Fiscally I think you're correct as people's views are heavily affected by economic cycles. As the current young generation gets old we'll remember how the recession affected us as we entered the workforce. We'll also have to deal with the debt by then resulting in a more fiscally conservative electorate than we have now.

Socially, we've been consistently getting more and more liberal since the country was founded. Gay marriage is the latest example. Despite North Carolina, polls have shown that support for gay marriage is very much generational.