Yes it is, but according to you we need more "Bi-Partisanship and Compromise" to fix the problem... Yet you seem to totally ignore the fact that it was bipartisanship and compromise that created this spending inferno in the first place and have further failed to explain how 'more of the same' is going to lead to efficacious results.
With Romney in the Executive and Republicans controlling the House and Senate, the Tea Party and fiscal conservatives can drag that group of losers to the finish line of fiscal sanity. Dems think higher taxes and more spending is the solution, their Keynesian philosophy is ruinous and must be defeated, compromising with them is insane.
I hope you're right, but I don't have the confidence you seem to have in the Republican Party, or the Tea Party. I foresee more business as usual.
Oh, Romney could ameliorate the situation a little with the financial experience he has had, but really, do you expect such a miracle from anyone?