I see this time and again, from talking to colleagues and relatives, reading letters to the editor, and from perusing the comment sections on the web. I see sentiments that the U.S. is bankrupt, the debt will overwhelm us, and we can't be burdened with public sector unions anymore. And the worst part is, I see these views expressed from people on both sides of the political spectrum.
Oddly enough, a recession that threatened to turn into a second depression, that came on the heels of an era of financial deregulation and neo-liberalism, seems to have nevertheless fostered a political zeitgeist closer to the 1970's than the 1930's. This is as bad news for the radical left as it is for the Democrats.
And interestingly, this seems to be broadly the case internationally as well. There are virtually no countries where the left has benefited from the crisis. Not even in Latin America. Granted, recessions often aid the right, but it's noteworthy that no left-wing reformers have emerged out of the rubble of the global meltdown.