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NOW Today: 40 days out, are the campaigns getting desperate?

“A lot of people can talk.

“A lot of people can talk. Talk is cheap.”

That was Governor Mitt Romney campaigning in Ohio yesterday, criticizing President Obama's record on numerous fronts, including foreign competitiveness.  The President, just 130 miles away, was taking Governor Romney to task, saying that talk was "better than what he’s actually done" on the jobs front - a direct reference to Team Obama's consistent attacks on Governor Romney over outsourcing.

The heated rhetoric on the campaign trial comes as mounting polling data shows the President is pulling ahead of Governor Romney. It also comes in key swing states, like Ohio, which are getting a hyper-focus from both candidates before next week’s critical first Presidential debate.

Today on NOW we'll look more closely at the campaign rhetoric, and with 40 days to go, ask: Are the campaigns getting desperate?

PANEL

Richard Wolffe, msnbc Political Analyst (@richardwolffedc) 

Howard Wolfson, Deputy NYC Mayor/Fmr. Hillary Clinton Adviser (@howiewolf)

Lois Romano, Senior Political Reporter, POLITICO (@loisromano)

Josh Tyrangiel, Editor, Bloomberg Businessweek (@tyrangiel)

GUEST

David Leonhardt, Washington Bureau Chief, The New York Times

Sen. Jeanne Shaheen (D-NH) (@senatorshaheen)