Obama could win but I can’t see them winning back the House and it will be damn hard for them to keep the Senate. It would be more a repeat of 1996.
I think that Republicans learned from their political mistakes from the 1990s that helped Clinton win. They will spend the next two years making a case against Obama instead of losing costly battles, but I could be wrong. We will know by summer how things will play out just as we did in 2009 as Obama-care started sinking.