A more serious question is why, over the intervening 18 years since Reagan left office, hasn't conservatism produced one viable candidate for national office? Conservatism doesn't win on ideology alone, but must have a leader whom most Americans are willing to follow (sorry, Duncan Hunter doesn't impress me as that kind of leader -- maybe he'll eventually convince me), and yet the lack of such represents a kind of leadership bankruptcy within conservatism.
I think it's partly because the lamestream media has become RABIDLY anti-conservative and will never allow another great conservative like Reagan to achieve national prominence.
You know, if you don't have your principles intact anymore & it's just "win at any cost" - then you still lose at the end of the day. Some of us aren't willing to go down so quietly.