If this is the best all the king’s horses and all the king’s men can do to put Humpty Dumpty’s silver-tongued oratory together again, they might as well cut to the chase and argue that accurately quoting President Obama is racist. The obvious interpretation sticks because it fits with the reality of the last three and a half years — that America’s chief executive is a man entirely ignorant of business who presides over an administration profoundly hostile to it.