It didn't take too long to realize that Biden and Edwards didn't have a shot for President, and Republicans don't have a snowball's chance in hell to regain a majority in either chamber of congress. Its most likely that we'll have a spend-happy Democrat in the oval office, working with a Democratic congress, and government spending will be even worse that it was from 2000 to 2006. What should we expect?
Obama has not made balanced budgets a priority. Instead, he promises numerous tax cuts likely to make the situation worse, including subsidies for education, child care, homeownership, "savers" and people who work. Obama also vows to extend the Bush tax cuts for families who earn less than $250,000 a year. According to an analysis by the Tax Policy Center, a joint project of Brookings and the Urban Institute, his tax plans would deprive the Treasury of nearly $900 billion in his first term, and increase the national debt by $3.3 trillion by 2018. ..
"I suspect that McCain will be more constrained and will have a veto power over the Democratic Congress," said Alice M. Rivlin, who served as the first director of the Congressional Budget Office, as well as one of Clinton's budget directors. "If it's Obama, the Democratic Congress is going to be pushing for spending and it's awfully hard to rein in your own folks. No Democrat is going to want to go to war with Congress." Emphasis mine