As much as our economy is heading towards the shitter I think people make it out to be way worse than things are. Nothing too crazy is going to happen in the next 3 years, except Obama will leave office and we'll hopefully get someone into the presidency who actually knows what he/she is doing (be it a democrat, republican, or third party candidate).
Nevertheless, we absolutely need to reduce spending.
I can definitely see a third party coming to rise in the near future though, with a more libertarian approach. It won't be within the next 3 years, but there are a decent amount of people in the U.S. right now that want a party that is serious about reducing the size of the federal government and cutting spending (unlike the lying republicans), and that are lax on social issues (gay marriage, abortion, etc).