Is the Republican sky falling?

A lot of folks on the left are salivating as President Bush's approval rating seeks a new low. But does this president's failure mean the end of the conservative movement?

Jonah Goldberg thinks the center-right is doing fine:

Majority coalitions have big internal arguments for the same reason that pirates fight over buried treasure after they find it and not when they're still looking for it: They have something to fight over. They have to govern, which means pleasing some constituencies and infuriating others.

He also notes that just as Republican presidents had to appeal to liberals during the New Deal era (Eisenhower and Nixon), Democratic presidents have to appeal to conservatives now (Clinton). He has a point.