If their wacko economic ideas had actually produced steady growth in the markets and started making real headway on unemployment, they'd actually be in reasonably good shape to hold on in both houses, with just the typical mid-term retrograde results.
However, unemployment seems to be stuck two full percentage points above their worst projections, and the markets are mired in a cycle of 5% advances and 3-5% declines, with a gradual snowball of disaster building since the acceleration that comes with sustained positive growth is necessary for the economic model followed by most businesses and individuals. Such stagnation pushes more and more debtors irretrievably over the edge, building a wave of disaster over the horizon that may well crash home if no solid upward trend emerges by mid-Autumn.