I'm cautiously optimistic about an Obama re-election. I think the Democrats will pull it out for the Presidency, but I have a nagging feeling the GOP is going to take Congress. Unfortunately. Because the average base Republican is either a nutjob, an idiot, or both.
I take solace in the fact that A) Democrats don't produce near as many horrific gaffes as Republicans ('legitimate rape' being the most recent blunder of epic proportions), B) the Obama campaign is one of the most ruthless and effective campaigns in history, and C) minorities simply do not vote Republican and they are increasingly becoming a majority in the U.S.
This is truly a battle of pragmatism vs. ideology.