Now that conservative candidates have mopped the floor with Democrats as expected, the Republican Party needs to have a serious "come to Jesus" meeting -- and quick. The party will either return to the tried-and-true principles of unsullied Reagan conservatism, or the new Republican revolution will fizzle faster than you can say "Obama is a socialist."

Ronald Reagan often spoke of a "three-legged stool" that undergirds true conservatism. The legs are represented by a strong defense, strong free-market economic policies, and strong social values. For the stool to remain upright, it must be supported by all three legs. If you snap off even one leg, the stool collapses under its own weight.

A Republican, for instance, who is conservative on social and national defense issues but liberal on fiscal issues is not a Reagan conservative. He is a quasi-conservative socialist...