IN A WAY, IT DOESN’T MATTER HOW IT TURNS OUT: The message for the Republicans — and the Democrats — is that they need to do much better. The GOP, as I noted before, made a number of “unforced errors” that took them from a strong to a weak position — not because they spent political capital, but because they squandered it. They were too busy stuffing their pockets and taking their base for granted, and — whether or not they lose big or lose small — they could have done beter, without sacrificing any of their principles, if they’d had a bit more self-restraint.

Meanwhile, the Democrats, even if they take both houses, will have to actually discover some governing principles — and if they’d had those on display, they’d be running away with this election right now.

I’ve written before that technology, diminishing voter loyalty, and new media make a third party a lot more feasible than it used to be. The two big parties are depressingly inept, each arguing that the other is worse, and both make a strong case. . . .