Obama contrasts two economic visions -- and fact- vs. fiction-based campaigning

The euphoria will last only until the next batch of crummy economic data -- or until the Supreme Court hands down its decision on the Affordable Care Act.  But having indulged in a mid-afternoon watch of Obama's  major economics speech in Cleveland, I can't help but feel for a moment that he just can't lose. 

The speech's basic structure was admirably simple: a contrast of two diametrically opposed economic prescriptions (I won't say "visions," because I don't believe that Romney believes in the policies he's selling).  That contrast included what I craved: the same kind of detailed dissection of Romney's economic plan that Obama leveled at the Ryan budget in April -- which feels like an age ago. Of course the contrast was wrapped in layers of context  : the Bush-era policies (which Romney wants to reprise) that led to crisis; the unfinished recovery he's led; and, as Obama has sketched out repeatedly since 2007, a contrast between the American tradition as he sees it -- of prudent public investment and shared prosperity -- and the GOP policies that have taken us off that path -- radical tax cuts and deregulation. 

Also key, though, was a second, unstated contrast: between truth-telling and lying.  Obama never called Romney a liar, and he never accused him of not believing in the extremist GOP economic prescriptions that in his narrative led the US to disaster [update: I kind of changed my mind on this as I cut and pasted below...].  But he emphasized the factual basis of his own analysis of the GOP budget -- and set that analysis against the phony tissue of Obama-myths with which Romney & co. are saturating the airwaves.  Watch the way he contrasts his own attack with the attack on him. My emphases, natch.

Obama's back

Today in Cleveland, Obama started to draw on a fund of latent credibility he may yet prove to have built up with all that infuriating bipartisan outreach.

Recall that as the healthcare endgame approached, Americans, for all their ambivalence about the healthcare bill, told pollsters that Obama was showing more good faith than Republicans, was more willing to work with the other side than the Republicans.

Now, as Jonathan Cohn put it today, "it's safe to say that President Obama has given up on bipartisanship, at least for the foreseeable future."  He is not shrill.  But he is ready -- overripe -- to call out the Party of No. To highlight its bad faith, even as he distinguishes between genuine philosophical differences and opportunistic obstruction. In addition to defending his own approach to government -- and framing a clear contrast between a platform of tax cuts for the rich and deregulation and Democrats' commitment to long-term investment and regulatory repair -- he is hammering Republicans for opposing their own ideas:

In fact, if the Republican leadership in Congress really wants to help small businesses, they’ll stop using legislative maneuvers to block an up or down vote on a small business jobs bill that’s before the Senate right now.  Right now.  (Applause.) This is a bill that would do two things.  It would cut taxes for small businesses and make loans more available for small businesses.  (Applause.)  It is fully paid for, won't add to the deficit.  And it was written by Democrats and Republicans.  And yet, the other party continues to block this jobs bill -– a delay that small business owners have said is actually leading them to put off hiring.

Look, I recognize that most of the Republicans in Congress have said no to just about every policy I’ve proposed since taking office.  I realize in some cases that there are genuine philosophical differences.  But on issues like this one -- a tax cut for small businesses supported by the Chamber of Commerce -- the only reason they’re holding this up is politics, pure and simple.  (Applause.)  They’re making the same calculation they made just before my inauguration:  If I fail, they win.  Well, they might think that this will get them to where they want to go in November, but it won’t get our country going where it needs to go in the long run.  (Applause.)  It won’t get us there.  (Applause.)  It won’t get us there.  (Applause.)  It won't get us there.  (Applause.)