The greatest political showdown on earth

Written by Rupert Cornwell

It's make-or-break time in the world's most important, and expensive, election. On the eve of tomorrow's televised debate between the presidential candidates (the first of three), Rupert Cornwell looks forward to a momentous month.

The largest, the longest, the costliest and the cruellest exercise in democracy on the planet is approaching its climax. Thirty-six days from today (barring a repeat of the Florida deadheat a dozen years ago) a new American president will have been elected – in the event of a victory by Mitt Romney, the 45th in a line stretching back to 1789 and George Washington.

The winner will be the last man standing after a contest that formally began with Iowa's caucuses last January, and continued through a four-month primary season and the late summer party nominating conventions. Now come four presidential and vice-presidential debates, capped by a final draining sprint to the finishing line on 6 November. In reality, though, the process has been under way almost from the instant Barack Obama was sworn into office on the freezing Washington morning of 20 January 2009, promising a new beginning for his country in the midst of its worst economic and financial crisis since the Great Depression.

The final match-up...