Paraphrase of Obama's key argument

The text is very rich, with multiple layers of meaning it almost verges on poetry. Looking at the area in blue the key message seems to be the following:

Obama claims that ordinary Americans can change their country.
The millions of people who voted for Obama also believe this.
The campaign is accused of giving these people "false hope".
But, America was founded on high ideals and hope .

This type of argumentation conforms to the Toulmin Method which is composed of four basic components: Claim, Evidence as well as Support of Evidence, Counter Claim and Rebuttal.
Let's have a closer look.

CLAIM: "...our campaign...is ... about what the citizens of the United States of America can do to change it."

- Americans can change their country through the Obama campaign

EVIDENCE: ... organizers, and the volunteers, and the staff ...rallied so many others to join the cause.

-Campaign staff are effective and have mustered a lot of support

SUPPORT FOR EVIDENCE: ."..millions of voices calling for change."

- Millions of people voted for change through Obama and this is difficult to resist

COUNTER CLAIM: "..We have been told we cannot do this ..... We've been asked to pause for a reality check. We've been warned against offering the people of this nation false hope."

-Critics argue that the millions of voters are being given false hope, and they will be disappointed

REBUTTAL : "But in the unlikely story that is America, there has never been anything false about hope."

-However, America was founded on high ideals and hope .