According to Nancy Pelosi, yes.

The 2010 congressional elections will be the “toughest midterm elections Democrats have ever faced,” Speaker Nancy Pelosi (D-Calif.) acknowledged today.

Pelosi made the statement in a fundraising pitch for the Democratic Congressional Campaign Committee, urging supporters to help Democrats beat back Republican attacks.

“The Republican defenders of the status quo are shouting because they understand that this is the toughest Midterm Election that Democrats have ever faced,” Pelosi wrote, hinting at Rep. Joe Wilson’s (R-S.C.) outburst.

“They also understand that this is a critical month for health insurance reform and they are trying to deal a serious blow to President Obama’s agenda for moving America forward.”

Pelosi’s comments acknowledge a stark reality for Democrats. The president’s party almost always loses seats in a midterm election, especially in a president’s first term. But Democrats’ ambitious agenda–healthcare reform, climate legislation, etc.–combined with a still-lackluster economy makes Pelosi’s party particularly vulnerable in 2010.

Many analysts have drawn parallels to 1994, when Democrats’ suffered heavy losses in the midterms after an ambitious attempt to overhaul healthcare.

Pelosi implored supporters to help Democrats maintain their majority this time around.

“It is urgent that we stand together as Democrats,” Pelosi wrote in the email to supporters. “With all eyes on the coming Midterm Elections, let us use this critical September deadline to show the world just how prepared we are to maintain a strong Democratic Majority for President Obama so he can keep America moving in a New Direction.”

It’s interesting that Pelosi is urging Democrats to stand together. She knows that support for Obama is crumbling across party lines, Obama’s government run health care can’t even get unanimous Democratic support, and that Americans are furious at the amount of government expansion that’s been taking place since Obama, Pelosi, and Reid took over. They pushed too hard, too fast, and they’ve got Americans scared now. It has nothing to do with “shouting” coming from Republicans, like Nancy Pelosi says. It has everything to do with the liberals themselves. They elected Obama as a moderate Democrat and promised an end to partisan politics and corruption. Yet since Obama’s been elected, Democrats have been unable to restrain themselves at all, and showed everyone right away that they were nothing more than the same old extremist liberals, more corrupt than ever, shutting Republicans out of negotiations, and bringing Chicago-style politics to Washington. Americans don’t like what they see. They don’t like the big government expansion, they don’t like moving towards socialism, they don’t like Obama ruining the progress we’ve made in the War on Terror.

So yes, Nancy Pelosi should be afraid. If Democrats keep things up the way they are, they’ll see losses so extreme in 2010 it will make it look like 1994 was a victory for Democrats.