Obama turns 'build that' attack around, says Romney's view 'is dead wrong'

Excerpts from Obama's speech in Oakland, CA President Obama yesterday at a campaign rally in Oakland, California, knocking Mitt Romney for "splicing and dicing" his words to manufacture the "build that" attack:

The other side knows they can't sell their ideas so what they're going to do is try to distort my vision. Earlier today, Governor Romney was at it again ' knowingly twisting my words around to suggest that I don't value small businesses. Now, look, in politics we all tolerate a certain amount of spin. I understand these are the games that get played in political campaigns, although when folks just omit entire sentences of what you said ' (laughter) ' they start kind of splicing and dicing, you may have gone a little over the edge there.

Despite Romney's lies about what President Obama said, the president made it clear that he believes individuals do deserve credit for building the businesses they start:

I believe with all my heart that it is the drive and the ingenuity of Americans who start businesses that lead to their success. I always have and I always will.

And with that, President Obama was done playing defense. Next, he took square aim at Romney's absurd line of attack, making the case that for businesses to prosper, they also need a nation and a government and an economic system that makes it possible to succeed:

But I also believe that if you talk to any business owner, they'll tell you that what also helps them succeed alongside all their hard work, all their great ideas, is the ability to hire workers with the right skills and education. (Applause.) What helps them succeed is the ability to ship and sell their products on new roads and bridges and ports and wireless networks. (Applause.) What helps them succeed is having access to cutting-edge technology, which, like the Internet, often starts with publicly funded research and development. (Applause.) And what helps them succeed is a strong and growing middle class who can buy the products that they're selling. Every business needs customers. (Applause.)

If we're going to have a strong economy that gives everybody who works hard the opportunity to succeed, we need a president and a government committed to those things. And, the president said, Mitt Romney "is dead wrong" to disagree:

We did not build this country from the top down. We built this country together ' individual entrepreneurs taking advantage of opportunities and putting their sweat and tears into it, and all of us making investments in things like public schools and public colleges and universities ' (applause) ' the Hoover Dam and the Golden Gate Bridge. That's how we sent a man to the moon. (Applause.) That's how we saw medical breakthroughs that saved millions of lives.

If Mr. Romney does not understand that, then he doesn't understand what it takes to build an economy where everybody has a shot to succeed ' from the worker who punches a clock to the entrepreneur who wants to take a chance on a new idea.

Your move, Mitt.