He points out, correctly, that Obama was just restating something that had been said earlier (and better) by Elizabeth Warren.
However, although Frum concedes that many critics of Obama's speech may have distorted his meaning, he identifies another element in Obama's speech--fairly and accurately I think--that goes a long way towards explaining why some people are upset by what he said--not that what he said was untrue mind you, but unsettling nonetheless.
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