The reason for the low turnout

I think the pundits might be wrong, and Grim has the real reason:

It wasn't because they were satisfied with their government. It was because they believed that Obama was evil, but the Republicans were corrupt, and the system was wholly rigged against them. They saw no benefit to voting or engaging in the political process at all.

They didn't believe things could be changed for the better, saw no one they identified with for whom they could vote, and generally have come to regard the government as a pack of thieves -- both parties.

So they have checked out of our political system