President Obama’s fraud of a reelection campaign was undercut beautifully two Sundays ago by one of the President’s own top surrogates, Newark, N.J., mayor Cory Booker. Booker’s remarks from May 20th remain in the news because with them Booker pulled the curtain to reveal the sham.

Obama had been attacking Mitt Romney’s record as an executive at Bain Capital, the hugely successful Boston private equity firm he helped found. The President and his team insisted that Romney was a job-destroyer, not a job-creator, and therefore should be rejected by the American people in favor of Obama, who created oh so many jobs in his years organizing left-wing activists in Chicago and teaching law, don’t you know.

On NBC’s “Meet the Press,” Booker responded to a question about Obama’s Bain attacks by talking sense.

“I have to just say from a very personal level, I’m not about to sit here and indict private equity. To me, it’s just this — we’re getting to a ridiculous point in America, especially that I know. I live in a state where pension funds, unions and other people are investing in companies like Bain Capital. If you look at the totality of Bain Capital’s record, it ain’t — they’ve done a lot to support businesses, to grow businesses.”

He called the Democratic attacks on Bain “nauseating” and a “distraction.”

Obama responded that his distraction “is not a, quote, distraction. This is part of the debate that we’re going to be having in this election campaign.”

Actually, its the only debate we’re going to have if the Obama campaign has its way. The President is indeed trying to distract from his dismal economic record not simply by discussing Romney’s tenure at Bain, but by indicting private equity in particular and Wall Street in general, as if what ails America is that entrepreneurs have access to capital provided by capitalists. The more people who believe that nonsense, the better the Presidents reelection prospects will be, and the worse off the country will be.