This would be awesome if it were true. Unfortunately, it isn't. While the Tea Party broadly believes in lowering taxes and not giving government money to bail out corporations (although the latter belief doesn't hold up to well in practice), that is the extent of their libertarian bona fides. They are (in general) pro-military expenditures, socially-conservative, very religious, support the American surveillance state, and so on and so forth. Also, the fact that Tea Party-endorsed candidates are pretty much invariably less popular and electable than generic Republicans would be (even though several of them will still win in a year where it's very easy to knock off Democrats) means that it is highly unlikely for the GOP to willingly follow their electoral lead.
Also, Obama's in the dumps because the economy is. Just like Reagan was in 1982; and just like Reagan, his communication skills don't find any purchase because Americans without jobs don't want to hear it. And also just like Reagan, if the economy's perked up in two years he'll coast to reelection (but if it doesn't, and a divisive extremist like Palin is the Republican nominee, things might get interesting). Much as some people would like to think Obama's strategy is at fault, and much as some want to think his "liberal" agenda is at fault, and much as I'd like to believe it's because he's a lying authoritarian murderous shitbag, the real truth is that Americans by and large don't care about any of that. The unemployment rate is what's sinking his party, and everything else is a sideshow.
Also, Obama's in the dumps because the economy is. Just like Reagan was in 1982; and just like Reagan, his communication skills don't find any purchase because Americans without jobs don't want to hear it. And also just like Reagan, if the economy's perked up in two years he'll coast to reelection (but if it doesn't, and a divisive extremist like Palin is the Republican nominee, things might get interesting). Much as some people would like to think Obama's strategy is at fault, and much as some want to think his "liberal" agenda is at fault, and much as I'd like to believe it's because he's a lying authoritarian murderous shitbag, the real truth is that Americans by and large don't care about any of that. The unemployment rate is what's sinking his party, and everything else is a sideshow.