Jeb Bush gave his first big political speech since he announced his likely presidential candidacy on Wednesday, and the reviews have been predictable. Bush was light on specifics. Bush didn’t toss a bunch of red meat to the right. Bush is trying to cut a path through the GOP primary without veering too far from general electability, and that makes him hyper-cautious and a little bit boring.

"Mr. Bush offered few answers to address the problems he described," wrote New York Times political writer Jonathan Martin.

Bush gave "a meh-worthy speech, reading off a TelePrompTer with the enthusiasm of an asparagus-eating toddler," according to National Journal's Ron Fournier.

These observations aren’t mistaken. But they are somewhat atextual.

Bush sprinkled his speech with several subtle—in some instances contradictory—intimations, which unsurprisingly outline a steadfastly conservative agenda. But contrary to the impression he left on his audience, these hints don’t suggest that Bush will swear off the rightwing panders that made it so difficult for Republicans to appeal to a national electorate in 2012. Instead, Bush demonstrated an ability to serve them up obliquely enough to escape notice.