By MICHAEL SCHENKLER

Change We Can Believe In: While the young, Democrats, liberals, and New Yorkers of all sizes and shapes are counting on a Barack Obama victory to restore to our nation the pride, self respect and good feelings that have been lacking for the last eight years, there is a lot more that is appealing about the change Obama can bring.

An Obama victory will immediately change the world's perception of our country which has suffered greatly under the present administration. Not to discount the economic woes of the United States, but the lack of confidence in our country has significantly contributed to our weakened currency.

A new Obama administration is likely to restore confidence in America and provide world cooperation that will strengthen the dollar and the standing of the United States in world markets.

This Republican-sounding mantra may just be the incentive which will help supplement the record-setting Obama fundraising and elect Obama and with it, change we all can believe in.

The State We're In: The Governor knows. Everyone in Albany knows. It's about the worst kept secret in the state. New York State is in deep financial trouble. Analysts predict a record shattering deficit that our children and grandchildren could be burdened with because of the fiscal shenanigans in our time.

While the governor has quietly ordered staff cuts - leaving all vacancies unfilled except those protecting health and safety, and a 3.35% spending cut, it's another case of too little too late in the Empire State. While he has vowed to chop major waste, claiming 5% to 10% could be cut without affecting the average New Yorker, the budget is a testimony to the same ol' Albany games.

The less than courageous action by the governor and State Legislature in passing an almost $122 billion dollar budget, which increased spending by almost 5% from last year, continued a long series of building budgets with fanciful structure and support. Throw in the debt of quasi-public state agencies which are hidden from the public and the house of cards becomes ever-so-more-likely to topple.

And it will topple on us and our kids in huge taxes needed to repay the deficit. It will cause many to flee the state leaving those who remain obligated to an even larger share of the debt we leave them.

Yup, your legislators vote for it and will do so again next year.

Primary Election Watch: Petitioning is done, the campaign is in full swing.

Meng v. Young: the 22nd Assembly district challenger Grace Meng filed several thousand more signatures than incumbent Ellen Young. In a prelude of the most competitive primary of this election season, Meng has made it clear that she is in it to stay and in spite of the efforts of powerful councilman John Liu, some insiders are buzzing that Meng may be the stronger and better candidate.

Meeks v. Wills: While popular congressman Greg Meeks is clearly unbeatable at the ballot box, Ruben Wills has been the buzz of the Southeast Queens petition season. The young organizer out of Shirley Huntley's operation - she's not supporting him, we're told - has put together a petition operation that would make any old pro proud. While Meeks will likely overpower him, Wills has established himself as a future Southeast Queens player.

Ford v. Young: Teamed with Wills, is Democratic District Leader candidate Erica Ford, an established community organizer rooted in southeast Queens' powerful hip-hop culture. Ford is taking on party mainstay Dora Young of the powerful Guy Brewer Democratic Club. What we may be seeing here with Wills and Ford and others is the beginning of the changing of the guard as old timers from the area who dutifully backed Hillary, are facing challenges which appear to come from a newly energized group of the party emboldened by the victory of Barack Obama.

Addabbo v. Baldeo: Finally, we note that it appears that all the negotiating and posturing to give Democratic Councilman Addabbo, Jr., a clear shot at Republican State Senator Serf Maltese may have been for naught. Joe will likely have to spend his time and money battling Albert Baldeo for the right to battle Maltese. It was Baldeo, who two years ago, demonstrated that Maltese was vulnerable when the surprise little-known candidate came within a couple of hundred votes of unseating the old timer.

This seat has been the number one target on the list of the Democratic Senate campaign effort - lead by Southeast Queens' Malcolm Smith - in their attempt to take control of the Senate.

MSchenkler@QueensTribune.com