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1. Lawrence O'Donnell's ratings are going to skyrocket. He was a star last night (and the past month, actually). MSNBC will do very well, just as Fox News did well in the aftermath of the '08 elections. Angry and upset people get engaged in politics and look for sympathetic voices. O'Donnell's going to be winning the 10pm time slot on Cable News within 6 months.... and if not, he won't be behind by much.
2. The $1 trillion that large companies have been hoarding on the sidelines, will now start to get spent. With gridlock certain, and big business loves certainty more than they love just about anything else, they'll slowly start to open their spigots. As a result, by the summer of 2012, unemployment will be down to around 8%. Still historically bad, but it will look like golden times to an electorate that has had several quarters of nearly 10% unemployment.
3. In about a year, we are going to be VERY thankful that the Senate stayed under Democratic control.... because Obama will be appointing another Supreme Court justice. Because she won't want to risk retiring after 2012, Ruth Bader Ginsberg will retire due to "health issues" at the end of this coming term. Because of only a 52-48 or 53-47 majority, Obama will not be able to get as liberal a justice as Ginsberg confirmed.... but it will be better than the one he'd get through a GOP-controlled senate.
4. The only legislation that will get all the way through this congress to the President's desk for signature will be small-potatoes stuff with the exception of the following possibilities: Immigration reform (but more on the enforcement side and less on the amnesty side), Education, and tax cuts.
5. Obama and Reid will try to get a entension of the tax cuts for JUST those under $250K through the lame-duck session next month. The GOP will scream, but they'll be left to argue on behalf of an extension for those over $250K in January. Once the rest of us have our extension, it will be harder for the GOP to sell the one just for the rich. The 6 or 7 exiting Democrats in the Senate will have nothing to lose by voting for the <250K extension in the lame-duck session. Remember, the House already passed it... so Nancy doesn't have to do anything. We'll see if Obama can succeed here.
6. Gates will resign. Obama will ask Hillary to move from State to Defense to replace him. A big name (Bill?) will be asked to take over State.
7. Geithner will NOT be asked to resign.
8. Mitt Romney will be the first Republican to declare his candidacy for 2012. Sarah Palin will be the last. There will be 10 in all.... among them: Pence, Huckabee, Pawlenty, Barbour, and yes... Gingrich.
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