People did the same thing regarding Democrats following 2000. The Republican Party isn't dead. They are no where near Whig level. If the economy double dips, they will probably make gains in 2014.
I expect gains in 2014 anyway. The EC may say 332-206, but it was only about 160,000 out of the 110 million votes cast which which made the difference between 272-266 and what it ended up being. O can not walk away from this feeling overly loved. Not be a downer, but its true. This election is hardly a sign of Democrat's popularity. Though it is a sign of how bad the republicans are. Between now and 2014, there is going to be a wave of moderate Republicans emerging. I think unemployment gets better, along with Obama's approval ratings. But spending will still be too high. I think a wave of younger, more moderate Republicans will soon begin emmerging.
Brit Hume had the best take of the night. You look at Romney and what a weak candidate he is, and how close the race really was in the swing states. They all broke Obama's way, but Republicans have to look at FLA, OHIO, and Virginia, and think they were winnable, which in 2008 they really weren't. Hume just basically said, it is impossible to look at the map & look at the #s and think that a socially liberal, fiscally responsible, normal & personable candidate would not have beaten Obama. Exit polls all said they favor smaller government, they favor less spending, they dislike Obamacare, etc etc etc etc and yet he still won. This was more about Romney & espec. the modern Republican party platform being THAT incompetent than Obama being THAT impressive.
Too bad for the republicans; I doubt a presidential election is the winnable for them for at least the next 8 years.