Given the number of misleading and untrue statements that Mitt Romney made in the first debate, given the Republicans claim of voter fraud, denial of climate change, and mischaracterizations of free markets, maybe the best name for their party is the Republicons.
Given how often the Democrats give in to many of the Republican charges against them, like soft on communism, soft on crime, and soft on terrorism, maybe the best name for their party is the Fraidycrats.