With Obama at the helm I expect nothing less than catastrophe.
0bama will run out the 'fiscal cliff' clock so that he can hold military pay hostage in exchange for raising taxes. Book it, BET ON IT, bank it, list it, count on it. 0bama has absolutely NO interest in compromising with Republicans. They'll be forced to accept tax hikes or else be painted as villains for causing military pay to be withheld or be blamed for some other horrific byproduct of a stalemate.
'Compromise' means 'Democrats get their way'. There is no other alternative. Four more years of this.. ARGH!!!