Yesterday the American electorate accomplished something only seen twice before in the country's history. Along with the election of Democrat Barack Obama as President, voters handed control of Congress to Democrats as well.

The only other times this has happened were in 1932 and 1964. (More on why this is particularly interesting right now in just a moment.)

On this day after history was made, the question on everyone's mind is: Will this decisive Democratic victory bring the much desired bi-partisanship to our nation's Capital? Obama has promised to reach out to all.

As much as we would like to believe that he can do just that, the Democrats will have to guard against a "take it or leave it" legislative attitude. On this Obama promise, we won't even venture a guess.

However, we do feel certain about one thing: Obama's top priorities cited during his campaign will no longer be his top priorities when he takes office on January 20, 2009. As you may recall, President-elect Obama campaigned on three main issues:

• withdrawing troops from Iraq
• creating an affordable health care plan
• investing in new energy alternatives.

When he sits down at his desk in the historic Oval Office, he will have other urgent concerns to worry about. The state of the economy, the crumbling ability of Americans to pay their bills, the possible renewed attacks by Al Qaeda, as cited by his own running mate, and an exploding deficit will force this new President, in the words of Leon Panetta, a member of Obama's transition team, to "put his arms around chaos."

We'll have much more detailed thoughts in the coming days and weeks, but let me (Daria here) walk you through some of our initial expectations for the new Obama administration in several key areas.

Next: Taxes