For dems to stay relevant, do they need a third way?

Two years after landslide victories for Barack Obama, Democrats were soundly defeated in many races across the country last night. Will today begin a process of soul searching for the Democrats so they’re not defeated again in 2012? Jim Kessler, vice president of policy and co-founder of Third Way, a moderate-progressive think tank, and former legislative and policy director for Senator Chuck Schumer, says Democrats need to move from the party of fiscal security to the party of fiscal growth.