NRCC Chair Tom Cole tells House GOP members to panic.

After the loss in the Mississippi special election last night, NRCC chair Tom Cole issues a memo which can only be taken as a directive for his GOP charges to panic.

Explicitly, he's warning all the GOP House members that they had better watch their own situations, but it would also seem that he's telling them to hoard their cash, meaning less national money for the NRCC to spread around.

He's saying he expects the NRCC will be playing hard defense, not offense, in the Congressional races.

My guess would be that he's not long for that job.