Speaking of Stephen Colbert or Arnold Schwarzenegger, there ought to be a third party. A partisan blue is supposed to be socially progressive and secular but fiscally lavish; a red socially conservative and pious but financially prudent. Yet I'm sure many of us are morally liberal and freethinking but at the same time monetarily sound

Join me in my quest to establish a Party Purple

This idea reminds me of an old pen-and-paper RPG from the 90's that never caught on called "Underground." Set in an alternate dystopian future, the only two political parties were the "Republicrats" and the "Plutocrats." Republicrats were the liberal party made of the remnants of both the Republican and Democratic parties who had any scruples. The Plutocrats were the rich, ruling class party who had abandoned all pretenses of caring about anything other than financial gain and power(comically founded by Ross Perot.) In general, it was understood that the Republicrats were a party of token opposition and the Plutocrats won every election.

In any case, if you're asking for an historical word, I'm afraid the closest I can come to someone who is socially progressive and believes in minimizing government expenses is libertarian, although it goes without saying that this is debatable.

However, the opposite, that is a staunch conservative who is politically populist, would be known in a certain time and place as a Dixiecrat.

How about passive-aggressive personality disorder? Wait that's not a political party. It is a political tactic though. How about a Logophiliac party? Party in my etymological dictionary in ten minutes. Woohoo!

I'll bring the chicken fricative and the consonant clusters!

Remopublidecratican

Rin, yes perhaps debatable as the Opinion Editor of our local Fourth Estate calls himself a Libertarian, but he leans to the right in most all respects, including social issues

Yeah, it doesn't really work. Like I said, I was straining and that was the best I could come up with based on libertarians I've known.

However, I'd offer that Republican and Democrat shouldn't have the right/left connotations that they currently have, but rather that we've made these associations based on the fact that most Republicans are right-wing and most Democrats are left-wing. The words would have more precision if history offered us more variety (like it recently has .)

Rin, well put