The election of 2012 was so contentious that chances are each side was completely convinced that it was going to win. Those on the losing team were probably emotionally devastated, although they are not likely to admit it.

Committed partisans of any stripe often believe that the fate of the entire world will rise or fall depending on the results of their preferred election campaigns. Those who do not suspend healthy skepticism in service to their deeply held beliefs are better able to put politics in perspective. In other words, it is never the end of the world.

It should come as no surprise that President Obama’s re-election means there is no chance whatsoever that the Affordable Care Act (ACA) will be repealed, either wholly or in part. ACA implementation will continue. There also is a good chance that tax policy will change. The question is how.

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