In one sense it did happen. It was an election that introduced social media, primarily through Twitter and Facebook, and the internet in general as new channels for political debate. That change is historic.
What is much less historic are the catastrophes that have occurred:
- The oil spill in the Mexican gulf
- The lack of better focus in Afghanistan
- The financial crisis
- Financial regulation still missing
The financial crisis wasn't taken seriously enough, and consequently didn't result in as much job creation as hoped - and certainly not in the groups desired.
Financial regulation is still missing. Many of the speculative elements of big business are STILL a challenge for stock exchanges on a global scale.
And, finally, the oil spill in the Gulf of Mexico was a disaster where everyone was more busy washing their hands instead of getting to work - and involving all sources available. I wrote about this on June 20th in the article "The Oil Spills - There Is a Better Solution"
All of the above points are just part of the picture. There HAVE been improvements, but certainly not at the levels promised. I think it's fair to conclude that it's much like turning a supertanker. There are a lot of valves in the engine that have to work together.
Will Obama be ready for reelection, or will Sarah Palin become the first female President? That is a very good question.