Charles Krauthammer reacted moments ago to the Republican Party winning control of the Senate, arguing that the effect of President Obama has now completely worn off. 

He pointed out that many of the Democrats who lost tonight were swept into office on Obama's coattails, which he said have now become "toxic."

Krauthammer said the favorable demographics - among young people for instance - are now shrinking for Democrats and the playing field between the parties will be leveled for the next few years and into 2016.

He argued that tonight's results refute the assumption that the demographics of the country were trending toward Democrats being the "party of the future."

"In all of these, the effect of the charismatic leader - and that began slipping away from the beginning - it's now completely gone. ... I think this is the end of an era for Democrats," said Krauthammer.

Watch his full reaction above, plus see more reaction from tonight's election coverage on Fox News from Mitt Romney, Laura Ingraham, Paul Ryan and Rand Paul.