David Frum excuses Romney's caricatures of Obama:
[E]lections turn on more than facts, promises, and programs — especially this current campaign for the Republican nomination for president. More perhaps than most, this election turns on shared feelings. Many Republican primary voters have been sold a narrative or image of the Obama presidency in which a radical socialist alien president is seeking to wreck and overturn the American way of life and the free enterprise system. That narrative is nuts, but unless you signal that you share the nuttiness, your campaign goes the way of Jon Huntsman's.
Romney, having no interest in martyrdom, has sent his share of such signals. And it is those signals that I doubt he believes. Whatever else Mitt Romney may be, he's certainly no fool. So when he says something foolish, I assume there must be a part of his brain that knows better. What choice does he have?
Elsewhere, Frum explains how he sees the Gingrich-Romney fight.