CNBC - Any euphoria President Barack Obama and his supporters feel after his re-election is likely erased by the thought of getting a second term agenda passed through a still divided Congress.
So-kumbaya aside-what will Obama try do in the next four years? Here's a look at what he promised on the campaign trail.
Taxes
What was a contentious issue during the campaign will likely remain so. Obama said that higher taxes on the rich will not stifle economic growth and that both tax hikes and spending cuts are needed to achieve long-term deficit reduction. Whether he can get Republicans to agree to any tax hikes may be his greatest domestic challenge.
Obama also has said he would like to raise taxes on the wealthy and ensure they pay 30 percent of their income, which he says would help reduce the budget deficit. (Read More: What is the Deficit)
Obama said he supports extending Bush-era tax cuts for everyone making under $200,000, or $250,000 for couples. He had agreed in 2010 to a two-year extension of the lower rates for all taxpayers.
But that extension ends on Dec. 31, and Obama has said he would let the top two tax rates go back up 3 to 4 percentage points to 39.6 percent and 36 percent-and raise rates on capital gains and dividends for the wealthy.
A Treasury Department report says Obama's proposal to let the Bush tax cuts expire for top earners would hit only a tiny fraction of all small businesses-but it includes nearly 1 million companies.