Democrats are giddy about North Carolina. That’s understandable. It’s been a long time since we’ve seen a year that looks this good.

But this election is not over.

My best read on the polls is that Obama, Perdue and Hagan all are close to – but not yet at – where they need to be on a key indicator: the percentage of white voters they are getting.

Two things could happen for them:

• Black turnout could be, say, 20 or 21 percent of total turnout, higher than usual.

• More undecided whites than usual could break for the Democrats because of the economy.

Either could happen. If either does, all three Democrats win here. If both happen, they win big.

Alternate scenario: Black turnout puts Obama over the top, but not Hagan and Perdue.

Republicans have to hope that neither black turnout goes up nor whites break for Democrats.

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