We sure do. Please describe it for us, Mr President:
Where to begin? How about with an explanation of why Obama felt compelled to cut a softer, address-the-camera with soothing piano music. Here’s a chart of the president’s favorability as his campaign has pilloried Mitt Romney with discredited attacks (via Sean Trende):
He’s hemorrhaging likeability, previously his top asset. A possible fix? Talk directly to Americans about false choices and vague, poll-tested goals, accompanied by a heartwarming score. Unfortunately, the content of the his message is nonsense:
(1) Contra Obama’s first “contrast” statement, Governor Romney’s actual plan is an across-the-board income tax cut for all taxpayers, not just those “at the very top.” He also supports lowering America’s corporate tax rate and eliminating loopholes and subsidies for both corporations and individuals (the wealthiest tend to benefit most from the current complex and byzantine tax code). This general blueprint tracks relatively closely with the recommendations of Obama’s own fiscal commission, which he has duly ignored. It’s worth noting that he’s also ignoring advice from his jobs council, with whom he hasn’t met in six months.
(2) A “top down approach” did not “cause the mess in the first place.” An dangerously inflated housing bubble with tentacles into our financial institutions did. The causes of the 2008 collapse are very complicated, but liberal policies forcing banks to make subprime loans in the name of “fairness” (something championed by Democrats for years and fought for by Barack Obama as a community organizer) is a chief culprit. The bloated GSE’s known as Fannie Mae and Freddie Mac were among the very worst offenders in handing out these reckless loans, which pumped more toxic air into the bubble. When Republicans tried to increase regulation on these entities (read that clause again and follow the link), Democrats denied there was even a problem and cried racism. Irresponsible Wall Street actors bundled these subprime mortgages into financial instruments — hey, they had implicit government backing, right? — which, in turn, infected many of our big banks. When the rapaciously and artificially-inflated housing bubble burst, it nearly brought the whole ship down with it. The Obama-signed ‘Dodd-Frank’ Wall Street Reform law scandalously leaves Fannie and Freddie unscathed, and the administration is already beginning to repeat the same loose lending mistakes all over again. But that whole rigomorale takes more than five seconds to explain. It’s easier for Obama to resort to lazy sophistry and claim that Romney’s “top down approach” is the problem.