There are only two scenarios for America for the next decade: Socialism or Revolution.  However, both scenarios involve a bankruptcy of the US government.

The spending of the US is not sustainable.  Everybody knows this, including Obama.  However, Obama is trying to preserve the present system.  This is a mistake and will result in many more years of pain.  It would be better if the country would immediately embrace socialism but politically it is not possible.   So, the US will continue to  bailout companies, prop up banks, finance state governments, and fund programs trying to help the disenfranchised.  Eventually, this will fail because the world will be unwilling to finance the US debt or the interest on the debt will be greater than the US government’s income.  In any case, the system will completely fail.

Eventually, the present system will be abandoned, a new economic system will be created, and default of the present US debt.  The government will guarantee basic services for all of its citizens and find or create jobs.  Some greed capitalism will be permitted but most citizens will live in a new world of socialism.

However, if the Republicans are successful at demonizing the spending policies of the democrats and get elected on policies of cutting spending and taxes, the US will still reach a point when it is not able to pay interest on its national debt.  Because Republicans are so committed to lower taxes, there will be less and less money to pay for essential cost of government.  Eventually, this will result in a complete economic collapse and revolution.

Neither scenario will be able to provide jobs for all of the citizens who need them.  This is largely because technology is destroying jobs faster than jobs can be created.  Jobs are being exported to cheaper labor markets. More and more jobs are paying less than a living wage.

America is doomed.