This ought to really help Democrats' chances of re-election.
Yep. I think Obama is hoping to kill two birds with one stone - enact and entrench as much Big Government socialist legislation as he can in his first term, which in turn will sour much of the electorate on Democrats and lead to them losing the House in November.
This sets up a Clinton scenario (1994-1996) which can lead to his winning second term, as economy improves a little due to natural business cycle and market's enthusiastic "surge," and because of repeal or modifications alleviating some of Obama's "crown achievements".
Just like Clinton in 1996, in 2012 he could take credit for all the "good" and blame all the "bad" on Republicans in Congress and what he "inherited from previous administration". If House remains Democratic, he is looking at Carter scenario (1980) and one term presidency, with most of his agenda overturned after 2012 elections, and with it, Democratic dreams of enacting them again in the near future (generational memory).
Democrats in the House and Senate already understand that they are being fed to the wolves or led to slaughter and some don't want to play the sheep, but the ones in the House will be goners, and Dems only hope to hold enough for the working majority in the Senate, which will also help their "blame game" in 2012.