No, the most important event was not Obama speech to Congress. The most important events were:
- dare deviling act undertaken by Bernanke in his second coming after saving American and Global Economy in 2008; and
- release of Romney taxes to put forward firmly 'fair share' argument at the forefront.
That is what Obama speech attempted to ride on - fair share argument and he did not make much persuasive argument; Romeny did that job.
No matter what some nuanced commentary says, 'fair share argument' is fully entrenched and Obama is determined to exploit it for his re-election. The good part is America needs that argument. But that is politics. One way or the other it will get resolved by November 6, 2012. What matters in between is Bernanke Revolution II. Great job Ben, keep fighting for us. (Barack, you may get our vote but not yet our minds and hearts.)