Given all (the) holes in the Democratic front, losing Congress to them would be a repudiation of Republicanism far beyond what the raw numbers might suggest. The Dems will have won a huge victory with next to nothing in their playbook and set the stage for a truly re-aligning election in 2008.
Right. '08 is the big one. Whatever happens next month, we're gridlocked the next two years. This will do little to salve discontent setting the stage for someone to challenge the establishment. Would that Ross Perot hadn't been such a whack job.
Best thing for the Republicans is for the Dems to take the House and Senate. That delegitimizes the current regime and opens the door for a true outsider and reformer in 2008. McCain would flop back to being a maverick, but it's too late for him - he tied his wagon to Bush and lost his gunslinger status forever.
Any good outsider centrist (fiscally conservative, socially moderate) Republicans out there? Can we resurrect "McCain 2000" for the role? Bring back the Straight Talk Express?