From Hope and Change and Rainbows and Unicorns to a "Modest American Dream"

I don't think we'll see fainting at Obama's campaign rallies like we did in 2008:

- This time around, President Barack Obama's message can sound decidedly down-to-earth.

Four years after winning the White House, Obama is dealing with a different economic and political reality as he seeks re-election. He's focused less on a lofty vision for overcoming divisions and remaking Washington, and more on the most basic building blocks of middle-class economic security: a job, a house, a college education for the kids, health care, money for retirement.

What Obama describes as the American Dream can seem a spare, fundamental aspiration, tailored for a campaign that looks to be fought over who is best equipped to safeguard the interests of middle-class Americans.

...

"That's all most people want," he said. "Folks don't have unrealistic ambitions. They do believe that if they work hard they should be able to achieve that small measure of an American Dream."

The goals can seem almost humdrum in comparison with some of the rhetoric from Obama's 2008 White House campaign. But the message sounds made for the times, with the country emerging haltingly from recession, the income gap widening and unemployment stuck above 8 percent.

By the way, Gallup is now stating that the unemployment rate in mid-February is back up to 9%. However, they added an interesting caviat:

“Regardless of what the government reports, Gallup’s unemployment and underemployment measures show a sharp deterioration in job market conditions since mid-January.”

In other words, we think the government is fudging the numbers and will report something lower than 9%.  We'll see.