As I was watching the results of the 2012 Presidential Election yesterday, I was discussing with my roommate about ways in which the Republican Party needed to reinvent itself if it wanted to stay relevant going forward. Granted, I'm a liberal, so take this braindump with a grain of salt, but I think the major problem with Republicans nowadays is that their core demographic historically is aging, and because of this, they lack the progressively-minded individuals that they would need to compete effectively in elections.
The baby boomer generation is growing old, and people of my generation are increasingly concerned about human rights (on a global scale, not just a national one), and the equality of rights. Social issues are trumping economic ones (whether this is prudent or not is another matter) when it comes to voting, and missteps like those by Richard "Rape is God's Gift" Mourdock burn themselves into voter's minds. My generation, especially, seems to be more forward-looking and sees the world as increasingly a singular, global society, rather than a world made up of individual countries.
With that, the voting bloc keeps shifting downwards towards the younger crowd, a crowd that seems to be increasingly more independent and looking for a candidate that can, first and foremost, prioritize the important issues effectively. For example, I don't understand why the older nation seems to care so much about fighting against abortion. My own views aside, one can't really argue that women having this right detrimentally affects the immediate direction of our nation (e.g. economically, militarily), so why do candidates spend so much time stamping their foot down against it? This, combined with the fact that Democrats have generally moved right (towards moderate politics) and the Republicans moving towards the extremely conservative side, has whittle the Republican core down to what seemingly can now only be described as white xenophobic males, as media stations are jumping to point out.
So then, the big question is, where do they go from here? Where do we, as a country, go (politically) from here? I personally would like to see a bigger Independent role and the downfall of the strict two-party system, but I'm not sure if I'll see it in my lifetime.