Here are a few paragraphs from the speech candidate Obama gave on October 13 in Toledo, Ohio. It's the one that was billed as his definitive campaign speech on economics. I'm quoting from the prepared text.

I have mixed feeling about this. On the one hand, how gratifying it is to finally hear a presidential candidate — a real candidate, one who has a real chance of winning — actually suggest that maybe Americans should stop spending more than we have. Ever since Bruce Babbitt in 1988 (probably longer, but that's the earliest I remember), to even hint at this possibility has been the electoral kiss of death. Even this year, with so many chickens home roosting, I was amazed to see Obama actually say this out loud and in public. Obama is not one to speak carelessly. In a big speech like this, he clearly knew exactly what he was doing.

But on the other hand ... geez, could he have been any more mealy-mouthed about it? "Part of the reason"? "even some" on Main Street? Lenders "tricked people"? "Not a choice but a necessity"?

I suppose I should be grateful for whatever I can get, but that's really really lame.

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