@wandeljw,
No doubt about it, Horowitz is right here. Our right wingnuts do the cause of a resurgence of MACean values no favors whatsoever when they invoke Godwin's law or condemn President Obama (or any other Demorats or liberals for that matter) in the snippy, schoolyard insulting manner utilized by the left wingnuts when they refer to President Bush, Republicans, or conservatives in general.
What I've found interesting here is the unwillingness of some on the left or right to consider what we mean by Modern American Conservatism (i.e. classical liberalism) but assume it is a new invention or just another version of neo-conservatism or the old hardline European style conservatism.
Newt Gingrich probably brings too much old baggage to be a viable standard bearer, but he has recently been reported to suggest that there indeed may be a viable third party formed before the next election. The reason? To provide an alternative to the Democrats who are the left wing of big government and the GOP who have become the right wing of big government. It is Modern American Conservatism that we have been describing that he says that we have lost and he thinks that kind of platform would be appealing to conservative Republicans, Demorats, and independents alike.