Bush will be re-elected (I'm cynical), the economy will continue to go down the crapper, the jobless rate will rise, lots of folks will own their own homes (most being made out of cardboard), more people will die or become ill because they can't afford medical care, kids in the US will eventually be able to graduate from high school without being able to construct a sentence - if they CAN, they'll be considered geniouses and be accepted into college (if they can pay for it), and the 'domino' theory will continue to play out in the Middle East.

Or not.
If a Democrat gets elected, there will be some sort of scandal about his sex life or drug use back in the 70's and the economy will improve so that the next Republican president can screw it up again.