One advantage to yesterday is that it simplifies analysis of where we are going as a country. We have returned the same divided government that was unable to pass a budget for the last several years. Oddly, in the short term this means that there will be some clear fiscal changes:
1) Sequestration will happen.
2) We will dive over the 'fiscal cliff';
3) As a result, government spending is set to decline sharply and taxes are about to go up sharply.
That points to something like a start on the deficit, precisely because the government is incapable of action and agreement. Pre-planned fires like these, however, will not last forever: at some point, autopilot won't be good enough.
I'd feel sorry for any of you about to get hit by massive tax increases, except that really under Obama you're lucky to have jobs at all. I do regret the collapse of American military might that will be demanded by sequestration, but 'they won' -- and the one thing they've always hated most was military spending, which is the largest part of discretionary spending. They aren't ready to struggle with the entitlement issue, but they are ready to gut the Army, Navy, Air Force and Marine Corps.