Obama gets big bucks and a big name endorsement.

In a move that signaled a decisive coupe for the Democratic presidential contender, Gen. Colin Powell on Sunday announced his support for Sen. Barack Obama. Calling Obama a “transformative figure,” Powell gave an eloquent defensive of his decision to go against his party – and his long-time friend Sen. John McCain – to endorse Obama’s candidacy in an appearance on NBC’s Meet The Press. “I feel that Sen. Obama has captured the feelings of the young people of America, and is reaching out in a more diverse and inclusive way across our society,” he told reporters Sunday. He said that while either candidate would make a good president, Obama is ready to lead the nation. “He had a steady approach to problem solving, which we need in this country,” Powell said of Obama. Powell also said he was impressed with Obama’s choice of Joe Biden for vice president and his ability to inspire the nation. On the other hand, Powell said, he was disappointed in McCain’s lack of a definitive solution to the nation’s economic problems. “Almost every day, there seemed to be a new approach to the problem, and that concerned me,” Powell told NBC. Powell was also critical of McCain’s negative campaigning and vice presidential pick of Alaska Gov. Sarah Palin, who he said was not ready to be president. Obama, who drew crowds of 100,000 to 200,000 in battle ground states like Missouri over the weekend, said he was “beyond honored. I am deeply humbled” by Powell’s endorsement. While Powell, who’d campaigned hard for George W. Bush and served in Bush’s cabinet as secretary of State, says he remains a Republican and won’t hit the campaign trail for Obama. But, he added that he sees his party as marching too far to the right. McCain, who has been friends with Powell for more than two decades, said that while he respected Powell’s decision, Powell’s Obama endorsement did not come as a surprise. McCain said he’s proud to be backed by four former secretaries of State. Meanwhile, Obama raised a record $150 million last month to bolster his bid for president. For more on the impact of Powell’s endorsement, see Pamela On Politics.

What’s the Obamacans’ impact?

Sen. Barack Obama’s campaign knows a win in November will require more than the party faithful. He’ll need to woo Republicans to his camp, and it appears the first wave of crossovers are ready to venture across the aisle. Get the latest on this story from Pamela On Politics.