Fantastic article by Katrina Vanden Huevel. Please read in full, as this was essentially what I was trying to say all last night, and for the past several weeks. Here is one of the key paragraphs.
"Already we hear calls that the new Democratic majority must not "overreach." That is code for "do not use your mandate." Ignore those calls--- this election was a referendum on conservatism that has guided American politics since 1980. Indeed, future historians may well view Barack Obama's victory as the end of the age of Reagan and the beginning of something substantially new. And progressives can justifiably claim that the election outcome was a clear repudiation of conservative economic ideas and absurd claims that a more egalitarian approach to growth constitutes "socialism." This ideological rejection, the sharp failures of the Bush Administration and, perhaps most important, the shifts in public views on the economy and the war have led to this watershed moment--a historic opportunity for a progressive governing agenda and a mandate for bold action."