Beyond the symbolism of President Barack Hussein Obama’s election is the unseen ways in which it is transforming the racial discourse in this country; however, whether it means a substantial transformation of structural inequities is more elusive. Does Obama’s election mean that the United States has moved beyond its historical legacy of slavery and institutionalized segregation? Are racial groups interchangeable in this colorblind universalism, so that one group can be merely substituted for another? We are in the process of digesting what his presidency means for Asian Americans on both a superficial or symbolic level, but also on the tangibles, namely the implementation of the campaign slogan “change we can believe in.” Recognizing that much remains uncertain for Asian Americans, I critique the connections, real and imagined, they have to the presidential election, provide cautionary notes on the post-racial narrative, and comment on the ongoing process and impact of racialization.