I regret to say that Obama's speech today on middle-class jobs is bullshit.
Bullshit for what he says, and—more importantly—bullshit for what he doesn't say.
Obama's speech today is bullshit in the sense that it's all true, but none of it is important. He says Congress should pass a bunch of job-creation measures that Congress plainly has no chance of passing.
The truly important stuff is what he didn't say. There is something Obama could do on his own, without Congress, to create a lot of jobs—but there's no mention of it in his speech.
Analysis below the steaming orange pile.