That inelegant line  “not in my prepared remarks,” Obama explained  landed because it was true and because he said it with a grin. Americans like their warriors happy, not petulant (cf, “You’re likable enough, Hillary”).

Image Frank Rich Credit... Fred R. Conrad/The New York Times

For a guy facing a tidal wave, the president was so ebullient, you had to wonder if he knew something we didn’t. Maybe he simply read the unabridged poll numbers rather than the CliffsNotes summaries of cable news. Those numbers are hardly as monochromatic as advertised. Obama’s approval rating, for months a consistent (not imploding) 45-ish percent, still makes him arguably America’s most popular national politician. The polls also continue to show that, while both political parties are despised, Democrats are slightly less despised than Republicans. In The Wall Street Journal/NBC News poll, for instance, 36 percent of those surveyed rate the Democrats positively, compared with the G.O.P.’s 30 percent. It’s only when the November horse-race matchup is limited to “likely voters” that the tidal wave rolls in, giving the Republicans a roughly 10-point lead.

That spread is the Democrats’ dread “enthusiasm gap.” And since that gap can’t be bridged in two months by new government programs or divine intervention for the nearly one in six Americans who are un- or underemployed, what could give the Democrats even a slender reed of hope? If there’s any plausible answer, it can be drawn from the single poll finding that is most devastating for Obama, the question (as worded by The Washington Post/ABC News) of whether “he understands the problems of people like you.” There his numbers really have imploded. When he arrived in office, 72 percent answered Yes and 24 percent No. As of last week, Yes had fallen to 50 and No had doubled to 48.

That a former community organizer and insurgent presidential candidate from a rocky middle-class background could be branded an out-of-touch elitist is not entirely the fault of his critics. Obama has perhaps never recovered from handing his administration’s plum economic jobs to Robert Rubin protégés with dirty hands from the bubble  Lawrence Summers, a deregulation advocate from the Clinton administration, and Timothy Geithner, an indulgent regulator at the New York Fed. Their presence has helped Obama’s more unscrupulous adversaries get away with the lie that his White House, not President Bush’s, created TARP. Indeed, such is the Obama administration’s identification with the tarnished Wall Street culture that even Michael Bloomberg mistakenly identified Geithner, a longtime public servant who never worked at an investment bank, as a Goldman Sachs alumnus at a public event in New York last month.

The White House’s not-on-C-Span deal-making with the health care industry behemoths only cemented the administration’s corporatist image, as did Obama’s meandering path to what still looks like a loophole-ridden compromise on financial regulatory reform. This is why even many Democrats have become lukewarm in their conviction that their president “understands the problems of people like you.”