The decision to name the United States’ first black president Person of the Year — announced exclusively on TODAY on Wednesday — followed weeks of discussion and debate among TIME editors and staff members. In a year when the economy imploded before our eyes, could U.S. Treasury Secretary Henry Paulson have made a provocative choice? How about Hillary Clinton or Sarah Palin, two women who captivated the nation over much of the past year and who both, in their own ways, came so close to the presidency themselves?
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