It was next to impossible for the GOP to win last year given: 1. A party has only held the WH for more than 8 years one time since ‘52 - Reagan-Bush; 2. W had horrible negatives; 3. the public was war weary; 4. a relentless MSM campaign that would’ve been unleashed against any GOPer; 5. The Sept. financial meltdown; 6. a unique opponent who was telegenic, evasive and due to his ethnicity, guaranteed to bring many people to the polls.
The only thing that McCain might have been able to do to turn the tide after Sept. was to come out against TARP.
McCain almost pulled it off actually. Palins pick was brilliant politics. The Republicans were soaring for several weeks.
The financial meltdown was the decisive factor, it ended all their momentum. It didn’t help that McCain handled his response to it very badly.
Which would have been tactical genius and victorious.
Instead, McCain's handling of TARP was a major embarassement (a gift to Obama) and it was down hill from there.