Last night’s election results were a stinging blow to the Republican party. Undoubtedly Harry Reid, Nancy Pelosi, and Rahm Emmanuel are in very good moods today. This off-year election raises the question about a Democratic sweep in next year’s mid-term elections.

While the GOP is attacking oil companies and perhaps reneging on tax-cut extenders, without offering any strong budget-cutting plan, the Dems are thinking about putting together their own Contract with America. While Democrats still have to craft a coherent message, and while their glee may yet be premature, the 2005 election message is clear: It’s time to get serious. This is a Republican problem. GOP pundits who try to downplay these election results are just plain wrong.

In terms of winners and losers, I’ve already mentioned congressional Democrats. Other Dem winners are outgoing Virginia Gov. Mark Warner and, of course, Hillary Clinton. The Democratic swing in Virginia could jeopardize George Allen’s presidential bid (but maybe not). On the GOP side, Rudy Giuliani is a big winner because of his support for Mayor Mike Bloomberg. While the latter is barely a Republican, he nonetheless crushed the Democratic machine in New York City. On the other hand, Giuliani’s embrace of Doug Forrester in New Jersey simply didn’t work out. So perhaps Rudy’s coattails are not as long as once believed.

But it’s hard to find any other Republican winners from yesterday’s results.