No, we don't.
It's a classic fallacy of false dillema, and a textbook propaganda ploy.
There are other choices. Those choices are going to have consequences and there is room to discuss and debate what those consequences will be, but it's an insult to the intelligence of everyone here to tell them that they only have two choices.
Of course, there are a million plus choices, but in 2012 there are only two that will count.
There is a need to face reality. The next President will either be a Democrat or a Republican unless the world collapses before then.
You can certainly chose to not vote, but then you are not participating in making the decision. Voting for minor candidates may determine whether the Republican or Democrat wins.