Very well said, though I stick to my outlandish exaggerations :). A few points I disagree on if we are being serious though. While the Tea Party is a very minor section of US politics, their poll numbers are surprisingly high. Incidentally, when you remove the ultra vocal chapters there are actually some pretty good traditional Conservative ideas buried deep in there. The problem, I think, is that the ultra vocal branches are the ones most likely to field candidates in some of the deep red states, and the majority of that public will just vote blindly without realizing who exactly they are voting for. Then, as we have recently seen, even a single senator can create problems in that house. On the other hand, this could work out well for getting a bit of fresh blood into the system, either by splitting the vote, or by getting Tea Party candidates into office. Anything that breaks a dynasty is to be commended.
Regarding for my stance on bank reform, I should clarify that I mean bank reform that would actually include meaningful change to the system. Of course that would require much more government involvement in banks; an issue for much of the older generation in the south, who had it hammered into their heads that government regulation is the very essence of Communism. As such, while people are certainly for regulations, the only things I could see passing the public arena (Especially after the spin doctors are done with it) are a weak slap on the wrists that would in my view almost ensure another major crisis within one or two decades. If we get to that point, I certainly hope that the current generation will have much to say about the matter.
As long as the public supports the legislators that so obviously oppose these reforms, they are effectively against reforms, even if they may approve of them in principle. Perhaps if move younger voters came out in Republican bastions things may be different, but I hold to my statement that a sizable portion would simply not support reforms to the level that needs to happen.
Similarly when it comes to basic health care, I should mention that I consider preventative care to be a basic right in a nation at the forefront of health research. Obviously I am not suggesting that you would need to treat everyone like a millionaire, but everyone should have access to a general doctor when they need one, without any unreasonable delay, or unreasonable out of pocket cost. A public option is really the only reasonable way to accomplish this at a reasonable cost (Along with significant reduction in red tape for medical facilities). The thing they are trying to pass in lieu of that will most likely result in one company, or a small conglomerate of companies monopolizing the national market, netting somewhat reduced premiums, and very high profits for the entities involved. I'm not sure how the tax credits will work, but those tax credits do not change the fact that there would still be a very significant movement of money from the public to corporations. Again, this would not survive more than a few decades, but those decades would not be too pleasant.
I will admit that I added in the high speed rail thing as a literary device more than anything else. It seemed like a good way to tie the conversation to the topic without getting too political (Too late now?). In fact I'm not too familiar with the debate, since it is a bit more local than I care to delve as I don't even live in the country. Based on what you said, I do hope it will be built eventually. The sooner the better, as it would certainly help by getting some people working, but again, for me the jobless rate is just a statistic, and the rail topic is a black box.
Finally, about being screwed. I see it like this: The upcoming election will most likely decide the course of the next decade or two. If the Republican strategy of "No! No! No! No! No! No!" works, and worse, becomes the norm, then we will have a very painful couple of decades waiting for the current generation of politicians to lose enough power to allow our generation to make some changes (filibuster reform being high on that list). In that time we would probably see sprawling global changes as the myriad of political systems connected to the US try to survive. If, on the other hand something changes to bring some logic back into politics we may dodge the bullet, and be set on creating a more modern form of government centered around openness and all the other things Obama likes to preach. The cost you mentioned would still be there, but the US is a pretty powerful nation, it can swallow the cost as long as it has a viable long term strategy. It has certainly done so before.
The US is most certainly ready for a bit of progressivism, people just need to accept that these things come in cycles, and when the cycle ticks there is a price to pay for the changes. All that remains is to see whether the people will realize this in time, or will the system be stretched beyond the breaking point. Either way, fun times will be had by all.
And yes, perhaps I do glance at the news every once in a while :)