What Does Obama Win Mean for Republicans?

The GOP is trying to figure out what went wrong in the presidential and Senate races.
3:00 | 11/08/12

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Transcript for What Does Obama Win Mean for Republicans?
We turn to the fallout from president obama's sweeping victory on tuesday. As he returns to the white house, the republican party's trying to figure out what went wrong and what changes they need to make. Jonathan karl is here. And the soul-searching has just begun. Reporter: That's right, george. The republicans blew a historic opportunity to beat a president that was suffering low aval ratings and high unemployment. Instead, they suffered huge losses across the board and are struggling to find a way forward. In the wake of such a big victory for democrats, a humbled speaker of the house, john boehner, struck a conciliatory tone. After keeping control of the house, but losing seats. He signaled a possible willingness to compromise on taxes and extended an olive branch to the president. Mr. President, this is your moment. We're ready to be led. Not as democrats or republicans, but as americans. Let's rise above the dysfunction and do the right thing together for our country. Reporter: Rush limbaugh almost seemed at a loss of words when describing the republican defeat. I went to bed last night thinking, we're outnumbered. I went to bed last night thinking we lost the country. Reporter: As returns were still rolling in, sarah palin seemed stunned. Unfortunately, we know what we will get with four more years of obama. This really is a catastrophic setback to our economy. It's a perplexing time for many of us right now. Reporter: In high-profile races from the top on down, it was a night of republican concession speeches. I pray that the president will be successful in guiding our nation. Things don't always turn out the way you think they're going to. Reporter: Now, the question is, how to bring the party back from political exile. In five out of the last six presidential races, republicans lost the popular vote. The defeat was especially crushing among the largest voting group, women. As well as the fastest-growing voting group, hispanics. I think republicans have done a pathetic job of reaching out to people of color. Reporter: What could be the opening salvo of the 2016 republican primary. Some in the party are lashing out at new jersey governor chris christie, for giving the president a boost for his handling of sandy. Christie insists that's nonsense. That he worked harder, with the possible exception of paul ryan,

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