More than anything, I think this shows that voters are simply giving up on Obama and his agenda. They don't think he has a clue about how to get the economy moving again and create some jobs. As Allah points out , they don't seem to like the GOP any better than the Democrats, but the toxicity of Obama is dragging the Democrats to utter destruction:
The most amazing thing about this? When Democrats tell people that voters hate the GOP as much as they hate them, they're not blowing smoke. That's basically true. In fact, in many polls, the Republican Party's favorables are still lower than the Democrats'. And even so: Biggest generic ballot lead ... in history. That's how popular Hopenchange is.
The flip side of that calculus, of course: Imagine what the lead would be like if people liked the GOP.
I agree with Allah. How about the GOP leadership coming up with a positive, innovative, comprehensive, optimistic plan to revitalize the economy? If they can convince people they're serious about the deficit and serious about getting the economy moving again, and not just sitting back and riding hate for the Democrats to victory, what could be a 40 seat swing might balloon into something much higher.
As it stands now, the Dems are burnt toast and falling. If you thought they were smearing the GOP before, get ready for some really dirty politics. It's all they have to stave off unmitigated disaster and they will play the race card, the gay card, the feminist card, the extremist card, and any other card in the deck against Republicans.
It will not be pretty.