Not exactly the Reagan Revolution, but given the circumstances, very similar to when Bush was doing well.
Long story short: The democrats are unpopular right now but things still can get better but also much worse.
Come on, with another Republican government shutdown in January and February, which still seems highly likely, GOP will be doomed as a brand for the rest of 2014, and the effects might be even more sinister for them than the short-term yet grave effects during the month of October. Let's see what polls are showing during March and April before we conclude that Christie will certainly beat Hillary in 2016. 
At least according to the first 72 polls of 2013 and late 2012, Hillary is still ahead of Christie nationally with an average margin of somewhere between 7% and 8%, which is almost identical to where she is in Christie's own home state, which could prove to be a crucial battleground in 2016 in the end (just like Arkansas possibly might be another one).
Except now a shutdown based on the premise of repealing Obamacare may actually hold water with the voters. And really, after the last shutdown, I get the impression that the public doesn't think they're that big of a deal. I mean, shutdowns aren't great... no one likes them... but the political context has changed a bit.
