It's clear what will happen: Obama faces an impossible situation that no mortal could ever solve. He will be seen as a failure and there won't be another dem elected ever again in my lifetime.
I think it's too early to say that for sure and for the record, I voted against him. He definately has set some high (I think unrealistic) expectations, but it will likely hinge on what happens with the economy. Time will tell. I just hope that someone can get back to some fiscal conservativism.