One big one is that the threats to repeal the Affordable Care Act are now hollow. The main consequence politically is that the Republican Party will now need to undergo significant change. Since the overall balance of power in the Congress hasn't changed all that much, what will change is prospects for compromise due to the current crop of Republicans wanting to be re-elected in 2014.
Then there's what we hope for, rather than what we can predict. I'm looking for much more attention to stimulating the economy, creating and preserving good jobs, improving education at all levels, making serious progress on environmental issues, rebuilding infrastructure -- in short, getting some real progress on those things government is supposed to do.
One consequence we have not yet thought too much about are possible vacancies on the Supreme Court. We can say with confidence that Obama and Romney were extremely different in this regard. Obama won, and that probably means we will have a far more liberal Supreme Court before long. Several of the justices are not only old but in poor health.
Other Answers:
2. Rapid rise in inflastion
3. Zero economic growth
4. Growth of Iranian caliphate in the middle east
5. US military disbanded
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