Quote Originally Posted by dragonrider
Let's not forget the so-called "down ticket" races with all the hoopla over the presidential race. According to this article, it looks like the Dems are likely to pick up seats in both the House and the Senate.

I'm pretty sure Obama will take the presidency, but if by chance McCain takes it, he will definitely need to pull upon his reach-around abilty ... uh ... I mean his self-described ability to reach across the aisle. He will have trouble moving any kind of legislative agenda at all without compromise with the Democratic majority.

If Obama does take it, then he will have a freindly majority in both houses and should be able to move a legislative agenda easily. The most likely challenge will be to rein in excessive overreaching. Bush had a majority in both houses for 6 years, and look what happened --- Republicans gone wild, and the country in the crapper. If the Democrats are lucky enough to get the presidency and both houses, they'll have to put up or shut up. I think they'll do a lot better job than the Reeps did.
Unchecked power, regardless of which side of the political spectrum they represent, is a recipe for disaster. Now massive spending bills will be enacted at a faster rate, requiring either higher taxes or ulterior spending cuts, just to keep the debt from rising (that is of course Obama wins, and he sticks to his "pay as you go" platform).

Since the majority of spending is appropriated on social preservation (medicare, education etc...), tax increases look to be enacted to halt debt. This, barring a new technological innovation like the internet had on the 90's Clinton administration, will have a negative effect on the economy.