Here's a link to the Register's editorial on President Bush's speech last Tuesday in which he did his best to link the war in Iraq to al-Qaida in Iraq as the biggest, baddest terrorist threat around. We noted the fundamental problem with the argument. AQI did not exist before the U.S. invasion of Iraq, and it's still unclear exactly what its relation to "al-Qaida central" (insofar as there is such a thing), is. If it's the biggest threat around it was created by the U.S. invasion.
I don't know whther GWB has even the remotest grip on reality. His speechwrioters did their best with this speech, but he's making such a weak case I don't think much of anybody is listening anymore.