President Obama gave a major speech on the economy this week. Glad he finally got around to it. Today his campaigner-in-chief, David Axelrod, defended the speech. As reported by Patrick Brennan, Axelrod said the president provided “a very thorough explication of his views on what the great challenges facing this country [and] his view on the economic challenges facing the country.”

That’s too bad, because Glenn Kessler, who writes the Washington Post column, “The Fact Checker,” observes that Obama’s explication is “silly” and “wrong” when compared to those pesky things we call facts. Ouch.

Read more here.

BTW, three Pinocchios represents three-out-of four on the scale of mendacity, indicating “Significant factual error and/or obvious contradictions.”

Update: Here’s Daniel Henninger’s take in the Wall Street Journal: Obama as The Godfather.

There is that defining moment when Michael Corleone says to Fredo, his brother, “You’re nothing to me now.” When even as party leader, a president of the United States gives a major speech in which people get singled out repeatedly as basically enemies of “the middle class,” one has to wonder if they are nothing to him.

You then have to wonder about the tenor of another Obama term in office. If in fact there are categories of Americans he simply doesn’t like, a second Obama term, like the last half of “Godfather II,” could be a clinical exercise in hammering the people he singled out in this speech. Metaphorically speaking.

Metaphorical would be the best-case scenario.