A lot of hay was made in the large media based on the Barack Obama and Hillary Clinton's race and gender as a bulwark for a historic election. However, there is much larger historic foundation to this election that many voters will be tuned.
1) Never has our country been in so much debt--with the debt ceiling over $10 trillion dollars.
2) People lost their homes at the highest rate on record in the first three months of the year, and late payments soared to a new high, too.
3) Americans’ equity in their homes — usually their single biggest asset — now has dropped to the lowest level on record in figures going back to the end of World War II. Homeowners’ portion of equity fell to 46.2 percent, which means the amount of debt tied up in their homes exceeds the equity they have built up.
4) Never have so many voters felt that the economy was in poorer shape than it is right now.
So, putting this bit of history up against the other, most voters are going to vote for the candidate they feel has the cure to these ills.
This portends well for Barack Obama and the Democrats. With a president whose economic policies can be boiled down to "rob Peter to pay Paul," a change to sound economic policies that keep people working is what voters are likely to back.
Policies that John McCain endorses would put even more money into a defense budget that is already the single highest discretionary budget item, which would be necessitated to continue the war in Iraq or elsewhere. Coupling this with his support of the Bush tax cuts, this is the equivalent of staying the course.
Obama's call for expanding the economy through renewable energy technologies, investing in infrastructure that lowers our total energy usage, investing in education and healthcare to improve productivity are all good, sound ideas that will work.
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