Worst case: an ever-increasing draft to for the quagmire in Iraq, invasion of Iran, nuclear brinksmanship with North Korea possibly with nuclear exchange, exploding deficits that drive long-term interest rates up and crush the US economy, plus a domino effect of muslims countries being toppled by radicalized bin laden-style young turks.
Best case: Iraq simmers at a level equal to the current mess, a miracle somehow occurs with Iran & NK, bin Laden-like revolutions aren't triggered by his stupid policies, and he manages to get out of office before the deficits bring down the roof on everyone's head.
Raising taxes: ha ha. Unless you mean "raising taxes on the poor to close the deficit"; I suppose that's possible.....


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