The short answer is, yes, in that it will be Harry Reid blocking everything with a filibuster instead of Mitch McConnell. So what if the GOP gets a majority of anything less than 60 of 100 senators? Short of that number, the opposition can block everything, which is exactly what they did while in the minority.
I’d expect that if the GOP wins in the Senate, we’d see the celebrations cut short by the rift within the Republican party between the old hands and the young bucks of the Tea Party faction. We may yet see the Democrats yield the floor to filibustering Republicans shooting down their own party’s agenda.
Sure, the President can veto bills that cross his desk – it takes just one guy to block a law – but those laws don’t even get to his desk if at least 41 guys in the Senate decide to block a law. The Democrats could barely trickle out legislation with a majority of 55 in the Senate. The GOP will be hard pressed to do better with a majority of 51.
And as for the nearly $4 billion spent on the elections this year… it’s just more evidence that the people that do get into government are strongly beholden to certain interests, at the very least. Quite a few are bought outright. This is why the richest Americans get Quantitative Easing bank account boosts and the poorest get a no-fly zone and assaulted journalists when they have unaddressed needs. We’ve got Soviet-style apparatchniks engaging in a kleptocratic, autocratic looting of the nation. This has been going on for some time. It’s just more apparent with each passing election and mania/crash economic cycle.