Media analysts are greeting Sen. Barack Obama's election to the presidency as a momentous development in the history of race relations in America. Commenting on Obama's election, for example, NBC's Andrea Mitchell referred to the "beautiful multicultural ethnic quality of this country," and called Obama's ascension "the story of America." NBC's Tom Brokaw said, "This is a moment to savor...for the fundamental reason that we have another peaceful transfer of power," but "now we have a celebration of the essence of this country." The New York Times, which refers to the new president-elect as "Barack Hussein Obama," credits him on its front page with "sweeping away the last racial barrier in American politics" adding that it "amounted to a national catharsis." The Los Angeles Times also refers to Obama breaking "the ultimate racial barrier" in "a nation that was founded by slave owners and seared by civil war and generations of racial strife." The AP says Obama "overcame racial barriers as old as America itself," and "spontaneous celebrations erupted from Atlanta to New York and Philadelphia as word of Obama's victory spread. A big crowd filled Pennsylvania Avenue in front of the White House." NPR's Juan Williams, on Fox News, said, "It's incomprehensible. Even a year ago I wouldn't have thought it possible that an African-American could be elected president. ... I cannot think of another country in the world where you would have a significant minority that was once so maligned and so oppressed, finally have one of its sons rise to this level." Peggy Noonan said last night on CBS, "I think it's big. I think it's an epic moment." NBC's Ann Curry said, "I think it's fair to say this is a new day in America."
CBS's Katie Couric said the crowds in Chicago celebrating Obama's election are a "reminder of the power of this grassroots movement, that's built into this huge, huge movement of Americans. ... I think it's much more than just support and contributions for this candidacy. I think" Obama "does envision a community in this country that will work together to accomplish a number of goals and a lot of that is about individual responsibility and helping each other. I mean, that's really his entire platform."
The Hill reports that Obama, in his remarks to the thousands gathered in Chicago," also thanked Sen. John McCain "for his 'extraordinary' graciousness and promised to be the president of all Americans, including those whose vote he didn't win." Added Obama, "If there is anyone out there who still doubts that America is a place where all things are possible; who still wonders if the dream of our founders is alive in our time; who still questions the power of our democracy, tonight is your answer."
McClatchy notes Obama also represents a generational shift, as he is the first "from the generation that came of age after the turbulence of the 1960s." USA Today notes Obama's "stunningly rapid rise to power. ... Only four years ago on election night, Obama was a newly minted US senator-elect after serving for eight years in the Illinois legislature."
McCain Concedes, Congratulates Obama The AP reports McCain conceded the race, "saying the Democrat has achieved a 'great thing' for himself and the country with his historic victory." Said McCain, "It's natural tonight to feel some disappointment. Though we fell short, the failure is mine, not yours."
Only hours after his victory, much of the national media is already framing the upcoming Obama presidency as facing perilous challenges. The New York Times reports, "No president since before" Sen. Barack Obama "was born has ascended to the Oval Office confronted by the accumulation of seismic challenges awaiting him. Historians grasping for parallels point to Abraham Lincoln taking office as the nation was collapsing into Civil War, or Franklin D. Roosevelt arriving in Washington in the throes of the Great Depression." While "the task facing Mr. Obama does not rise to those levels...that these are the comparisons most often cited sobers even Democrats rejoicing at their return to power." McClatchy similarly reports that Obama "will face some of the most daunting challenges that any new president has confronted since at least 1981, when America tumbled into a severe recession with its prestige ebbing around the world."
The AP reports Obama "faces three immediate challenges: confronting the worst economic conditions since the Great Depression, determining the next steps in two lingering wars, and leading his Democrats, including liberals expecting that the change he promises will come instantly."
The Los Angeles Times also says that Obama "faces peril if he hews too far left or pursues cautious mediation at the expense of his agenda. ... Too much of the ambitious liberal, and he rekindles partisan squabbles he was supposed to transcend. Too much the cautious mediator who reaches across the aisle to compromise with Republicans, and he risks losing the energy and idealism that attracted millions to his candidacy."
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Sen. Barack Obama won yesterday's presidential race with 52% of the popular vote and 338 electoral votes. Sen. John McCain won 163 electoral votes and 47% of the popular vote. Obama cemented his win by capturing key battleground states carried by President Bush in 2004. Among the key states won by Obama:
The Wall Street Journal notes "the exact percentage of voters who cast ballots won't be determined until final tabulations of all votes are completed. That will be days or weeks away, but nearly every indicator signaled that a historically high percentage of Americans participated." USA Today notes "experts said turnout could match or exceed the high-water mark set in 1960, when Democrat John Kennedy faced Republican Richard Nixon and nearly 64% of eligible citizens voted. They also predicted record turnout among blacks and among voters under 30."
