Last night President Barack Obama won in a landslide against incumbent Mitt Romney in the 2012 Presidential election. Picking up 306 electoral votes, way more than the 270 needed to win the Presidency, Barack ran away with it last night. Despite the win, nothing much has changed in Capitol Hill.
The House of Representatives is still owned by the Republicans. 60 of the 100 seats in the House are held by the GOP. The lost 12 seats, 10 of those seats were members of the freshman “tea party” class. They picked up 9 new seats in North Carolina, Arkansas, California, Oklahoma, Kentucky, New York and Pennsylvania that were previous held by Democrats.
The Senate was the same story, just this time, the Democrats held strong. Harry Reid still holds his position as Senate Majority leader. With that said, what does Barack’s re-election mean in the grand scheme of things? It was the Democratic Senate and the Republican House of Representatives that held up the country several times when it came to balancing the budget. Job growth and improvements to infrastructure all fell to the wayside while the Senate and House played politics with the people.
If Barack plans on trying to raise taxes on the rich, expect another round of deadlock between the Senate and the fiscal conservatives who live in the House of Representatives. With the looming “fiscal cliff” coming where $400 billion hi higher taxes and 100 billion in automatic cuts in military and domestic spending takes effect in January if Congress can’t have a meeting of the minds and get something together. Economists warn that the combination could plunge the nation back into a recession.
So more than Barack Obama being re-elected last night, the fact that the Senate and the House remain very partisan, we could be in for more years of growth and recession and more years of holding up progress.
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