Irrespective of who wins the election, I think the long term health of the US is tenuous at best.
This country has incredible wealth and power. The citizens' optimism and innovation can overcome many things. The balance of power set forth in the Constitution has a way of correcting course when the country goes down the wrong path.
However, its time to refresh our memories about the Rise and Fall of the Roman Empire, or the Greek city states, or the British Empire, or the Habsburg Dynasty, or Ming China, or the Moghul Empire in India, ... The real question is, will the US decline slowly and steadily over 500 years such as happened with the Romans or will there be a dramatic crash?
The current trends (which can be corrected) point toward a crash. The country's finances are in a scary position - much worse than either party wants you to believe. Our free spending lifestyle is funded by Japanese and Chinese governments who are willing to purchase our debt. What happens when they start dumping these assets? What are we doing to pay for the looming cost of medicare and social security? We are outsourcing lower paying white-collar jobs overseas, but we do not have a monopoly on innvoation and ideas. All those intelligent engineers overseas are going to move up the food chain, especially since other countries do a better job of educating their children. Quality education is critical in a competitive knowledge economy. Our military is overextended and the situation in Iraq is much worse than the administration would have us believe. Everywhere I look, I can't find any positive long term trends. Help me out, I'd love to see it differently.
As it stands now, the era of the Clinton and Bush administrations is set to be viewed by history as the pinnical of American power. The Aristocracy in this country will do fine. In a way the whole war and homeland defense initiatives have been a massive wealth transfer from taxpaying middle class citizens to owners of defense, construction, and energy companies. I worry about the members of the upper-middle class who are outsiders, the entire middle class, and of course, the poor. They are going to get squeezed and luxuries we've come to expect are going to disappear.
That said, lets keep a little perspective. I've backpacked to poor remote villages in Asia, Africa, and South America. Most Americans at all levels of the socio-economic spectrum have it so much better. Most people in the US are not worrying about putting food on the table or basic health issues. And dispite all the (I would say misplaced) fear since 9/11, the US is mostly a safe place to live with lots of freedoms that are not available in many countries. I just wish we could teach people to save a little more. Our spending habits are morgaging our future. Our government's habbits mirror those of the citizens. It is not sustainable.
Neither party is offering any real solutions to these problems. Ralph Nader isn't either. But then the citizenry isn't really helping either. We complain about taxes. But we also complain when services we use are taken away. We keep asking for more pork.
I don't necessarily agree with the political slant of moveon.org. But the "Child's Pay" ad which won their competition is brilliant.