It's interesting that you suppose the AU and US results are likely to be different. As an USian I do not perceive that the system very often fails smart, motivated, hardworking people, healthcare and education regimes notwithstanding.
http://en.wikipedia.org/wiki/Socio-economic_mobility_in_the_...
The good news is everyone is getting richer (rising tide), the bad news is inequality is increasing and low mobility is nothing to be proud of. Like logicchains I'm Aussie and we fare better at the moment, though we're also starting to head in the wrong direction by these measures.
Fortunately they are not very competent and do not have full control of the parliament, so most of their bills have been blocked by minor parties.
The not very competent people who wave snowballs around in congress, send bitchy letters to Iran and Israel, and squawk about #OBAMANET have full corporate sponsorship and the propaganda machine that is our media keeps getting these imbeciles elected.
The US is definitely treading water right now. I remain hopeful, but not optimistic.