Doubtful, but if if it did happen, Dems would win in massive landslides every time. Libertarianism is a fringe ideology that doesn't appeal to anyone beyond the very rich and clueless teenagers.
They've been winning in landslides recently and after the GOP has suffered many losses I assume that in the 2020s a new party will rise.
They might suffer nationally in 2016, but they've assumed almost unprecedented control on the state and local level during the Obama administration. Our two party system is resilient, and it will take much more than one election to bring it down. Besides, I think it's more likely that the party will work to bridge the divergent interests of its business wing and working class base before splitting apart entirely. In a way, this election might be an important wake-up call for a party that's ignored the economic anxieties of its foot soldiers for too long.
