The 2012 presidential campaign is degenerating rapidly.    

Neither side is addressing the issues facing America.  That much is sure.  

But what is equally clear is that both sides are competing to see who can do the most effective negative ads.

The Romney team is hoping they can win the 2012 election with an entirely negative campaign - attacking President Obama over and over.  

Meanwhile, the Obama campaign -- understanding that if the 2012 election is entirely a referendum on the president, they will probably lose --  has made the demonization of Mitt Romney the central organizing principle of President Obama's reelection campaign.   

Virtually all of President Obama's recent campaign speeches and ads have focused on the source and scope of Romney's wealth, his tax returns, and his tenure at Bain Capital.  

And so far, this attempt to