Jay Cost at the Weekly Standard looks through the "blue smoke and mirrors" to see President Obama's real problems.
President Obama lost public confidence in the first two years of his tenure, and Americans responded by filling Congress with dozens of new Republicans, ending the (short) era of liberal governance. Obama does not have the disposition to meet Republicans halfway, and, at any rate, his political advisors seem to have convinced him that demagoguing the GOP is the better approach. So, the president is emphasizing political theater, endeavoring to create the impression that the economy is in better shape than it is (or at least that he is not to blame), that he has a realistic plan to handle the deficit, and that he is in strong shape for reelection.
It will do no good. The president can visit as many green companies as he likes. His team can put out as many strategy videos as it likes. It can organize its ground game in Virginia all day and all night. None of this is going to change the fundamentals of this upcoming election.
Pick a Republican out of a hat and they will beat Obama in 2012. A billion dollars of Democratic money will go down the drain.