I just figured out that I needed to add this code to make paragraph spacing:
p {margin: 0px 15px 15px 15px; }
Now that minor problem is out of the way the footer can be dealt with.
UPDATE: I also went back into the "index.php" file and added some closing "p" tags and <p class="postmetadata"> in front of some of the php code that is responsible for meta data. The validator tells me I only have 8 errors now. So it seems the <p> tag problem has been completely solved since no <p> errors are showing up in the validator.
Here is my updated code:
<?php get_header(); ?>
<div id="content">
<div id="contentpadding">
<?php if (have_posts()) : ?>
<?php while (have_posts()) : the_post(); ?>
<div <?php post_class() ?> id="post-<?php the_ID(); ?>">
<h2><a href="<?php the_permalink() ?>" rel="bookmark" title="Permanent Link to <?php the_title_attribute(); ?>"><?php the_title(); ?></a></h2>
<div class="date">
<?php the_time('l, F jS, Y') ?> <!-- by <?php the_author() ?> -->
</div>
<div class="metadata">
Posted in <?php the_category(' / ') ?>
</div>
<div class="clear"></div>
<?php the_content('read more... »'); ?>
<div class="tags">
<p class="postmetadata"><?php the_tags('Tags: ', ' / ', '<br />'); ?></p>
</div>
<div class="comments">
<p class="postmetadata"><?php comments_popup_link('comment', '1 comment', '% comments'); ?></p>
</div>
<?php endwhile; ?>
<div class="navigation">
<div><?php next_posts_link('« Older Entries') ?></div>
<div><?php previous_posts_link('Newer Entries »') ?></div>
</div>
<?php else : ?>
<h2 class="center">Not Found</h2>
<p class="center">Sorry, but you are looking for something that isn't here.</p>
<?php get_search_form(); ?>
<?php endif; ?>
</div>
</div>
<?php get_sidebar(); ?>
<?php get_footer(); ?>