A Perilous, Promising Time to Be a Democrat

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Sept. 4 (Bloomberg) -- The Democratic Party enters its 2012convention this week on a surprisingly even keel.

Despite harsh electoral conditions -- high unemployment,low growth and public pessimism about the economy -- PresidentBarack Obama remains in a tight race with Republican MittRomney. It seems possible that Democrats might even retain theirmajority in the Senate, a prospect that appeared unlikely justmonths ago.