Good or bad time to buy stock for 20-30 year horizon?

Oh great and mighty poombahs of the Money Boad, Spidey and I throw ourselves upon your infinite mercy and wisdom to resolve a dispute that we begun in the treacherous land of Poli Talk.

If you voted for Obama, then put your money in the market based on how much confidence you have in him.
If you think Obama, Pelosi, Harry Reid, Barney Frank, and Chris Dodd, will develop gov't policies that will be good for the economy and business, then go "all-in". IF you think their policies will be harmful to the economy, then wait until they are booted out of office before investing in the market.

1) The $787B stimulus will not help the economy, and will hurt GDP in the long run.
2) The Cap and tax policy will cause electricity rates to increase up to 40%. That will destroy many businesses, and cause people to spend less because now they will be trying to pay their mortgage and electric bill.
3)Preventing people making over $250k per year from deducting interest on their mortgage will hurt housing and real estate valuse more than it's already been hurt.
4) Preventing the "rich" from deducting their charitable contributions will reduce income chrities recieve which will cause charities to spend less money which will reduce stimulation in the economy.

Who knows what's coming next, and that's why the market keeps going down. There's no reason to own stocks in this environment with these type of policies coming out of the White House and Congress. I could be wrong.
If you think I'm wrong, then by all means invest in the market.
At this point if you're not in the market, then you may want to wait, but if you're in the market you might not want to get out. My portfolio is 80% cash. It's been like that since October 2007, and I have not bought one stock since then. There has not been a good time to get back in. Things could go up in the short-term, but I haven't seen any reason for that. If things go up I expect things to go back down once these taxes are implemented. Tax increases always slow down the economy. Minimum wage increases often cause a recession too. In 2007 and 2008 the minimum wage increased. In 2009 we're gonna have a major tax increase.

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Good or bad time to buy stock for 20-30 year horizon?

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Better than it was last year is about all I can say. Whether it'll be a smooth ride or not, who knows?