It's all about cycles...
The rise of the Republican party is due to a strange marriage of business interests, moral traditionalists, and libertarians. President Bush certainly has pandered to business interests while paying lip-service to the Christian Right and virtually ignoring any calls for smaller government. The Christian Right is learning a hard lesson that even though they were largely responsible for electing the current President, they're not receiving what they feel to be an adequate return.
While the party is using the Christian Right, the Christian right is using the party even more. They have adopted the strategy of politicizing everything in society they do not agree with. They have persuaded their followers that the Republicans are their vehicle of change even as the party passes legislation against their livelihood in favor of business interests.
The American Daily has a great article further highlighting the factions within the Republican party and the growing discontent brewing within.
Alternet has an article titled How to Turn Your Red State Blue which is a great read. The writer explores the Republican's "missionary" work to gather support and calls out for Democrats to follow their style and build a "debt" coalition. Many Republicans and Democrats suffer under the strain of high debt and Christopher Hayes believes that this point could be used as a way to extinguish the current conservative cycle we're in.