An American Jubilee
The Biblical-era idea of Jubilee was focused on returning property to its original owner and freeing slaves.
The concept of an American Jubilee will be a re-base lining of government programs (massively reducing government obligations like Social Security, Medicare, Medicaid, Obamacare, disability, and the other costly and unsustainable tentacles of the welfare state) and maybe (it’s unlikely) freeing the tax slaves.
There is a way around an American Jubilee, and that’s for the Fed to induce inflation regarding government debts and obligations to the point where they’re payable. (And it isn’t just in America, it’s all across the nation-states of the West, to include Japan.)
While the Biblical Jubilee has not been observed for centuries, an American Jubilee—and a Western Jubilee writ large—will be observed sometime in the future. Re-electing Obama means the American Jubilee will occur sooner; electing Romney means it will occur later.
Normally (all other things being equal), sooner is better than later. This is an exception.