Just as the political air is filled with talk of the inevitability of Barack Obama's re-election -- we are told that the kids at his Chicago headquarters are brimming with confidence -- in come some poll numbers showing him behind.

This is the season of generational twaddle. At graduation ceremonies across the country, politicians, authors, actors, and businessmen take to the stage to tell young people they are fantastic simply because they are young. This year, the ritual is more pathetic than usual because there’s a presidential election in the offing.

Last week I wrote about the standings in the presidential race and said it looked like a long, hard slog through about a dozen clearly identified target states, much like the contests in 2000 and 2004. Call it the 2000/2004 long, hard slog scenario.

"The choice in this election is between an economy that produces a growing middle class and that gives people a chance to get ahead and their kids a chance to get ahead, and an economy that continues down the road we are on, where a fewer and fewer number of people do very well and everybody else is running faster and faster just to keep pace."

Attempts at austerity and deleveraging in Europe have converted an economic problem into a political dilemma, with leftist governments rising against Germany's austerity-laced rescue packages. Germany now faces a tough economic decision that will involve choosing between a breakup of the current euro system and a movement toward a common fiscal policy in Europe.

Where Obama went wrong on education – and what Romney needs to say

For most of 2012, President Obama has been running in the Democratic primary. I know that seems odd, given that he’s essentially running unopposed. But that's not what I'm talking about.

Rick Santorum won big victories in three small contests in the Republican presidential race last Tuesday. In doing so he reshaped the oft-reshaped nomination battle once again. But he has not installed himself as the favorite, and neither he nor Mitt Romney has established himself as the candidate who can do best in the general election.