Everyone here who's saying "it couldn't happen, isn't going to happen" are thinking short term. Very short term.
Who is in power right now? That is, which generation of people is it that has elected the politicians into power, and of which generation are those politicians? As near as I can tell, it is primarily the 30-50 age bracket, because prior to this election, the number of young people who vote have been minimal.
That's changing, though, and has been changing for the last 2 years, as near as I can tell (starting with the 2006 election). A lot of previously politically inactive 20-somethings, as well as a number of people who became eligible for the vote in the last 3-4 years actually are voting, and apparently, something like 80% of them vote Democrat.
Chalk that up to simply their age if you want, but I find it hard to believe that, over the course of the next (say) 10-15 years that 30% o fthe populace will drastically change their world outlook. No, once people pass their formative years, their world outlook is mostly the same throughout their life, with minimal modification. Yes, changes can be made - and will be made - due to things like military service (for the few who go that route) and parenthood (which will likely come in about 10 years, if at all). But those changes will be minimal: first beliefs, as formed during their infancy in public schools, will remain the metric of assessment for their decisions.
It won't just boil down to who's in charge of the Presidency. It'll be: who's on the city council; who's running state government; who's running federal agencies? The people who make up the largest component of the so-called Republican party today are older. They're in their 40s, 50s, 60s, or older and, unfortunately, do not appear to have passed on their values to the Gen-Xers and younger. After the cultural divide of the 1980s, it seems as if the Conservative elements of our society decided to stop institutionalized generational indoctrination, or at least handed over the reigns of the culture to the hippy/socialist element. As a result, each subsequent year that goes by results in fewer and fewer children who adhere to traditional values, because parents aren't raising their children anymore - the state is, in public schools.