2012 Decoded

The Obama re-election campaign is marking Iowa caucus day by releasing a video of candidate Obama on caucus night four years ago, when he pulled off his upset victory over Hillary Clinton. With the spotlight at its brightest, all eyes and TV cameras upon him, a very young-looking Barack Obama gave a substantive victory speech outlining what he wanted to do as president.

The 2-minute video, called "2008 Iowa Caucus Victory Speech: Promises Kept," consists of speech excerpts and captions explaining what Obama has accomplished in each area. Leaving aside for a moment the question of how this will play with a depressed nation, it's hard to argue with most of the specifics. Obama promised to end the Iraq war and he did; he promised to cut middle-class taxes and he did; he promised to reform the health care system and he did.