The New York Times says that despite the crush of voters, voting "was relatively smooth, with no reports of catastrophic failures that kept large numbers of people from casting a ballot." The Politico runs a similar report under the headline "Record Turnout, But Few Problems."
The Washington Post, in an article titled, "Palin Plans To Remain On GOP's National Stage," reports Sen. John McCain "bequeathed an invaluable gift to his running mate, Sarah Palin: the national prominence that could allow her to compete for the GOP's nomination in 2012. While the Alaska governor has avoided speculating on a future presidential bid in recent interviews, she has made it clear that she intends to remain an important player within the party." The Washington Times adds Palin has "a few years to rebuild her reputation where it is weak, particularly on her grasp of fiscal and foreign policy." Taking an early look at the 2012 GOP field, the Wall Street Journal says Palin "carries the mantle of economic populism and blue-collar voters, many of whom are committed social conservatives." Mitt Romney "has emerged as a spokesman for economic conservatives focused on small government and low taxes." Minnesota Gov. Tim Pawlenty and Louisiana Gov. Bobby Jindal "remain popular as rising stars."
With the Minnesota, Oregon and Alaska Senate races still too close to call, the AP reports Democrats "fattened their majority control of the Senate on Tuesday, ousting Republican Sens. Elizabeth Dole of North Carolina and John Sununu of New Hampshire and capturing seats held by retiring GOP senators in Virginia, New Mexico and Colorado. ... But Republicans stopped a complete rout, holding the Kentucky seat of Senate Minority Leader Mitch McConnell and a Mississippi seat once held by Trent Lott - two top Democratic targets."
The Alaska Division of Elections reports that with 99.3% of precincts reporting, Alaska Sen. Ted Stevens (R) is leading challenger Mark Begich (D) 106,351 to 102,998. The Anchorage Daily News reports Stevens was leading "despite being found guilty of seven felonies and polls showing him in deep trouble," but the "razor-thin margin means the Senate race might not be decided for two weeks." The Daily News adds, "Still to be counted are roughly 40,000 absentee ballots, with more expected to arrive in the mail, as well as 9,000 uncounted early votes and thousands of questioned ballots."
The Portland Oregonian reports challenger Jeff Merkley (D) "opened up a slim lead" over Sen. Gordon Smith (R) as counting continues in Oregon. The Oregonian adds, "Incomplete returns showed the Portland Democrat leading Smith 48 percent to 47 percent. Constitution Party candidate David Brownlow was getting 5 percent. Neither candidate declared victory late Tuesday, but Merkley backers were optimistic because thousands of votes in Democrat-rich Multnomah County were still being counted." The Oregon Elections Division reports Smith leads Merkley 472,538 to 469,304.
As of 6:46 AM EST, with more than 99% of precincts reporting, the Minnesota's Secretary of State's office shows Sen. Norm Coleman (R) leading Al Franken (D) by about 1,100 votes.
The AP reports, "Democrats unseated 10 Republican incumbents and captured eight open GOP seats, capitalizing on the unusually high 29 Republican departures. Republicans were only able to knock off four Democratic incumbents. With fewer than two dozen races undecided, Democrats had won 247 and were leading for another 9. Republicans had won 164 and were leading in 13. If those trends held, Democrats could have a net gain of 20 seats." The Wall Street Journal reports Democrats "added to their 2006 gains, when they picked up more than two dozen seats and took control of the chamber." The Journal notes that in late October, House Democrats "borrowed $15 million -- on top of $134 million raised from donors -- to help fund a blitz of television ads in more than 60 House contests, twice the number of districts in which House Republicans spent money. House Republicans borrowed $8 million, but were still outmatched financially and were forced to concentrate their efforts on defending Republican incumbents."
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Unsuccessful in their effort to lobby Bush Administration officials to back industry bailout plans, US automakers are turning their attention to the President-elect, Barack Obama. The Wall Street Journal reports US auto makers "are turning their focus to lobbying the next president for emergency aid after unsuccessful efforts to persuade the Bush administration, an official for one of the Detroit auto makers said Tuesday." Meanwhile, House Speaker Nancy Pelosi (D., Calif.) "met with House Democrats Monday to discuss steps to help the industry, including an immediate $25 billion in low-cost loans, in addition to a loan package approved last fall, the Detroit News reported."
