Okay, in defense of Democrats, statistically and historically, Obama is the favorite to win the 2012 election. I don't know how you could disagree with that. Does that make him a lock? No. But, of all the possibilities, his re-election victory is the most likely.
How so? Last both the Democratic Party and Republican Party had back to back 8 year presidents the Democratic Party won the next election and got killed in the next election.
1961-1969(Democratic Party had the Oval Office), 1969-1977(Republicans had Oval office), 1977-1981(Carter held office) and the 1980 election Republicans won in landslide.
Kinda look like something?
1993-2001(Bill Clinton), 2001-2009(George Bush, Jr), 2009-2013(Obama), 2012 election landslide for Republicans.
It fits.