Probably yes. Reagan gave a hopeful positive message in 1980. The republicans in congress didn't help and allow Carter to postpone all the pain of his failed foreign and economic policies until after the election.
In 2010 the landslide for the republicans was due to the one party excesses of the democrats and the people still hadn't felt the pain of the cap and trade, Obamacare, and the closure of the coal fired power plants and oil refineries.
Let the chips fall. It won't be us unworthy rich that will feel the pain first.