What Digby said.
The failures of conservatism are manifest and huge. But beyond some vague idea that politics has been too partisan I don't believe people have heard a story that really explains it yet and until we see real progress manifested in real life by an Obama administration, I'm not sure that people have anything other than some vague hope that the other guys should be given a chance. It certainly doesn't mean that a new narrative of progress and competence won't naturally just emerge, but it's going to take time. And during that time, the right will be spinning their epic tale of Democratic irresponsibility, fecklessness and elitism, among other things, while Democrats refuse to publicly engage.
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