From FEAR to HOPE (in 365 days or less)

The 2008 Mensa page-a-day puzzle calendar (gift from Mom) must have been designed in mid-2007 and printed by Fall 2007, but December 31 seems like a prescient summary of the year 2008.



Hmmm…
FEAR refers to Mister Cheney/Governor Bush.
PEAR must be Mrs Clinton.
PEAS could be Biden and Dodd.
PEPS the Democratic Convention?
POPS is McCain.
HOPS is Palin.
HOPE is Obama.
????

Another solution:
FEAR
FEAT
FEST
HEST
HOST
HOSE
HOPE
It's more fun to find a solution that's not on the answer sheet and out of the box, altho this one has to use the archaic word "hest".