The AP reports Obama's "victory in the presidential race will give labor unions and the embattled U.S. auto industry a strong ally in the White House, and likely will put pressure on oil and gas producers and pharmaceutical companies." The Wall Street Journal reports, "Rising Democratic power in Washington is likely to usher in a drive for tighter financial regulation, increased social spending and more labor-friendly policies amid a more challenging climate for business." Still, business leaders "and lobbyists were expressing hope that Democrats wouldn't raise taxes in the middle of an economic decline or erect significant new barriers to trade."
Stocks Up On Rally Hopes, Election The major stock indices rose over 3% yesterday, as investors appeared to take heart at the prospect of a yearend rally. Alternately, some analysts attributed the rally to the conclusion of the presidential race. The AP reports investors brushed "off more weak economic data while they scarfed up stocks and propelled the Dow Jones industrials up 300 points to its highest close in four weeks." The Dow "rose 305.45, or 3.28 percent, to 9,625.28."
NBC Nightly News reported, "On Wall Street here in New York, investors were high spirited today. The markets started to rally with the opening bell." ABC World News reported stocks "staged a strong rally, and some analysts are giving at least part of the credit to relief that the presidential campaign is over." The CBS Evening News reported, "It looks like Wall Street is as relieved as the rest of thus that this election campaign is over."
The Wall Street Journal reports, "Continued easing in bank-to-bank lending costs and expanded efforts by the federal government improved the market's fundamentals a bit on Tuesday, traders and analysts said. But the wind-up of the grueling presidential race dominated participants' attention." The New York Times reports, "Historically, Wall Street has enjoyed a bounce in the fourth quarter after a presidential election as investors breathe a sigh of relief that the long election cycle, with its accompanying uncertainty, has ended. Some analysts said investors seemed to be trying to get a jump on the expected rally by buying on Election Day."
Factory Orders Plummet By 2.5% In August The AP reports factory orders "dropped by more than three times as much as analysts expected in September as the U.S. manufacturing sector continues to suffer from the economic downturn." The Commerce Department "said Tuesday that factory orders fell by 2.5 percent from August, far more than the 0.8 percent drop expected by Wall Street economists" who participated in a survey.
ABC News reports on its website that "unlike the last election, and despite predictions to the contrary, the Osama bin Laden 2008 election tape has yet to appear." And according to "senior US officials," it "is no accident. Since the morning of Sept. 11, 2008, US and allied intelligence agencies have largely shut down what had been al Qaeda's routine access to certain Internet sites that distributed its leaders' video messages."
In similar reporting on its website, NBC News reports, "There have been no threatening tapes from Bin Laden, and no election-related messages from his verbose deputy, Ayman al Zawahiri, or from Adam Gadahn, the bellicose American-born spokesman for al-Qaeda." NBC said the "relative silence comes as a surprise to many in the US intelligence community."
Bin Laden's Son Seeks Asylum In Spain The New York Times reports that "one of Osama bin Laden's sons "who made headlines last year when he married a British woman, is seeking asylum in Spain, the government said Tuesday." Omar Osama bin Laden "arrived at Madrid's Barajas International Airport on Monday on a flight from Cairo bound for Casablanca." It was "not immediately clear on what grounds Mr. bin Laden, a self-declared pacifist who is the son of the founder of Al Qaeda and his first wife, Najwa Ghanem, was basing his claim."
The New York Times reports that "fifteen people were killed and dozens wounded by bombings in Baghdad on Tuesday" as part of what is seen as "an uptick in violence after a relatively quiet few weeks." Also reporting on yesterday's blasts, the AP says the attacks are part of "an increase in bloodshed in the Iraqi capital after a week of relative calm."
The Washington Post reports that "an improvised bomb" also exploded yesterday "near the car of an Iraqi official, missing him but killing two people and injuring several others, police said. It was the latest in a series of apparent assassination attempts against Iraqi authorities."
Progress Seen In US-Iraq Security Pact AFP reports that "a top Shiite lawmaker" in Iraq said on Tuesday that Baghdad "has received 'positive' signals from Washington for the changes" it proposed to a draft security deal. Sami al-Askari of the ruling Shiite United Iraqi Alliance (UIA) said the Iraqi negotiators had "received positive indications from the Americans regarding the changes proposed" to the agreement. "But we are yet to receive their response officially," Askari, "who is close to the Iraqi negotiators," told AFP.
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The late-night talk shows were preempted by election night coverage.
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