First thought on Tuesday's elections: There's a lot of firing going on in America, and now that includes politicians. Seems only fair and will likely continue. I don't think voters in New Jersey and Virginia were saying, "Oh the Democrats are awful, and we hate them," nor were they saying, "Republicans are wonderful, and we love them." The voters were being practical, and thinking policy: "Will he raise my taxes?" In Jersey, they fired the incumbent governor because they couldn't imagine the state getting off its current trajectory (high unemployment, high taxes, high spending) with him there. And they're certain they have to get off their current trajectory or they're sunk.
Both states hired new governors. The good news for the GOP is that they hired Republicans. The bad news is that if the Republicans don't make progress, they'll fire them too.
Second, it's too simple to say this was a vote against Obama. Yes, he went to Jersey three times and draped himself like a shawl around the Democratic incumbent. But the crowds showed and nobody booed and everyone had a good time. What happened actually is more interesting. They just didn't listen to him. Mr. Obama told Jersey to vote for Jon Corzine, and they didn't. They don't hate him, they're just not hearing him. That's new. They're warning him: Hey you with the health-care obsession, shape up or you'll get shipped out!