I alluded to these issues in the post below, but the WSJ's James Taranto does a good job of flushing them out:Democracy is the theory that the common people know what they want and deserve to get it good and hard.H.L. Mencken
The mess today's winner will inherit includes not only high unemployment and slow growth but impending policy changes that threaten to make those problems worse. On Jan. 1, unless Congress acts, the Bush tax cuts expire--or, to put it another way, "massive, job-killing tax increases" are about to take effect (that quote is from President Obama). If Obama gets his way--which he likely would if re-elected--Congress will forestall the hike only for taxpayers making under $200,000 or $250,000 a year. That would be good for those fortunate enough to have jobs, but it would not change the tax increase's job-killing nature, as it would hit investors and small businesses hard.
Then there's ObamaCare. Although enacted nearly three years ago, it was written so that most of its provisions would not take effect until the next presidential term. "The bottled-up rules to set up President Barack Obama's health care reform law are going to start flowing quickly right after Election Day," Politico reports. "As soon as Wednesday, the gears and levers of government bureaucracy are likely to start moving at full speed again."
Taranto misses at least one other obvious national land mine - the looming effects of Obama's energy policy and his war on coal in particular, which provides nearly half of our electricity. No new coal plants are being built to replace existing plants, and the effect of the EPA's recent rules punishing coal will be catastrophic for electric generation, both in cost and availability.