As we talked about earlier, John McCain probably didn’t want to endorse Mitt Romney today, but he did. Was this largely a matter of party loyalty and the Republican establishment rallying behind their guy? Probably, though there are a couple of related angles to consider.

For one thing, as much as McCain dislikes Romney, he dislikes Rick Santorum more. For another, as much as McCain dislikes Romney and Santorum, he hates President Obama with the heat of a thousand suns.

McCain took the microphone and delivered a full-throated rebuke to Obama: “My friends, our message to President Barack Obama is you can run, but you can’t hide from your record of making this country bankrupt, from destroying our national security and for making this nation one that we have to restore with Mitt Romney as president of the United States of America.”

That struck me as a curious indictment, especially for a prepared speech.

The country is “bankrupt”? What does that even mean? We have the world’s largest economy; we pay our debts; and the world is still eager to loan us an enormous amount of money at extremely low interest rates. Is McCain just throwing around words again without understanding them?

But even more interesting is the notion that the president is “destroying our national security.” Now, I can understand why Obama’s liberal detractors criticize the administration’s policies when it comes to the national security state, prosecution of wars, detainees, etc. But from McCain’s perspective, what is it, exactly, that the senator finds worthy of whining?

Concerns surrounding civil liberties notwithstanding, the president and his team can take credit for killing Osama bin Laden, decimating al Qaeda, helping bring down the Gadhafi regime in Libya (a guy McCain literally used to bow to), and preventing many terrorist plots.

Maybe McCain would take issue with some of the developments, maybe not. But either way, in what universe is the president “destroying our national security”?

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Follow Steve on Twitter @stevebenen. Steve Benen is a producer at MSNBC's The Rachel Maddow Show. He was the principal contributor to the Washington Monthly's Political Animal blog from August 2008 until January 2012.