What will happen is this socialism crap will be tried, will fail, then be completely broke and we’ll go back to the pre-FDR era of America...people taking care of themselves. But this won’t work because there are too many people who can’t take care of themselves. I think Gen. Sherman wrote about this in a letter to his brother.
Sadly, I don't think it'll be sold as "socialism," so when it fails, people won't say, "see, that socialism stuff failed--let's go back to free market capitalism." It'll be just the same as Social Security is today. It's only going broke because "we're not making the right kind of investment in it."
Instead, any future experiments in socialism won't fail because of socialism. They'll fail because "greedy rich keep finding ways around the system." Or, "expectations of the citizens are too high," and need to be re-calibrated.
But it may be impossible to go back to people taking care of themselves. The United States could become post-Katrina New Orleans--awaiting programs and orders from the government, before we can do anything.