It's now just a two-man race for the GOP presidential nomination — and former Salt Lake Olympic leader Mitt Romney can beat former New York City Mayor Rudy Giuliani.

At least that's the way Sen. Bob Bennett, R-Utah, a longtime Romney supporter, handicapped the Republican contenders for the White House in a meeting Tuesday with the Deseret Morning News editorial board.

Utah's junior senator all but ruled out the chances of two other Republicans, Arizona Sen. John McCain and former Tennessee Sen. Fred Thompson, who has yet to formally enter the presidential race.

"I think it is now a two-man race between Romney and Giuliani, and Giuliani is ahead," Bennett said. "But if Romney wins Iowa, which he certainly looks like he will, and he wins New Hampshire, he has to command the media attention to close the gap in the national polls."

Bennett said Romney trails Giuliani in most national polls because he's not as well known as Giuliani, who as mayor was widely hailed for his handling of the Sept. 11, 2001, attacks on New York City.

Romney did gain some attention leading the 2002 Winter Olympics in Salt Lake City from scandal to success and also for serving a term as governor of Massachusetts before entering the presidential race.

But it's Giuliani who is seen as a "tough guy" who can deal with the war in Iraq, Bennett said. Even more important, according to the senator, is that Giuliani is viewed as the candidate best able to beat the likely Democratic nominee, New York Sen. Hillary Clinton.

Romney can win, Bennett said, if he begins polling as strongly against Clinton.

"If the numbers change on the 'I can beat Hillary message' as a result of Iowa and New Hampshire, Romney will be the nominee," Bennett said.

Thompson is no longer a threat, he said.

"I'm less concerned about Fred's impact on the race than I was," Bennett said, citing the would-be candidate's trouble raising money.

Thompson's first fund-raising attempt netted only $3 million, Bennett said, less than half of what Romney collected in a similar early event.

"Early money is the easy money because you pluck all the low-hanging fruit," the senator said, calling Romney "superbly organized" at rounding up contributions from his most likely donors at the start of the year.

Romney has continued to raise more money than his GOP competitors through mid-year but has slowed. Bennett said starting with less at this stage of the campaign means Thompson is "going to have a hard time putting together enough money."