Glenn has a long compilation on his site regarding what the Democratic Party can do to become relevant once again, and posted an email from one of his readers:
A moderate centrist party that pulls in the majority of independents and also saps the harder edges of the spectrum simply would not be beat. What we need is a party that: avowedly embraces the many benefits of capitalism and industry while also protecting investors and labor; that understands how foreign policy depends on negotiating from a position of strength instead of a position of weakness; that personal libertarianism has to be balanced with the need for communities to be able to define their own laws and norms according to their social systems and beliefs, and most of all, that America is already a force for good in the world and not a font of evil.
Sounds like a party I’d support. After all, it proposes following the Constitution. States decide almost all issues, and the Federal Government would gets out of our lives in almost everything, just as Madison and others envisioned.