Gallup reports that the Democratic party has seen better days:
In 2010, 31% of Americans identified as Democrats, down five percentage points from just two years ago and tied for the lowest annual average Gallup has measured in the last 22 years. While Democrats still outnumber Republicans by two points, the percentage identifying as independents increased to 38%, on the high end of what Gallup has measured in the last two decades.
That's a really big swing in just two years. In fact, gallup notes that such a large change makes this finding particularly notable. However, it's worth noting that the GOP only gained a single point in party ID, while the percentage of indpendents soared. It's a Tea Party world, and the GOP just lives in it.