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There are a few ways of looking at this.
Not only was this a celebration of the first black president, but the first president after George W. Bush. The man fucked the country hard, well not even their country but many other countries. The simple fact that Barack won on the votes of all races, shows this was not just about race, as it was about ushering in a person that people had more faith in.
This victory was amplified by the poor management of the country for the past eight years. No, there was no such fan fare for Bush, or Clinton's inauguration, just because the country was not in the sorry state it is in today.
If you are saying that 'who cares he is black, just another guy', what planet do you come from? Sure, we should be able to look past the colour of one's skin, and judge them on their merits as an individual, and their skills, but it does not happen as it should. Racial violence is still quite common in the United States, hell even blacks in Toronto have been racially profiled. For people who want to just live their lives, and be treated as regular people, and not by how much pigmentation they have in their skin, this is a concrete reminder that things are moving in the right direction.
Obama not only represents blacks, but a new breed of American citizen. One with a multinational, and multicultural background. He is from a single mother, and worked his way up. Up until now, it seemed as only power whites, with political backgrounds, and incredible wealth were able to finance a run for the presidency. No longer will people think you have to be wealthy. He raised most of his money online from a wide variety of sources, with regular people donating to his efforts. People can actually relate to the guy, that is the big deal.
Relatability is a huge factor here.
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