Actually, Mike, I think Sen. McCain will win the Presidency in spite of the fact that, just as you say, we’re in huge debt to China and gas prices are $4/gallon (and even higher for me personally — I live in Los Angeles!).
Here’s why I think so:
Maybe I haven’t been looking in the right places, but I don’t see or read of many people who are really passionate about McCain’s candidacy one way or the other. However, it seems to me that few people really *hate* him the way they hate Pres. Bush. There are a lot of conservatives and Republicans (note that there is a difference!) who have said that they will not vote for McCain because he’s not conservative enough, or they don’t trust him because of campaign finance reform or the Gang of 14, or because they disagree with him specifically about issues such as the border fence, illegal alien amnesty, global warming cap-and-trade, etc. A few claim to despise McCain, but not many. And from the other side, the references I’ve seen to “McSame/McLame”, Alzheimer’s/senility jokes, etc., don’t have nearly the white-hot hatred behind them that most left-wing commentators display when talking about the “idiotic drooling evil mastermind corrupt rich-boy draft-dodging alcoholic Repiglican Rethuglican Repuke neocon Chimpy Hitlerburton Shrubya Li’l Bush Jr., pResident and Commander-in-Thief.” (Did I miss any cliches?)
Obama’s and Hillary’s supporters seem to hate each other pretty much to death, judging by comment fights in the New York Times and elsewhere. This will all come to a flashpoint at the convention. After that, though, I think everyone will be all hated out, causing a massive hatred shortage and a corresponding slump in energy.
In other words, I think McCain will win because he’s the candidate everyone hates the least. Heckuva way to win the Presidency, I will admit! But he’s not the first compromise candidate to win the White House, and he won’t be the last. Abraham Lincoln was a compromise candidate, if I recall correctly, and he did all right. 
I think that even as a liberal, you’ll probably be fairly satisfied with McCain as President. He may well wind up as the first President in history better liked by his opposition than by his own party!
