Analysis: Why Romney lost US presidential race

WASHINGTON - On paper, Republican presidential challenger Mitt Romney has everything he needs to win the White House this year.

He has a strong business background that appeals to economically anxious voters, the support of outside groups that have raised an unprecedented amount of money to support him, and most importantly, a persistently high level of joblessness that puts unrelenting pressure on the incumbent, President Barack Obama.

But in the end, the 65-year-old former Massachusetts governor lost because he lacked that one critical ingredient - the political instincts to make the advantages and opportunities count.

Mr Obama, in contrast, made full use of the power of incumbency and his battle-hardened re-election team to carve out a victory that defied economic gravity. No sitting US president since the Great Depression in the 1930s has won a second-term with unemployment this high.