I'm not optimistic except that Obama will be unable to do more through congress. Sadly, the laws passed already give huge power to unelected regulators.
I think we're screwed, frankly.
The US desperately need to massively cut spending. The discretionary budget is chump change. We need the congresscritters to man-up, look the camera in the eye, and step on the "third rail." SS, Medicare, and medicaid are going to destroy the country. Raising taxes will NOT solve the problem, raising marginal rates will not massively increase revenues for more than 1 year, then it will drop back to the same % of GDP range it always is regardless of marginal rates (as it stifles growth).
Cutting entitlements is the only hope. The demographics are all wrong with baby boomers demanding more free loot than they have a right to expect (there is no reason for anyone to expect anything past what they would have expected had they retired in the middle of their working life—as far as I'm concerned Bush's idiotic medicare drug thing should only be given to people who started paying FICA the year it was passed). Everyone else should be SOL on that, they never expected it, taking it away is taking away NOTHING they paid for.
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