Interestingly, some of the damage caused by cap and tax can be undone by the next election. With the health care debacle about to be foisted upon us, the damages will probably be permanent. With cap and trade, it doesn’t actually start until 2012, by which time the electorate can elect a new congress, which would need to be 2/3 republican to override the president’s veto against the new congress’s override of cap and trade. Not a very likely outcome, but possible. With Health care, it will be damaged beyond repair before the republicans can get a 2/3’s majority in both houses, particularly the senate.
In the end, its almost sweet irony in that most of the youth of this country wanted Obama, without any consideration of who would be paying for all the deficit spending. I guess that should be a rallying cry for the new republican party to garner the youth vote.