We the People

On September 7, 2008, less than five months before Barack Obama would become president, the U.S. government seized control of mortgage giants Fannie Mae and Freddie Mac in an attempt to ward off a housing meltdown and global market turmoil. By January 2009, several major banks would fail and millions of people would be out of work. As The Onion not-so-satirically noted, Obama was elected to the "nation's worst job."

Last night - as the stock market surged to record highs even though employment remains weak - President Obama accepted his party's nomination and made his case for reelection.

In a nuanced speech, Obama asked voters to select the path forward rather than vent about the current state of the economy. He lauded the American free enterprise system, but said, "we also believe in something called citizenship - a word at the very heart of our founding, at the very essence of our democracy; the idea that this country only works when we accept certain obligations to one another, and to future generations."