UPDATE:Video of Obama’s reaction to the endorsement is below the fold.
Thank you, General. He hits all the right notes about the bottom line and this election. First, here are Gen. Powell’s historic comments on MTP:
Retired General Colin L. Powell, one of the country’s most respected Republicans, stunned both parties on Sunday by strongly endorsing Sen. Barack Obama (D-Ill.) for president on NBC’s “Meet the Press” and laying out a blistering, detailed critique of the modern GOP.
“I think he is a transformational figure. He is a new generation coming ... onto the world stage and on the American stage. And for that reason, I’ll be voting for Senator Barack Obama.”
...“And I come to the conclusion that because of his ability to inspire, because of the inclusive nature of his campaign, because he is reaching out all across America, because of who he is and his rhetorical abilities — and you have to take that into account — as well as his substance — he has both style and substance, he has met the standard of being a successful president, being an exceptional president.”
Powell, speaking live in the studio, told moderator Tom Brokaw that he is “troubled” by the direction of the Republican Party and statements by the campaign of Sen. John McCain (R-Ariz.), and said he does not believe Alaska Gov. Sarah Palin is ready to be president.
“They’re trying to connect him to some kind of terrorist feelings, and I think that’s inappropriate,” Powell said. “Now I understand what politics is all about — I know how you can go after one another. And that’s good. But I think this goes too far. And I think it has made the McCain campaign look a little narrow. It’s not what the American people are looking for. And I look at these kinds of approaches to the campaign, and they trouble me.
“And the party has moved even further to the right, and Governor Palin has indicated a further rightward shift. I would have difficult with two more conservative appointments to the Supreme Court, but that’s what we’d be looking at in a McCain administration.”
Powell said he has “heard senior members of my own party drop the suggestion [that Obama’s] a Muslim and might be associated with terrorists.”
“This is not the way we should be doing it in America. I feel strongly about this particular point,” Powell said. “We have got to stop polarizing ourselves in this way. And John McCain is as non-discriminatory as anyone I know. But I’m troubled about the fact that within the party, we have these kinds of expressions.”
Expect Freeper, Red State, LGF, and other wingnuttia explosions in 3…2…1…, with the meme that he endorsed Obama because he is black. Look what happened to Condi Rice for simply being complimentary of an Obama speech earlier this year.
***
More video of Powell, outside the studio explaining his endorsement, including a comparison of Obama’s steady approach to issues and leadership (thus tacitly admitting there’s a temperament issue with McCain).


