Whoever won the election would have found clear policy markers, set by asset prices reflecting the best available information about the current state of key economic fundamentals.
That is an unyielding policy corset where the vote-grabbing campaign rhetoric will come down crashing. And then we shall see hand-wringing, shoulders shrugging and the usual invocation of that age-old prophecy: "Election promises are made to be broken."
Whether that should be one of the hallmarks of democratic societies has been a matter of debate ever since Socrates (470/469-399 BC) held court around Athens, trying to educate his fellow citizens in clear thinking and in the virtues of public service. That debate will go on. Reassuringly, Plato's (Socrates disciple) Republic is still at the top of required readings in the most prestigious American colleges.
The incoming class of our leaders will test their political philosophy on the socio-economic issues such as price stability, budget deficits, public debt and the soaring net foreign liabilities.
How they handle these problems will determine the outlook for jobs and incomes, and will seal their fate in the next election cycle, starting with midterm Congressional elections in 2018. That is when all 435 seats in the U.S. House of Representatives and 33 of the 100 seats in the U.S. Senate will be up for grabs. And that is also when the acting president could become a walking wounded and a one-term player.