I think President Obama will be re-elected. But one of the things that could cost him the election would be if the economic crisis in Europe spins out of control and has consequences here so dire that Americans lose turn to Mitt out of panic.
It would be ironic if Europe costs Obama the election because the same policies that are ruining Europe and causing further economic contraction and suffering — too much emphasis on austerity without enough emphasis on growth — are the ones the Republicans favor and Mitt wants to impose on us.
The only thing people would turn to Romney with after a short while would be disgust.