PROFESSOR JACOBSON summarizes Obama’s acceptance speech.

POLITICO: In DNC speech, Joe Biden ‘literally’ lambasted on Twitter.

CHANGE: Wayne Root leaves Libertarian Party, backs Romney.

Wayne Allyn Root, 2008 Libertarian Party’s Vice Presidential nominee and political commentator, resigned this morning from the Libertarian National Committee (LNC) to, according to his resignation letter, “elect good people and change the direction of this country outside of a third party.”

In the letter to the LNC, which is available at Independent Political Report, Root explains that his decision much is not unlike those of previous Libertarian Party presidential candidates, including Ron Paul and David Koch; both of whom left the LP to become prominent Republicans.

When I asked if he was now backing Mitt Romney, Root responded, “I am,” adding, “I don’t deny that Romney and Ryan aren’t libertarians, but Romney is a pro-business capitalist and Obama is a Marxist-socialist.”

“The economy has been trashed. This is about my kids’ future, it’s about my businesses,” said Root. “There is no hope for America if Obama is re-elected.”

Ouch.

JOURNALISM: “Members of the media have apparently been using ‘fake’ names to buy official Obama gear and contribute to the Obama campaign inside the Time Warner Cable Arena.”

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Plus, what every chess player needs.

GOT YOUR JOBS REPORT PREVIEW right here.

RAND SIMBERG: The False Narratives of the Obama Campaign: How Romney can fight back against “The Big Lie.” “The Republicans need to go on the offensive and take back control of the narrative with the truth — that the downturn occurred as a result of policies primarily promulgated by the Democrats.”

UPDATE: Reader Lauren Deal writes: “I’ve read through the Simberg commentary twice. I wish I could doodle big stars, arrows, and circles around it, just in case Romney’s folks really are reading Instapundit. In law student fashion, I would highlight the concluding paragraphs. Romney must take back the narrative. Key to that end is reminding us that the Dems had Congress 2007-2010, yet Pres. Obama did not fulfill his promises; furthermore, Romney must distinguish himself – and even distance himself – from Bush. Frankly, I would welcome Romney’s criticism of certain Bush policies.”

TAX FOUNDATION: Romney’s Tax Plan Is Far Closer to Simpson-Bowles Than Obama’s Tax Plan.

HARVARD: The Cheating Of The Chosen. “My working assumption is that these kids will get off with a slap on the wrist. The meritocracy does not eat its own young. With such widespread cheating in this course this not a matter of intellectual incompetents, but very smart kids who simply wanted to push their advantages on the margin. This is the university that was sending half its graduates to investment banks a few years ago, so what’s new?”

Much more here.

WHILE OUR LEADERS PARTY IN CHARLOTTE, Italy is unraveling. Upside: European money-printing offers a short-term boost to stocks.

REMINDER: Obama Already Knows Tomorrow’s Jobs Number.

NOPE, HE’S IN THE SAME BOAT AS THE REST OF US — BETTER OFF UNDER BUSH: John Kerry: ‘Ask Osama bin Laden if he’s better off than he was four years ago.’

ANN ALTHOUSE IS LIVEBLOGGING THE DEMOCRATIC CONVENTION.

UPDATE: “As a tribute to servicemen and women goes on at the convention, email from Obama comes in, saying, ‘Ann — Before I go on stage to accept the nomination, there’s one thing I need to say… Can you pitch in $25 or more right now?'”

#CHINLEADING: Eva Longoria Speech At 2012 Democratic Convention: I Don’t Need A Tax Break.

Well, then, let’s Repeal The Hollywood Tax Cuts! And, while we’re at it, crack down on that shady “Hollywood Accounting.”

SELF-DEFENSE FOR THE SELF-DRIVING CAR: “As more autonomous robots go out into the field, their creators struggle with figuring out how to defend them from thieves and mischief-makers.”

PEOPLE KEEP EMAILING ME ABOUT STACY MCCAIN’S WEBSITE: I can see it fine, but some people can’t. I assume it’s some sort of DNS issue. Stacy is aware of the problem.

#MATH: Average Age of DNC Speakers More Than 10 Years Older Than RNC Speakers.

FROM ENTITLEMENT STATE TO ENTITLED STATISTS: GSA official reprimanded for planning party to celebrate herself. “The General Services Administration’s Julia Hudson was ready to party last month, inviting roughly 1,200 federal employees to celebrate the second anniversary of her appointment as the scandal-scarred agency’s National Capital Region administrator.”

BYRON YORK: Does it matter if Obama’s speech is good or bad? Probably not. “Oh yeah, we know he can talk. We’ve heard it all before. It’s what he’s done that matters.”

RACIST: Barney Frank calls gay Republican group “Uncle Toms.”