The biggest sigh of relief

Thursday 8th November

And in the end it was a comfortable victory, although the electoral college system does make a very small margin of votes a sizeable chunk of the 540 college votes.  But it was nail-bitingly nervous at times.  And what a remarkable and confident and statesmanlike victory speech Obama gave, so unlike his hesitant and unsure tv debates, where he seemed almost afraid to actually say anything passionate at all.  Of course, now the hard work really starts.  The Republicans still control Congress and there is likely to be an almighty battle looming over the budget deficit, which by a previous agreement has to be reduced in 2013.  Just how, nobody is agreed upon.  And yes, Obama has disappointed, but maybe that was largely because of how much we expected of him, and the economic crisis took far longer to sort out then anyone thought, and even now is still at best a faltering recovery.

But can anyone doubt how much worse it might have been had Romney won.  Increased spending on the military, lower taxes for the rich and somehow, as if by magic – the deficit reduced and jobs created.  The so-called economic miracle of the eighties under Thatcher and Reagan is now being exposed as a con-trick.  The rules were relaxed, credit was made available and boom boom boom away we went.

So now, and for the next four years we can begin to relax a bit…..well, at least until the primaries get under way in 2015.