This is a good answer. The social significance of the election of Barak Obama to the presidency of the United States is that he is the first person of color to be the president of America. This fact alone is huge. Perhaps even more importantly, we need to keep in mind the history of America when it comes to race relations - from the days of slavery to the days of the civil rights movement to the presidency of Barak Obama. American has come a long way.
The election of president Obama also is significant, because it shows that America is a nation where anything can happen. It shows the evolution of freedom. It also shows that American is a land of opportunity and democracy. All of these points give hope that people are created equally.