Soul-searching for the GOP: "We got to do better," says Gov. Bob McDonnell

Republicans not only lost the White House, but also lost three senate seats on Election night. Senator John Cornyn (R-TX), chair of the group responsible for getting Republicans elected to the Senate admitted early this morning, his party needs to reassess.

"While some will want to blame one wing of the party over the other, the reality is candidates from all corners of our GOP lost tonight," said Cornyn. "Clearly we have work to do in the weeks and months ahead."

How does the Republican party regain its footing?

OutFront tonight: Virginia Gov. Bob McDonnell, chairman of the Republican Governors Association.

A day after loss, conservatives point fingers

Following Mitt Romney's loss to President Barack Obama, conservative leaders wasted no time Wednesday offering pointed criticism of the Republican Party and its pick for president.

A coalition of social conservatives and tea party activists gathered in Washington to decry what they described as Romney's failure to represent conservatives on a national level.

"We wanted someone who would fight for us," Jenny Beth Martin, co-founder of Tea Party Patriots, said in a press conference at the National Press Club in Washington. "What we got was a weak, moderate candidate, hand-picked by the Beltway elites and country club establishment wing of the Republican Party."

"The presidential loss is unequivocally on them," she added.

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