There's a meme going around suggesting the 2012 Republican field resembles the 1992 Democratic field -- wishful thinking in the hopes that a Bill Clinton type will emerge to defeat the popular (for now) incumbent.
It's true that in the early months of the 1992 presidential cycle, the field was described as "whoever will lose to George Bush" -- strictly because in the spring of 1991 Bush was riding high on an artificially high 90-ish percent approval rating following the end of the Gulf War, so Democrats were reluctant to challenge him.
But let's look at the Democratic field in and of itself. Bill Clinton -- even prior to announcing -- was a rock star in the party. Like President Obama years later, he had delivered a memorable keynote address at the previous presidential nominating convention and was most often compared to the Kennedys. Meanwhile, there was a populist former governor of Californa, Jerry Brown, a liberal spoiler, Paul Tsongas, a war veteran and former Navy SEAL, Bob Kerrey, and a swing-state governor of Virginia, Doug Wilder.
Hardly the equivalent to the goofballs and ragtags in today's Republican field.
But that's not why the comparison is being made. It's wishful thinking. The Republican establishment is desperate for a similar (and opposite, party-wise) outcome as 1992. And so the comparison is completely fallacious.
Sorry, Republicans. Your field sucks. Live with it.