We are in the midst of the campaign for the most wide-open presidential election in modern history. While Hillary Clinton is clearly favored for the Democratic nomination, Barack Obama is raising the most money of any presidential candidate in American history, and the entire Democratic primary is looking more and more likely to hinge on what happens in Iowa, where all three contenders (yes, that includes the comparatively underfunded Edwards) are in a dead heat. On the Republican side, chaos. Every GOP candidate seems to have a fatal flaw - from Giuliani's personal life to Romney's flip-flopping to Fred Thompson's rather uninformed and blase approach to this crucial presidential race.
No one knows what will happen, though everybody wants to play pundit. And chances are when this thing is over, turnout will top 60% (as in 2004), the first two elections in a row with >60% turnout since the 1960s. At the end of it all, we may have the first woman in the White House (Clinton), the first African-American (Obama), the first Mormon (Romney), or the first Italian-American (Giuliani). The stakes are high and the dynamics confusing.
There are signs that this is the modern 1932 -- a major partisan and sectional realignment signaling a new political order -- or more ominously, the modern 1928. Signs of the latter already appear. Odds at the nomination (and indeed, the presidency) look better and better for an established New York Democrat (Al Smith/Hillary Clinton) who is breaking new ground (Catholic/woman) but comes from a bygone political era (Progressive New York in the late '10s/the Clinton '90s). Unlike Smith, Clinton polls better than her Republican opponents, but the opposition to her is equally vitriolic and impassioned, with a strong contingent of the party which is skeptical of her chances and of her political style.
Like 1928, a rather destructive presidency is ending, but few are offering grand solutions. Touchup politics is still the norm. This incredibly challenging environment is fodder for an unfortunate Hooverlike figure to win the White House, not a right-place, right-time Roosevelt.
Thoughts?