The meaning of ‘that’

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If there is one thing that should've gotten President Obama's speechwriter canned, it's the quote about "you didn't build that," when referring to American business.
It was a sloppy piece of writing which allowed Obama's detractors to legitimately have a field day with what they think he said, and allowed his supporters to say "you're wrong," based on what they think he said.
Here's what he said.
It comes down to: "what is the meaning of that" Did it refer to businesses building roads and bridges? Or did it refer to businesspeople building their own business?
No matter. In a new video, presidential contender Mitt Romney gets around the thorny issue by simply editing the quote.
Let's think about this: A toilet paper company can't say that a particular toilet paper won't leave any pieces on a bear's tush, but a candidate for president can intentionally distort the competition. Insert your own toilet paper/presidential candidate joke here.
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