Even before the Daily Caller released the video last night of President Obama’s 2007 speech before a majority black audience in Virginia, our corrupt media was already declaring it “old news.” Time‘s Mark Halperin had a full-blown meltdown and BuzzFeed Politics’ Ben Smith declared the story over and dead hours before anyone had read it. What’s especially pathetic about Smith is that one of his site’s signatures is scouring the Internet for old videos and publishing them as … news!

Once the Daily Caller story did hit, and it became clear that Tucker Carlson had found never-before-seen video of Obama in a way voters have never seen him, none of that mattered. The desperate narrative to protect Obama had already been set and, as though the rest of us were insane, the corrupt media doubled down in its efforts to tell those of us who had never seen this video that we had.

Of course, it’s all lies – blatant lies meant to control the explosion of an explosive story, meant to justify why the very same media still obsessed over Romney’s “47 percent” moment will now downplay and ignore as a nothingburger Obama caught on video spewing racialist division and the kind of wild conspiracy theories a sitting U.S. Senator had to know weren’t true.

But New Media is The Media, and this video will get disseminated and voters will see it. And like Romney’s “47 percent” moment, this new Obama video is a legitimate news story worth covering.

Here are ten reasons why…

1. The video released by the Daily Caller last night does include footage the media never broadcast or reported on.

Furthermore, we’re supposed to believe it’s just a coincidence that the footage the media ignored just happens to be the most controversial part, where Barack Obama (who at the time was running to be the Democratic nominee for president) goes off-script and tells a majority black audience that the federal government doesn’t care about Hurricane Katrina victims because they’re black.

Even Politico’s mainstream media water-carrier Dylan Byers had to admit this is the case:

But the full footage of the speech included previously unreported remarks in which Sen. Obama suggested that the federal government helped victims of 9/11 and Hurricane Andrew (in Florida), but did not help the victims of Hurricane Katrina because it didn’t care about them as much.

By any measure, new video of a sitting president sewing seeds of racial division is not only news, but big news.

If this were Allen West giving the exact same speech, you better believe it would be everywhere. And he’s only a congressman.

2. Now we know the media and the Obama campaign “selectively edited” the video in 2007 in order to cover up Obama’s divisive racial rhetoric.

That’s most certainly news.

3. Past is prologue. Always.

Obama’s attacks on the suburbs and the “us vs. them” rhetoric that toxifies the entire speech helps make sense of his divisive presidency and campaign. Moreover, the speech that made Obama a national star was his 2004 address at the Democratic Convention where he was famously unifying and post-racial. That was his “no red states, no blue states” speech.

Now we know the 2004 speech was bull shit.

That’s news.

4. Obama grew up in Hawaii and Chicago, so where in the world does that hilariously fake southern accent come from?

Like a lot of politicians, depending on the audience he’s with, this president can be a huge phony.

I’m a news and political junkie and never once have I heard him speak with this pronounced a southern accent. So…

That’s news to me, and probably to a lot of people.

5. In order to stoke racial division and resentment, Obama lied to his audience.

The then-U.S. Senator tells the audience that the federal government waived the Stafford Act for New York after 9/11 and for Florida after Hurricane Andrew, but not for New Orleans after Hurricane Katrina.

That was a lie:

[T]he federal government did at times waive the Stafford Act during its reconstruction efforts. On May 25, 2007, just weeks before the speech, the Bush administration sent an additional $6.9 billion to Katrina-affected areas with no strings attached.

As a sitting United States Senator, Obama must have been aware of this. And yet he spent 36 minutes at the pulpit telling a mostly black audience that the U.S. government doesn’t like them because they’re black.

Which leads me to…

6. Obama is prone to believing and spreading dishonest and wildly false conspiracy theories.

You know, like Kanye West.

That’s news.

7. At the 19:20 mark we learn that the Christian Obama doesn’t know the Lord’s Prayer.

That’s news.

8. Obama’s “us vs. them” rhetoric and beliefs extends to his governance.

At the 28:50 mark, Obama talks extensively about the importance of minority-owned businesses and supporting your own. He then proposes using the Small Business Administration specifically to aid minorities.

That’s news.

9. At the 20:10 mark, Obama laments the social injustice that created 37 million Americans living in poverty and pledges to fight that injustice as president.

After four years of Obamanomics, we now have 10 million more Americans living in poverty.

That’s news.

10. When Obama gave this speech, the Reverend Wright scandal had yet to break.

This means that the scant, incomplete, and “selectively edited” coverage the speech received at the time wouldn’t have thought much of the full minute Obama spends gushing over his mentor and pastor in his opening remarks.

Knowing what we know now makes this, yes, news.

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The corrupt media knows this newly released footage is news. They just don’t want voters to see Obama for what he is: a phony, divisive, racial demagogue and grievance-monger ready to spread lies, conspiracy theories, and animosity in order to get what he wants.

Oh, I almost forgot…

11. We know it’s news because the corrupt media is telling us there’s nothing to see here, even as they kill themselves to blow it back on Romney and ensure as few people as possible see it.

Follow John Nolte on Twitter @NolteNC