With Democrat and Republican ads seemingly everywhere, it's good to remind ourselves that the distinctions and importance of the two major political parties are becoming less and less relevant.

Here is the original text from the April 12, 2012 Reason TV video:

"We had a non-Obama president recently, his name was George W. Bush, it wasn't all puppy dogs and rainbows," says Reason's Matt Welch. "Being Republican is not enough to counter Obama. Mitt Romney is not offering an alternative to Obama," adds Reason.tv's Nick Gillespie.

From Newt Gingrich's inexplicable campaign chatter about a taxpayer-subsidized colony on the moon to Mitt Romney's refusal to discuss any specific spending cuts he would implement as president, Republicans continue to offer no real substantive alternative to President Obama's spendthrift economic policies.

Welch and Gillespie, the co-authors of "The Declaration of Independents: How Libertarian Politics Can Fix What's Wrong with America," hosted the discussion "Why Democrat vs. Republican is the Wrong Way to Look at the 2012 Election" at Reason Weekend, the annual donor event held by Reason Foundation (the nonprofit that publishes this website).

Runs about 30.41 minutes.

Produced by Anthony L. Fisher, shot by Josh Swain and Fisher.