Fred, I agree that the "Republicans will lose"; in the Congressional races they will at best take moderate losses. and they just may get totally hammered in November. Much of it will be their (our - I'm still registered as a Republican) own fault.
The Presidential race, however, is another matter. Uphill for McCain as Flakey says, but I still have my hopes. If a President Clinton with a strong Republican congress could get a few things done (welfare reform, some spending reductions, the Federal Defense of Marriage act) perhaps a President McCain and a Democratic congress might work out some compromise solutions as well.
I do find it interesting that some criticism of Obama is appearing on his left flank (!) The netroots are apparently starting to worry that Obama actually meant what he said (sometimes ;-) about working on a consensus, and seeking compromise solutions. They are becoming concerned that Obama just may turn out not be leftist, collectivist, or anti-war ENOUGH !
Irony, thy name is politics ;-)
MWL