Well, I am a kid at heart which means I am motivated by fun. My youngest is only 15 but he has been economically and politically aware since he was about 10. He has come up with the most amazing activity that I know you and your family will love. Why am I so sure you'll love this? Because it's a game. Yup, a game. And who doesn't like having fun?
My youngest went to Print-Bingo and created "Obama Bingo". Yup, he just typed in a list of key words/phrases President Obama is known for (from his 2008 campaign and throughout his first term). Then, using Print-Bingo he generated a stack of bingo cards. We watched 60 minutes last week (they were interviewing both Barak Obama and Mitt Romney) and let me tell you, it made listening to this so much fun.
You can follow my son's lead and create your cards based on the candidates' buzz words/phrases. You're not limited in your creativity. Another option is to make up cards that have words or phrases that pertain to what is important to your family. Then give each person two cards: one for President Obama and one for Mr. Romney. Then as they debate, you could see which candidate is addressing our family's views most closely.
To really get everyone engaged, include everyone in the entire process. Have everyone sit around the table to create a group list of words/phrases. Then generate your cards. The night of the debates, give everyone one or two cards (however you have decided to play) along with a highlighter. Trust me. This will be the most fun you've ever had watching anything political!