Latest Sabato analysis: GOP ‘outside shot’ at Senate takeover; House GOP pickups as many as 47

The summer has not been kind to Democrats, with high unemployment, sluggish income growth and public confidence "quite low." The mosque debate didn't help either.

Consequently, in his Labor Day analysis of the fall elections, Larry Sabato says Republicans "have a good chance to win the House by picking up as many as 47 seats, net."

"In the Senate, we now believe the GOP will do a bit better than our long-time prediction of +7 seats," Sabato says. "Republicans have an outside shot at winning full control (+10), but are more likely to end up with +8 (or maybe +9 ...)."

"The inescapable conclusion is that the Senate is on the bubble, with only a slight lean at Labor Day toward Democratic retention," Sabato says.

For Nevada, Sabata has the Reid-Angle race a tossup and the same for the Titus-Heck race.