Top Stories

MIAMI (CBS) ― Rudy Giuliani is entering the most crucial moment of his political life and many are wondering if the former mayor has enough support to win the Florida primary despite having exhausted most of his resources in the effort to win the Sunshine State.

It's a strategy that many political consultants have been calling very risky. So risky in fact, that some are calling his grand plan to use Florida as a springboard to the Republican nomination for president a failure.

A new poll released by Siena College revealed the latest disheartening news for his political machine on Monday. Just a month ago, the poll had him comfortably ahead of the now surging Sen. John McCain. The once commanding lead has evaporated and Giuliani now even trails in his home state.

Some believe his descent from the hill that is the national stage has made him a "mystery" candidate, who voters say, hasn't made enough noise to convince them. 

Monday however, the former mayor pushed on in Florida, where his campaign has shifted its emphasis in recent days from his Sept. 11 leadership to current economic issues. "My Republican opponents want to do tax reductions of one kind or another, but none of them are as bold as mine," he said.

McCain currently leads Giuliani by 12 percentage points, a sharp reversal from the former NYC mayor's 33-point lead over the Arizona senator in Siena's December poll. McCain had the support of 36 percent of New York Republicans, while Giuliani had 24 percent and former Massachusetts Gov. Mitt Romney had 10 percent, the latest poll showed.

Giuliani has bet his entire presidential campaign on Florida, which holds its primary next Tuesday. While other candidates campaigned in Iowa, New Hampshire, Michigan and South Carolina, he retreated to the gator state, only to watch his competitors seize the momentum. Now he's hoping New York transplants in Florida will save his White House hopes.

"His risky strategy of waiting for Florida seems to be problematic," said political consultant Joseph Mercurio.

It has turned out problematic for another reason as well. According to a Giuliani insider, his campaign is low on money and he'll be headed back to New York to fundraise for his final push in Florida and his eventual campaigning in his home state.

But another poll has former Massachusetts Gov. Mitt Romney in front, with 25 percent of the vote. McCain and Giuliani are right behind with 20 and 19 percent.

According to a Giuliani spokesman, a win in the sunshine state will turn his fortunes around and give him a boost heading into Super Tuesday.

Giuliani's decline in the state he led through the Sept. 11 terror attacks six years ago surprised many.

"I still think that, despite the fact that Mayor Giuliani has been falling nationally, to see the level of how far he fell in just a month in his home state is stunning," said Siena poll spokesman Steven Greenberg.

"Trailing in New York is no good for Giuliani, but McCain hasn't closed the sale," said Lee Miringoff of the Marist College/WNBC poll. "This is very much a primary in flux ... but the longer (Giuliani) fails to appeal to voters, the worse it gets. And this points out that even here in New York, his problems are notable."

New York's primary is Feb. 5, part of the Super Tuesday balloting in 24 states.

The WNBC/Marist poll showed 34 percent of Republicans, including those "leaning toward" a candidate, favored McCain, while 23 percent favored Giuliani, 15 percent former Massachusetts governor Mitt Romney and 11 percent former Arkansas governor Mike Huckabee.

McCain runs strongest upstate, the source of most Republican primary votes. A regular guest on the "The Daily Show with Jon Stewart" -- which is influential with its young audience -- McCain beats Giuliani among college-educated Republicans, 18- to 44-year-olds, moderates, conservatives, and among first time voters in a GOP primary.

U.S. Rep. Peter King said Giuliani will still take New York.

"The people of New York know better than anyone that Rudy is the bold and gutsy leader our country needs right now to tackle the tough challenges," the Long Island Republican said. "Mayor Giuliani will win New York because voters around the country want a president who has been tested in crisis, is a proven tax cutter and will get results because he's gotten them before."

Siena's Greenberg said Republican women gave Giuliani a small edge while Republican men backed McCain, the Vietnam war hero, by a 3-to-1 margin.

For the first time in a Siena poll, Giuliani had a higher unfavorable rate -- 48 percent -- than favorable. McCain was viewed favorably by 56 percent of New Yorkers.

Giuliani, for years considered a leading GOP candidate for president, has taken a beating from Iowa through New Hampshire to Nevada and South Carolina. He has focused on Florida, believing that if he can score his first win there he will be launched toward a series of victories on Super Tuesday.

(© 2009 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. The Associated Press contributed to this report.)