TEMPLATE ANALYSIS

When Barack Obama broke the mould to become the first African-American to lead his nation, there were many tears – and many fears.

For the America, that this Democrat inherited from George W Bush was in a hole – economically, thanks to the banking crisis and his predecessor’s fiscal over spending.

There was also, some outside his nation told him, the problem with America’s foreign policy.

Of course, those voices don’t vote.

That left the economy, which was little more than a disaster.

Now four years on, the national debt is $5 trillion dollars bigger, whilst three million more Americans are also unemployed.

His supporters would point to healthcare reform, which gave more Americans access to medicare than before.

Trouble is, America already spent a colossal amount on health care, before this very expensive  intervention by the Democrats.

And this is a country where fifty per cent of the nation still does not pay tax and where the next biggest burden on the county’s finances – alongside healthcare – is welfare spending.

Over the weekend, the Obama camp ran a series of ads attacking Mitt Romney’s economic credentials and the result is that today, the two are tied for the race for the Presidency.

This week is of course the turn of the Democrats to accept Barack Obama’s nomination to run for as their candidate for the White House.

What he will need to spell out during this week is what exactly he plans to do with the American economy over the next four years – because the best that could be said of his last term is that it could have been far worse.