Give Mr. Hyperbole, Ed Schultz, his due here. First, he manages to stay within the bounds of reason in this clip, discussing the potential impact of a Scott Brown win over Martha Coakley in Massachusetts. He also argues, correctly, that moderate Democrats in states a lot less Democratic than the Bay State will have to rethink their position on the Obama agenda, even if Schultz laughably calls Joe Lieberman a “Blue Dog” Democrat. He only gets off base when he calls Obama’s response “angry,” when in fact “bewildered” looks more appropriate (via Mary Katharine Ham at the Weekly Standard):

The only way Schultz’ prediction fails is if the red-state Democrats like Ben Nelson, Blanche Lincoln, Evan Bayh, and others believe the spin that Coakley’s loss is entirely her fault and not a reaction to the Obama agenda.  Even lousy candidates get elected to statewide office in the Bay State as long as they have a D next to their name, however, so don’t expect them to ignore the obvious.  If the backlash to the Pelosi-Obama agenda can take out a safe Democratic Senate seat in Massachusetts — or even come close to losing it in one of the bluest of blue states — then moderates in red states like Nebraska, Indiana, Arkansas, and others don’t stand a chance.  They’ll start looking for reasons to reassert their independence, starting with ObamaCare and continuing with cap-and-trade.  Schultz is right — it will be the end of the Obama agenda as we know it.

But what does that mean for 2010 and Democratic leadership?  Nancy Pelosi is probably safe for now, but Harry Reid may no longer be necessary.  If the Senate can’t get a health-care bill passed with 60 Democrats, it won’t get one passed with 59, either.  The reasons Reid hasn’t yet admitted defeat for his seat in Nevada, where he polls below 40% now, are (1) he has millions in his campaign warchest, and (2) he can’t push through ObamaCare as a lame-duck Majority Leader.  The Massachusetts race shows fairly clearly that millions of dollars won’t rescue a Democrat from the outrage that the Obama agenda has provoked, and Reid’s continued presence has become an albatross around the neck of his son Rory, who wants to run for governor on the damaged brand of the Reid name.  If ObamaCare runs aground, there isn’t much reason to linger to November to take his well-deserved beating at the polls.