Obama is "confident" that new gun control and immigration laws will be passed very soon. What they will be is unknown. I'm guessing that at the very least they will be able to pass a 10 round mag. limit. If ANYTHING gets passed, it's going to be very bad news as they will continue to chop away at our rights. One step at a time.
This "universal background check" sounds innocent enough but in order for it to be enforced, there will need to be a national gun registry. This will fit right in with the UN Small Arms Trade Treaty that's coming up in March. Registration makes it much easier to confiscate, which is their ultimate goal.
You guys need to keep writing/calling/emailing your government reps. Don't become complacent.
I think Mojoe's timing is a bit optimistic. Supply will take a long to catch up this time and the prices won't come down much in 2013. Ammo supply will probably be back in October, but at still elevated prices - unless the Small Arms Trade Treaty happens and imports of ammo stop. If that happens ammo prices will skyrocket.