A GOP bloodbath looks suddenly more likely:

"If you turn the clock back two or two and half weeks, you could make a plausible argument that if a couple of things go our way we will lose three to four Senate races," said one Republican strategist. "Now we will lose six to eight." Polling in most Senate races over the past 14 days has shown a five-point decline for the Republican candidate, the strategist said.
The picture in the House is similar.

The generic ballot test -- a traditional measure of broad voter attitudes -- has also moved decisively in Democrats' direction in recent days. The latest NBC-Wall Street Journal and Associated Press polls showed voters favoring a generic Democratic candidate for Congress over a generic Republican by 13 points, while a recent Time magazine poll gave Democrats a 46 percent to 36 percent edge.

GOP operatives said the party's declining fortunes are rooted in a series of events over the past two weeks, including McCain's decision to suspend his campaign in order to help broker a deal on the rescue plan and Republican opposition that doomed the bill in a House vote on Monday. Those incidents helped reinforce voter impressions that Washington is broken and that Republicans bear the brunt of the blame, the party insiders said.

In the most recent Washington Post-ABC News national poll, more than half of all voters said they were "very concerned" that the failure of the first bailout vote would cause a "severe economic decline." By a ratio of 2 to 1, they blamed the legislations' defeat on Republicans.

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