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As predicted, Republicans emerged as the big winners in last night’s mid-term elections. The GOP now controls the House, holding at least 239 seats to the Democrats 184. All 435 House seats were on the ballot. As of this morning, the results for 12 races are still too close to call. Republicans also won at least 10 state Governorships. Democrats retained control of the Senate, but by a decreased majority. They have at least 51 seats to the Republicans’ 46. In Kentucky, Tea Party favorite Rand Paul declared an early victory, promising to “take back government.” Among the notable losses for Democrats is the Florida seat of freshman Representative Alan Grayson, who lost to Republican Daniel Webster, a longtime Florida State legislator. In Wisconsin, three-term Senator and financial reform leader Russ Feingold lost to Republican businessman and first-time politician Ron Johnson. Johnson had Tea Party support. However, a major win for Democrats came late last night for Senator Harry Reid of Nevada, closely beat tea-party favorite Sharron Angle. In Delaware the Tea Party’s Christine O’Donnell also lost to Democrat Chris Coons. And at least two races are too close to call. An Alaska Senate seat is a toss-up this morning between incumbent Republican turned-write-in candidate Lisa Murkowski against the Tea-Party backed Joe Miller. And in the Colorado Senate race a winner has not yet been declared between Democratic Senator Michael Benet and Republican Ken Buck. Republican House Minority leader John Boehner is poised to be the new Speaker of the House.

GUESTS: John Nichols, political writer for The Nation Magazine, contributing writer for The Progressive and In These Times and the associate editor of the Capital Times, the daily newspaper in Madison, Wisconsin. Jane Hamsher, founder of FireDogLake.com, a leading progressive blog. She writes regularly for The Huffington Post, and has published in AlterNet, The Nation and The American Prospect