By Fareed Zakaria

President Obama has surged in the polls in recent weeks, and Republicans have been quick to identify the problem: Mitt Romney. The columnist Peggy Noonan eloquently voiced what many conservatives believe when she said that Romney’s campaign had been a rolling calamity.

And yet shouldn’t it puzzle us that Romney’s campaign is so “incompetent,” as Noonan calls it, given his deserved reputation for, well, competence? After all, he founded one of this country’s leading financial firms, turned around the failing Salt Lake City Olympics, and was a very successful governor. How did he get so clumsy so fast?

In fact, the problem is not Romney, but the new Republican Party.

Watch the video for Fareed's full take on the problems facing Mitt Romney. Fareed Zakaria GPS airs on Sundays at 10 a.m. and 1 p.m. ET.