Senator Bill Bradley sent political shockwaves through Washington today with the announcement that he won't seek a fourth term. "This puts the Republicans within striking range of a filibuster-proof 60 Senators," says TIME's Karen Tumulty. Senate Republicans currently number 54 and "the five retiring southern Democratic seats could easily be filled by Republicans," Tumulty says. At a press conference, Bradley said he was quitting because "politics is broken" and both parties are mired in dogmatism. "The Republicans are infatuated with the magic of the private sector and reflexively criticize government as the enemy of freedom, and Democrats distrust the market [and] preach government as the answer to our problems." Tumulty notes Bradley was facing a tough reelection fight and "may just not have the stomach for it."