I knew that Obama won before I went to sleep, but then I dreamed that McCain won somehow anyway in the end and I was so mad and I kept yelling "I can't believe that red won!"
With regards to racism, I think it's completely depressing that Obama would have any disadvantage to getting elected because his skin is black. The fact that Americans think it's such a big issue that he was elected, DESPITE his skin colour (oh my goodness), means that clearly it's still a big issue. And that's not even getting into the rest of it. My roommate said this morning: "The US has its first black president" and I said "It's like 24 come true!"
With regards to the policy... I'm kind of with HAU in that, despite my love of capitalism, I think it was good to vote democratic for the change, especially because Obama comes off as an intelligent and motivated and good person. Plus the republicans have some pretty crazy ideas. I guess both sides have some pretty crazy ideas, in my opinion.
(My views may be a bit uninformed as I hadn't followed the election TOO closely from this side of the border).