Obama gave a big time ‘party nomination’ acceptance speech last night at the Democratic National Convention.

He talked tough on McCain and also pointed out the ways he’s going to save us all some money.

In spite of all that, it looks like McCain’s ballsy and brilliant VP choice selection took over all the front page press and brought this race to a new level. And we’ll show you why.

But first, Obama’s 8 major money-saving points:

1.) Promises to cut taxes for working families and the middle class.

2.) Will say goodbye to the capital gains tax for small businesses and entrepreneurs.

3.) Fixing up the bankruptcy law that got all F-ed up in ’05, making it easier to declare personal bankruptcy (if you need to?).

4.) Say hello to lower health insurance premiums.

5.) The uninsured will now be able to get Congressman-quality health insurance.

6.) Only 10 more years left of foreign oil dependence.

7.) Renewable energy solutions and biofuels will be getting $150 billion.

8.) Everyone will get more sick and vacation days.

Obama says he will pay for all of this by not allowing corporations to use those tricky tax loopholes and revamping the budget to get rid of inefficient programs.

And now, have you ever heard of Sarah Palin before? You’re about to hear a lot more of her because Republican candidate John McCain has just selected the Alaskan governor as his Vice Presidential running mate.

The selection is brilliant for a few reasons. For one, it’s shocking and well-timed enough that it monopolized all of today’s news and election coverage. Instead of gushing over how much everyone loved Obama’s speech last night, we’ll all be talking about who this Sarah Palin character is. For all of our glorious Labor Day weekends too perhaps?

Choosing Palin also does a few things to the Democrats attack plan leading up to the election. Palin matches up well with Obama: being in her 40s, relatively attractive, and well respected on a number of ethics points.

She’s known as ‘America’s Hottest Governor’ (how is Schwarzenegger not still the #1 stud?), and is well known for being a hardass on ethics and corruption. If the Dems try and say Palin is inexperienced, it just reflects poorly on Obama for the same reasons, but at the same time, McCain picking Palin over the more experienced Romney shows the Repubs have their own hotshot young guns who can ‘celeb’ it up. An even match on both ends, so to speak.

Plus you can’t deny how many disenfranchised Hillary voters will be all over Palin as their new godsend. But who knows how many Hillary supporters will really go against her insistence on voting for Obama?

Want some more info on Palin? Check out an interesting interview she had with CNBC’s own hardass businessman Larry Kudlow:

What do you think of Obama’s plan? Is it plausible? What about McCain’s Veepstakes winner, is Alaskan Governor Sarah Palin a good choice? The comments section loves you like a fat kid loves cake!

NYT: Obama Takes The Fight To McCain, August 29, 2008

Clusterstock: Why McCain’s ‘Americas’s Hottest Governor’ Palin VP Pick Is Brilliant, August 29, 2008