Third party out of the blue Presidential bids don't work, and yes, we should clean up the GOP. But, I see nothing wrong with a third party judiciously cropping up and gaining steam at the local and state levels. They could caucus with the GOP when possible, or grow on their own, as issues dictate without giving away a Presidential election.
If the Tea Party were to form the GOP would be the third party!
Actually, we are getting our “third party” wish. The tea party contingent within the Republican party is in the process of taking over the party. All we need to do is add to their numbers and imo, elect Palin president in ‘12. By doing that we will have effectively turned the GOP into the third party we are seeking to build. Simple, huh? :-)