The specter of BO & Pals running the country another four years should have brought out every "real conservative" able to crawl to the poll. So one is forced to conclude that there are not enough conservatives to win an election by themselves.
As the GOP looks for new voters, assuming they do, where do they go? Who must give up the policy space it takes to recruit new voters?
Social conservatives seek to reduce personal freedom by legislating moral issues, whereas the fiscal conservatives seek to increase personal freedom by keeping the government from sacking the country. Which of those is probably less attractive to swing voters?
Libertarians already preach social liberalism and fiscal conservatism. Let's invite them into the tent.