There’s no denying the remarkable, improbable nature of Barack Obama’s election as president. But is the media fawning over him in a way that betrays its bias? Is the public response to President Obama an assuaging of its collective white guilt? Or does the new president enter the White House at the right moment, after a disastrous presidency culminating in an economic meltdown, allowing Mr. Obama to reap more than his share of goodwill? What will history make of this event?