Obama won the debate but is losing the argument

FiOCTOBER 16: Republican presidential candidate Mitt Romney (L) and U.S. President Barack Obama talk to each other during a town hall style debate at Hofstra University October 16, 2012 in Hempstead, New York. During the second of three presidential debates, the candidates fielded questions from audience members on a wide variety of issues. (Photo by Bruce Bennett/Getty Images) (2012 Getty Images)

FILE: Oct. 16, 2012.: President Obama and Republican presidential nominee Mitt Romney in the second presidential debate at Hofstra University in Hempstead, N.Y. (AP)

Americans on Tuesday night watched what was the most ferocious presidential debate ever. Barack Obama and Mitt Romney circled and interrupted each other, jabbed fingers, got into each other's space, and exchanged verbal body blows for 90 minutes at Hofstra University in Hempstead, N.Y.

Yet it did not change the campaign's dynamic. President Obama won the postdebate polls, but he's losing the argument.

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In CNN's insta-poll, 46% said Mr. Obama did the "best job" while 39% chose Mr. Romney. And in CBS's survey of uncommitted voters, 37% said Mr. Obama won the night while 30% gave it to Mr. Romney. But to reverse the GOP challenger's momentum, the president required nearly as big a victory Tuesday as Mr. Romney had last week. He didn't get it.

To continue reading Mr. Rove's column in the Wall Street Journal, click here.