The democrats will retain the Senate, and will likely add a few more seats. There's even some wind at the democrats' back for regaining the house of representatives, which would be nice, but realistically, I doubt it will happen.
All in all, this election is the beginning of the end of the republican party as it exists today: many, of the not most, of the "tea party" faction will be handed their heads on a platter, as their agenda does not synch with most Americans' vision.
