Giuliani would be an excellent choice for nominee in 2012 -- a much better choice than Palin.
Of course, I'm saying that because whoever gets tapped for the GOP will lose, lose badly, and have their national career ended. Since Giuliani is past it and not much of a conservative, the GOP would be giving away very little. Palin strikes me as a better conservative (not saying much I know), but she also seems totally hapless in media interaction. What I'm hoping as that both will be off the scene when a conservative nominee comes forward in 2016.
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