Democrats, that economics isn't his strong suit (not that any of the Democrat lawyer candidates are trained economists themselves), I think Romney's success at Bain Capital and his being articulate and knowledgeable about economic issues are things none of the other people bring to the table.
John McCain may surprise me, just as President Bush 41's choice of Dan Quayle surprised me. Other candidates have also been mentioned (e.g., Sanford of South Carolina), but I fully expect McCain to carry the South. I really think Mitt Romney is a compelling pick at this point.
