We could also be in a garden variety depression. I'm as pessimistic as anybody about the GOP in the near-term. But, as I said, anything can happen in 48 months - anything. The economy wasn't even a real issue until 6 months before this past election.
I'd say that this recession truly isn't like any others before it, if only for one reason - never before has the world's economy, and our economy been as inter-dependent has it is today. While economist may predict an end to the recession sometime late this year, in all practical reality, they're just taking a somewhat education wild-a$$ guess. This could be a horrible downturn that will last years, not months.
While the economy was a house of cards, it was not the problem it is until the meltdown was announced on TV and the MSM made it a campaign issue. They blew the horn of doom and despair continuously and did the classic "Bush's fault" gambit through the election to justify the looting of taxpayers and election of Democrats, many of whom created the problem.
Now they are blowing the trumpet of recovery, but things are not rebounding as strongly as they tanked, and we are trillions poorer. They will spin the situation as they spin it, but iirc, we are seeing the greatest pump-and-dump ever pulled.
In addition, "economic recovery" has turned out to be the stalking horse for socialist programs which would never have passed otherwise. We have gone from the "New Deal" to the "Raw Deal" and the media helped make it happen.