Lowry makes some good points--we're entering some uncharted territory--but IMO the guy who wrote him the letter makes a better one.

America isn't going to sit still for our government chasing socialist fantasies. The first attempt at moving toward nationalized health care, with a Democratic president and Congress, still hit the wall.

This is why I'm not going to jump off a bridge if Obama wins. Congress is up for re-election every two years, and they're running scared of the voters as it is. I doubt they're going to do something spectacularly stupid, although the radicals in the House are sure going to try.

Besides, the good news with an Obama victory is that the press would be able to be optimistic again, and in economics, optimism isn't an insignificant factor.