(11-7-12) Since the Republicans are holding on to the House, the situation in Congress remains unchanged. However in terms of the ability to get something done and the ability to compromise, that can only be done by the President. It should be noted how much Clinton got done in his second term.
All of the fiscal surpluses inured by the Clinton Regime came in his second term. They did something that was never done before in the history of the Republic. They were able to accrue five years of consecutive fiscal surpluses. How he was able to do it was because he was a lame duck president.
Presidents get concerned about their legacy in the second term. They know they're not running again so they have the ability to compromise to get things done which they don't have in their first term.
This is important because now we are closer to the edge, since the planet is closer to fiscal collapse than it ever has been before. The United States is still in the position where it has to take the lead as it were.