If he doesn't raise taxes, then where the hell is all the money going to come from that he has promised to spend?? Oh wait, he fucked up. Now he has promised free everything to everyone, but we will have significantly lower tax revenues than origionally thought. He now will have to chose bewteen the following: 1- Not delivering all the handouts to the deadbeats which will piss off his base. 2- Raising taxes which will piss off the independent portion of his voting block. 3- Running up even larger deficits which will have the worst actual consequenses for the economy. Basically, he's between a rock and a hard place.
I'm aware of this. But the "January Effect" might not happen since investors don't know what to expect regarding capital gains. Obama has left it too open-ended.