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Originally Posted by August
It's not as red and blue as people would have you believe. Third party candidates have had a significant effect on 4 Presidential elections in my life time alone.
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Only during the election though, which only affects how the campaigns are run and influences who wins the race. Once the election is over so is the 3rd party influence. Best case scenario you get both parties controlling different levels of government where they have to work together to get a consensus. Worst case scenario you get what we see in the US now where one party controls all 3 levels of government (congress, the senate, and the executive branch) and the 49% of the electorate represented by the losing side are completely disenfranchised.