There is a major difference between Bill Clinton and Obama:
Clinton was a political opportunist, with no real convictions or beliefs of his own. He started out leaning left, because that's where the party was. When the Republicans took back the legislature (over health care) in '94, he lurched to the center because it was politically expedient. Most of his fiscally conservative programs followed, and were actually Republican ideas that he embraced as his own. As a result he was able to win re-election for a second term.
Obama however, is a hardcore idealogue who believes heart and soul in the Marxist idealogy in which he was indoctrinated. I think he will continue to promote his far left policies even after losing a clear majority in the legislature. Their behavior to this point clearly indicates that they have no regard whatsoever for what the people want, and I don't think this will change. They will continue to deny reality, and push progressive agendas that will continue to hold the economy back, and they will continue to try to blame it on Bush, rather than their own utter incompetence and unwillingness to admit that socialism simply doesn't work.