The real winner in tonight's elections was corporate America.
Tonight a great victory was won for the principle that government should be weak and incapable of anything like effective action. Large corporations will be able to run circles around a Congress that will be unable to accomplish anything of any significance.
Make no mistake: the Republican Party has no agenda of its own, and even if it did, it would would be unable to pass it in the face of the Democratic majority in the U.S. Senate and Barack Obama's veto. But make no mistake about it: the Republican Party has no legislative agenda. It's one priority is to prevent any attempt by Democrats to reform the system--and tonight the Republican Party succeeded decisively in blocking reform.
So now our nation enters into a period of deadlock. There will be no significant legislative reforms. The Republican Party will seek to sabotage the functioning of the federal government by denying it funding. There may be a government shutdown in our future. The question going forward is whether the Obama administration will be able to govern effectively enough to build a case for its re-election in 2012. Only time will tell whether that is a case that can be made.