The failures of financial markets and the rehabilitation of John Maynard Keynes have handed Barack Obama a strong lead in the race for the White House. America is living through one of those rare moments when government is seen as the answer not the obstacle. The voters want shelter from the storms.

The national polls have been giving Mr Obama an average lead of about eight points. Democratic strategists say even this advantage understates the strength of his position in pivotal battleground states. Some Republicans privately concede Mr Obama's position may be impregnable. In a poll of Republican political consultants, the National Journal found that four out of five expected the Democratic candidate to win.

Not so long ago the election seemed likely to turn on Iraq. Mr Obama saw his pledge to end the war as a certain vote-winner. John McCain spotted an opening to frame the election around the experience needed in a commander-in-chief.