I know tonight's going to be bad, but I did a lot of hand-wringing after the ‘94 mid-terms, then again in ’95 when the pundit class told me Clinton was toast, then in ’98when the pundit class wanted Clinton impeached before Dems won seats, then in 2000, then in 2002 when it looked like The War On Terror had Changed Everything, and I doubly wrang my hands again in 2004 when the pundit class told me it was all about the Values Voters. In 2006 the pundit class and my own pessimism had me convinced there was no way the Dems could win Congress again. Then in 2008 I couldn’t believe Americans would elect a black dude with the middle name of Hussein and the last name of Obama.
I wouldn’t worry much about the long-term impact of tonight’s results. It’s a mid-term (see 1982 1994), the economy is really bad (see 1982). If it stays bad, we might have more to worry about.