The good news for Democrats -- and a majority of women, blacks/African Americans, Hispanics, other minorities, those who believe that healthcare should be a right not a privilege, that women have the right to decide what's best for them, that you should be able to marry the person you love, regardless of gender, and that government has a responsibility to help people here at home in times of disaster: President Barack Obama was re-elected.
The bad news (or good news for Republicans): The Republicans still have a majority in the House and have enough seats in the Senate to filibuster any bill proposed by their Democratic colleagues.
And the ugly: Thanks to the Republican majority in the House and their ability to filibuster in the Senate, Republicans are going to do their damnedest to make sure no bill that could possibly help the American people and aid economic recovery (and by extension benefit the Democrats) gets passed in the next four years, so they* can disingenuously blame Barack Obama and the Democrats for any economic or other failure -- even, or especially if, they are the ones pushing us off the fiscal cliff. Heckuva job, Boehner.
*Especially Conservative Republican Paul Ryan of Wisconsin, who is Chairman of the House Budget and Ways and Means Committees and will no doubt be running for President in 2016. If you think for a second that Ryan and Speaker John Boehner and the Tea Party Republicans -- the few moderate Republicans are gone -- are going to compromise on or pass ANYTHING that could possibly help the Democrats, take another hit of whatever it is you are smoking -- that is if you live in Colorado and Washington State.