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First, a note of trivia: the president used to be sworn in on March 4, per the 12th Amendment, 1804. The Founders weren't worried about recounts, they were worried about transportation. Vote results had to brought to state capitals, then to DC.
But I'm not sure why why you think there would be more recounts with a popular election. The EC is already proportional, so a handful of votes can lead to huge changes already, as we saw in Florida in 2000. With a popular vote, it seems to me, a region would have to find large numbers of votes to affect the outcome. Gore in 2000 won by 550,000 votes. That would have taken a lot of recounts to change. With the EC, the Republicans only had to get rid of 50,000 or so in a couple of districts to steal Florida.
Given that all elections are counted locally, and rarely become a state matter, I doubt you'd see major recounts across the nation. For one thing, districts that go Republican in the presidential race tend to be controlled by Republicans, those that go Democrat by Democrats. So these districts aren't going to want recounts. A candidate would rarely have the resources to challenge district by district.
And if they did have the resources in a close election, nothing would stop them from recounts in the current system anyway. The EC is proportional, so each district contributes to the EC total proportionally, so there's no reason now a candidate couldn't challenge in each district.
I'm not a hack for getting rid of the current system, really. I generally think it works, and the rare problems that pop up each century wouldn't be made any better without it. Any system is going to cause it's own problems.
But I do believe that the Constitution should be amended to require that the president be chosen by election. As it stands now, a state could vote to draw straws, and it would be legal. We amended it so that senators were elected, and we should do that for the presidency. Also, if there was a Constitutional requirement, a lot of the Republican arguments in 2000 as to why we didn't have to count all the votes in Florida would have been moot.
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