In The Moment

By INVESTOR'S BUSINESS DAILY | Posted Tuesday, November 04, 2008 4:20 PM PT Election '08: As we went to press Tuesday, voting precincts were still open. But from all indications, including our own polling, it appeared we were witnessing an event in which all Americans can take justifiable pride. Read More: Election 2008  More than any other development, the election of an African-American as president will show that most of us have indeed "moved on," overcoming prejudice and fulfilling the promise that anyone can achieve anything in this great country if they set their mind to it. Seeing so many once-disenfranchised Americans turn out by the millions, bursting with pride and anticipation, gladdens the heart and offers hope for even better race relations in the future. The charismatic and well-spoken leader they have rallied behind has run an exemplary campaign and displayed true grace under pressure. He has proved to all African-Americans that this country offers opportunity to all. But when all the cheering and self-congratulation die down, all Americans should understand that the election of Barack Obama may be momentous in another way. We may have elected not only one of the least experienced candidates in our history, but one who may be guided by some principles different from what we're used to and on which the nation was founded. In fact, we may be installing the first president who openly favors "change" that, as unaccustomed as we are to the word, can only be described as socialistic. Examples are many, and we've covered them ad infinitum on these pages. If there were any lingering doubts that Obama leans far left, they should have been dispelled by recent revelations of how he has spoken unflinchingly about "bankrupting" an entire industry and using the Supreme Court to redistribute wealth. Such economic and domestic policies would come in addition to positions on energy, trade, defense and foreign relations that, in our opinion, could weaken America's position in an ever-more-dangerous and competitive world. To the discomfort of some, we've tried to put these positions in the proper context throughout the campaign. In fact, we've felt an obligation to do so because the vast majority of mainstream media have been derelict in examining Obama's views and associations. After the efforts that news outlets have made on Obama's behalf, and on behalf of Democrats in general, we have serious doubts they can ever regain their credibility. The bias is now indelible. We sincerely hope that a President Obama, despite past leanings and a Congress that could be just as far left, will govern as a moderate and succeed in bringing the country together as promised. In America, the best person wins. That's what our elections are all about. Our system is one of freedom and opportunity that outshines all others. We congratulate Barack Obama on his relentless effort and what appears to be a history-making win that will set a significant and valuable example for all Americans.