1) The extremist Tea Party agenda won a clear victory. No matter who the Republicans nominate, we’ll be running against someone who has embraced that agenda in order to win — vowing to let Wall Street write its own rules, end Medicare as we know it, roll back gay rights, leave the troops in Iraq indefinitely, restrict a woman’s right to choose, and gut Social Security to pay for more tax cuts for millionaires and corporations.

2) We’ll be facing an onslaught of unprecedented spending from outside groups funded by corporations and anonymous donors. In Iowa alone, so-called “super PACs” spent $12.9 million on almost exclusively negative ads. These groups will turn their fire even more directly on us in the weeks ahead to prove that their candidate is the most anti-Obama.