Well.. another 4 years of tough economic times and most interesting politics ahead for the United States. And since the Republican's still control the House, the president will need to actually work with them, and vice versa. Let's see where it goes.
It California, where I am, they passed Proposition 30, which raises taxes for those who earn more than $250,000 by 1%, then 2% for those over $350, and 3% for those over $500K (or something like that). So basically, some of the high rollers in California might just find another place to move if needed, or if they feel like they may get a ton of money (hence, why some people are selling this year, aka George Lucas and others). Otherwise, you may pay a ton more in taxes.
Oh, and of course, the porn law - which requires actors to wear condoms in movie if filmed in LA County. Stupid. I guess this billion dollar industry will move 20 miles away to Ventura County now.